Data shared today by expert analyst Phoenix Group revealed that the cryptocurrency landscape witnessed an exciting past week as multiple assets recorded remarkable surges and outperformed the rest of the market. The performance shows slight rebounds in the wider crypto market, an event that coincides with potential agreement between Iran and the US on reopening the Strait of Hormuz to help ease pressure on global oil supplies, stabilize fuel costs, enable the flow of global goods moving, and decrease the risk of increased inflation. The rise in the prices of many digital assets attracted the attention of the analyst, an important examination aiming to understand the forces behind such moves.
Major Crypto Market Movers This Week
USD.AI (CHIP)
As per the analyst’s data, USD.AI (CHIP) has been the best-performing cryptocurrency in the last week, rallying 132.5% over the period. The main catalyst behind this uptrend is the recent rollout of the CHIPUSDT trading pair on several crypto products on the Binance exchange, including spot and derivatives, supported by surging trading volumes that attracted increased traders’ participation.
OKZOO (AIOT)
The data further identified AIOT as the second-best performer, pumping 106.7% during the week. OKZOO (AIOT) is a decentralized AIoT network that rewards users for contributing real-world environmental and health data through portable devices. Besides its impressive weekly performance, the crypto asset pumped a massive 547.1% over the month, an indicator of continuing strong investor accumulation and user enthusiasm.
Perle (PRL)
Moving down, Perle (PRL) surged as the third-best performer, garnering 69.3% over the week, currently making its price to currently trade at $0.2443. Pearl is an AI trading data infrastructure network that utilizes blockchain and on-chain records to ensure auditability and transparency. Its price has also been up 54.4% over the month, bolstered by the asset’s recent listing on South Korean exchanges. On Friday, Upbit exchange announced that it will start supporting PRL trading in USDT, BTC, and KRW markets today at 5:30 pm in their local time zone.
TAC Protocol (TAC)
As identified in the data, TAC posted significant recovery over the past week, rising by 63.8%, making it the fourth-best performing cryptocurrency during the week. Besides that, the asset surged 136.7% over the month, rising from a low of $0.003947 noticed March 27 to a high of $0.008598 seen today, April 27, indicating consistent capital inflows as buyers show strong conviction in the crypto’s capability.
Onyxcoin (XCN)
Next, data pointed out Onyxcoin (XCN) as the fifth best-performing asset over the week, with an increase of 61.7% seen during the period. XCN, which currently trades at $0.006911, has also been up 49.0% and 34.7% over the past two weeks and month, respectively, contributed by heightened user confidence in the asset and Upbit’s move to list the asset on its South Korean-based exchange.
Other Top Market Performers
The data also listed other crypto top gainers over the week, including VELVET, ZBT, TRIA, APE, LUMIA, STABLE, H, PENGU, CETUS, and ORCA, which currently experience robust upward momentum, driven by strong enthusiastic sentiment in the respective markets.