• Cryptocurrency investors have experienced a wild ride over the past week, but finally some good news as the market saw a reduction in volatility.
• KAVA and APT are two of the top coins leading the pack during this period of reduced volatility, largely due to their incentive programs and network activity.
• Other altcoins that have seen significant gains include EOS, TRX, XRP, BCH, BSV and LINK.
Crypto Market Rebound
The cryptocurrency market has bounced back and is up 6.4% in the last 24 hours, reaching a total market cap of $1.01 trillion. Cryptocurrency investors had been on a wild ride over the past week amid Silvergate’s liquidations and Silicon Valley Bank’s (SVB) collapse. But finally, some good news: over the weekend, the market saw a reduction in volatility and many of the top coins posted gains despite recent bearishness.
Kava (KAVA), the cross-chain decentralized finance (DeFi) lending platform has been making headlines with its remarkable surge in value over the past week – gaining 32.47%. The token is trading at $1.05 as of March 13th. This can be attributed to its recently launched innovative incentive program Kava Rise; which distributes 62.5% of all block rewards to developers building on Kava’s Ethereum (ETH) & Cosmos chains as well as incentivizing validators to migrate their cloud infrastructures to Akash Network with an offer of $1 million in AKT tokens from Akash Network itself.
Aptos (APT) has emerged as another big gainer over the last week with an impressive 70% increase in value – currently trading at $0 .863 per token according to CoinMarketCap data for March 13th . The reason behind this surge can be traced back to Aptos’s participation in Eth 2 staking; where it provides users with up to 12 % annual returns on ETH staked through their platform along with other benefits such as free transactions & zero fees for ETH transfers within Aptos’s ecosystem .
Other altcoins that have seen significant gains include EOS (+37%), TRX (+30%), XRP (+15%), BCH (+14%), BSV (+11%) and LINK (+10%). These tokens have increased significantly due to various factors including new partnerships & integrations , progress towards DeFi adoption , increasing demand for privacy coins & security tokens , etc .
The crypto market appears to be recovering from recent turbulence; with Kava & Aptos leading among other altcoins such as EOS , TRX , XRP , BCH , BSV & LINK . It remains unclear exactly how long these increases will persist or if they will continue into next week; but it appears that cryptocurrency investors now have something positive to look forward too .