{"id":3756,"date":"2021-05-25T01:22:25","date_gmt":"2021-05-25T00:22:25","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=3756"},"modified":"2021-05-25T01:22:30","modified_gmt":"2021-05-25T00:22:30","slug":"altcoins-4-unfamiliar-cryptocurrencies-that-beat-bitcoin-during-the-crash","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/altcoins-4-unfamiliar-cryptocurrencies-that-beat-bitcoin-during-the-crash\/","title":{"rendered":"Altcoins: 4 unfamiliar Cryptocurrencies That Beat Bitcoin During the Crash"},"content":{"rendered":"\n
Last week, almost all the entire cryptocurrencies<\/a> crashed as news of government crackdowns and other negative headlines have dominated the discussion.<\/h5>\n\n\n\n
\"Altcoins:<\/figure>\n\n\n\n

Surprisingly, not every coin has been plunging, however. One of the generally positive things about the decline in cryptocurrency values is that different assets are reacting in different ways to the selloff.<\/p>\n\n\n\n

To be sure, the damage is widespread. Bitcoin has fallen 12% in the past week and Ethereum\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the second most valuable cryptocurrency is down 21%. Excluding stablecoins, whose values hover around $1 because they are pegged to the dollar, the top 12 coins have all fallen. But others have risen over that period.<\/p>\n\n\n\n

Barron\u2019s<\/em>\u00a0screened for coins within the top 100 cryptos by market cap that has outperformed over the past week and found several that have held up.<\/p>\n\n\n\n

Crypto Survivors<\/h2>\n\n\n\n

Four digital assets have outperformed as the industry crashes<\/h3>\n\n\n\n
Crypto<\/th>Price<\/th>Market cap (B)<\/th>One week % change<\/th><\/tr><\/thead>
Polygon<\/td>$1.84<\/td>11.1<\/td>11.2%<\/td><\/tr>
Celsius<\/td>$6.70<\/td>1.6<\/td>2.5%<\/td><\/tr>
Helium<\/td>$14.19<\/td>1.2<\/td>-1.0%<\/td><\/tr>
Maker<\/td>$4,116.59<\/td>4<\/td>-2.1%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

They include coins that aren\u2019t exactly household names, but that are being explored as potentially useful technologies: Polygon, Helium, Celsius, and Maker. It\u2019s dangerous to assume that the relative winners will hold up in the longer term \u2014 cryptocurrencies can move sharply based on trading on opaque unregulated markets and may suffer from low liquidity. With smaller coins, in particular, investors need to understand the platform they are buying into because they are essentially investing in an early-stage venture capital start-up.<\/p>\n\n\n\n

That said, projects that held up in the selloff are worth watching. One reason some of these coins did well may have been because they dodged some of the overall crypto network\u2019s problems during the selloff.<\/p>\n\n\n\n

\u201cOne thing we saw during the panic was that both centralized and many decentralized exchanges had issues keeping up with demand,\u201d Matt Hougan, a chief investment officer of crypto fund provider Bitwise Asset Management, told\u00a0Barron\u2019s<\/em>\u00a0in an email. \u201cMany centralized exchanges simply went down for periods of time during the selloff, as they were overloaded by traders.\u201d<\/p>\n\n\n\n

That may have been the case with Polygon, formerly called Matic, the 14th most valuable cryptocurrency. It is a\u00a0so-called \u201cLayer 2\u201d technology\u00a0that\u2019s built on top of the Ethereum blockchain and is meant to make transactions faster and less expensive. Hougan thinks that Polygon was able to bypass some of the congestion in the system during the selloff because it is meant to process more transactions. \u201cBecause of this approach, their network wasn\u2019t congested,\u201d he wrote. \u201cAs a result, users were able to trade with ease on [Polygon] while other approaches faced challenges.\u201d<\/p>\n\n\n\n

Polygon is involved in some of the hottest areas of cryptocurrencies, including working with trading platforms to make it easier to trade\u00a0non-fungible tokens or NFTs. Right now, trading NFTs can be expensive because of \u201cgas fees\u201d associated with using trading platforms.<\/p>\n\n\n\n

The polygon may have increased for another reason, too \u2014 it appears to be better for the environment than some other coins. It uses a \u201cproof of stake\u201d system to validate transactions on the blockchain. Bitcoin uses \u201cproof of work,\u201d a system that\u2019s much more energy-intensive. Tesla CEO Elon Musk has criticized Bitcoin\u2019s impact on climate change, causing some proof of stake tokens to outperform proof of work ones.<\/p>\n\n\n\n

Helium is a particularly unusual cryptocurrency that is part of a project meant to decentralize wireless communications. Its aim is to get households and businesses to install small telecom hubs on their property \u2014 almost like mini cell towers \u2014 and then reward them with a token called HNT. The company says it has nearly 42,000 hot spots around the world. It has received funding from New York venture-capital firm Union Square Ventures.<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week, almost all the entire cryptocurrencies crashed as news of government crackdowns and other negative headlines have dominated the discussion. Surprisingly, not every coin has been plunging, however. One of the generally positive things about the decline in cryptocurrency values is that different assets are reacting in different ways to the selloff. To be […]<\/p>\n","protected":false},"author":63,"featured_media":3757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81,83,21],"tags":[152,376],"class_list":["post-3756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","category-bitcoin-news","category-news","tag-bitcoin","tag-cryptocurrencies"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/MARKET-CRASH-1170x585-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=3756"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3756\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/3757"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=3756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=3756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=3756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}