Has the cryptocurrency market managed to pick itself up and prepare for a turnaround? That’s the question on the minds of everyone focused on crypto. With strong performance over the past week, it's tempting for crypto investors to think this, but January teased a similar trend before prices plunged back to support levels. Still, there are some tokens that indicate their gains may be more permanent.
This week, we examine Filecoin (FIL), Internet Computer (ICP), Astar (ASTR), Stacks (STX), and VeChain (VET). In selecting these assets, we have considered several factors, including positive technical developments, significant news events, and noticeable changes in price.
Filecoin (FIL) turned in one of the largest price increases in the last week amid some sizable developments. The first is the upcoming release of the Filecoin Virtual Machine (FVM), which is a runtime environment for smart contracts on the network. The Filecoin team has said the release is close.
The project has also been hosting several events, with its biggest community event of the year slated for March 1. This has likely contributed to increased exposure online for the project. FIL started last week at around $4.90 and is now valued at around $8.70.
The Internet Computer (ICP) project, which is attempting to create a decentralized internet, recorded a price increase above 30% for its token over the past week. The project has attracted attention for the strong growth it has shown, in terms of its ecosystem and general network metrics.
The ecosystem growth includes custody solution AirGap adding support for ICP.Growth metrics worth noting include major spikes in social engagement and a roughly 1,800% increase in network activity in 2022.ICP was priced at
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