Since last week, the crypto market has been recording massive gains, with Bitcoin increasing in value by 36%. Alt-coins have also seen a surge in their prices, with Fantom, MAGIC, Conflux, Stacks, and Mask Network leading the way.
In the past 24 hours, Conflux Network (CFX) has seen gains of 15% and 147% in the past week. The token is trading at $0.44 and has a market cap of $1.12 billion, according to data from CoinMarketCap.
Conflux is a Proof-of-Work layer-1 blockchain built by developer Andrew Yao in 2018. It is intended to address various issues in the blockchain industry, such as decentralization, security, interoperability, and scalability.
Mask Network (MASK) has posted gains of 37% in the past day and 130% over the past week. The coin is trading at $6.3 and has a market valuation of $485 million.
Mask network provides a platform that lets people communicate securely and engage with various dApps (Decentralized Applications).
Stacks (STX) increased by 14.4% in the last 24 hours and recorded 7-day gains of 112%. The crypto asset is currently priced at $1.24, with a market cap of $1.7 billion.
Stacks is a blockchain that employs a Proof-of-Transfer consensus mechanism, which allows the network to connect to Bitcoin. In 2022, Stacks announced plans to launch Stacks 2.1 this year. The upgrade is expected to enable the blockchain to offer better integration and stacking in an effort to attract more developers.
MAGIC is up 15% in the past 24 hours and rose 78.1% over the past week. The token is trading at $1.81 and has a market cap of $385.1 million.
MAGIC is a metaverse token used as currency on Trove, a decentralized NFT marketplace. Some of the projects listed on Trove that are using MAGIC include Smolverse and LIFE.
Over the past 24 hours, Fantom (FTM) has seen gains of 13% and increased by 63% in the last seven days. The token is changing hands for $1.12 and has a market cap of $3.7 billion.
Fantom Foundation touts Fantom as a smart-contract platform that provides scalability, security, and high performance.