JPEX Analysis of Top Gainers within the Period (16th October to 22nd October)

JPEX analyzed all the coins it supports for trading within the week of Sunday, October 16 to Saturday, October 22, and concluded that Casper Network (CSPR), Aave (AAVE), Curve (CRV), Maker (MKR), and Decred (DCR) were the biggest gainers. During the week, JPEX announced that it has strengthened its partnership with Simplex by Nuvei by launching a crypto-friendly card. Coincub also released its latest report on the state of crypto in the third quarter of the year. Germany was ranked first as the world’s top crypto economy while Australia and the United States placed third (3rd) and seventh (7th) respectively. It also revealed that China, Russia, Pakistan, Ethiopia, and Thailand have placed a ban on the use of all forms of cryptocurrencies while Slovenia, Bermuda, Nigeria, El Salvador, and the Central African Republic (CAR) were classified as crypto-curious nations.

Casper (CSPR) Was Up by 17%   

Casper Network was designed to accelerate enterprise and developer adoption of blockchain technology in the modern world and evolve to meet the needs of the future of Web3. Basically, it is a new vision for a new and better internet that involves blockchains, cryptocurrencies, and non-fungible tokens (NFTs). CSPR is the native asset of the Casper Network and opened on Sunday, October 16 with a trading price of $0.03933. The coin reached a weekly high of $0.05363 on the same day and was exchanging hands for $0.04587 on Saturday, October 22. Overall, there was a 17% increase between the opening and closing price of CSPR within the week, according to data from cryptocurrency price tracker CoinMarketCap. Despite its relatively lower price and the bearish market trends, CSPR has been forecasted to trade above its current price before the close of the year. According to the analysts at Price Prediction.net, CSPR could reach an average price of $0.052, a minimum price of $0.050, and a maximum price of $0.054 by the close of 2022. 

Source: CSPR/USD Chart by TradingView 

Aave (AAVE) Spiked by 14% 

Aave is a cryptocurrency liquidity market protocol. With Aave, users can deposit their cryptocurrency tokens to provide liquidity to the market and earn interest on them. 

AAVE is the novel token of the Aave Protocol. AAVE opened on Sunday, October 16 with a price of $71.95, reached a weekly high of $85.22 on Wednesday, October 19, and was exchanging hands for $82.45 on Saturday, October 2022. Overall, this equated to a 14% rise in AAVE’s price within the week. Analysts at FX Leaders pointed out that factors such as flash loans, decentralized finance (DeFi) adoption by institutional investors, and positive market sentiment could reflect positively on the valuation of AAVE. According to the analysts, AAVE could trade between $2,200 and $2,300 by the year’s end of 2022. 

Source: AAVE/USD Chart by TradingView 

Curve DAO (CRV) Increased by 8% 

Curve is an Ethereum token that powers Curve.fi, a decentralized exchange (DEX) and automated market maker protocol. Basically, Curve is designed in a way to make it easy for users to swap ERC-20 tokens (tokens housed in the Ethereum ecosystem) like DAI and USDC stablecoins as well as Ethereum-based tokens such as Wrapped Bitcoin (WBTC) and renBTC. 

CRV is the novel token of Curve and it has brought awesome gains to many investors. Crypto winter has not been kind to the industry and CRV was among the tokens hardly hit by negative market sentiment. 

CRV opened on Sunday, Oct. 16 with a trading price of $0.8058, reached a weekly high of $0.9185, and was exchanging hands for $0.8756 on Saturday, Oct. 22. There was an 8% ascension in CRVs price. 

Analysts at Gov. Capital project CRV to trade for a regular price of $2.144, the least possible price of $1.8244, and the best possible price of $2.4656 on the last day of 2022. 

Source: CRV/USD Chart by TradingView 

Maker (MKR) Soared by 5% 

Maker token (MKR) is the utility token that provides functionality to the Maker platform and works alongside its Dai stablecoin. MKR plays many roles which include enabling the payment of fees and interests on the Maker platform as well as providing voting rights to holders. Like the aforementioned coins and tokens, MKR opened at $968.64, reached a weekly high of $1,144.94, and was exchanging hands for $1,017.63 on Saturday. Overall, there was a 5% increase in MKR’s price. 

Analyst David Cox at CryptoNewsZ is highly optimistic and estimates MKR to reach a price of $2,890.59 by the close of 2022. 

Source: MKR/USD Chart by TradingView 

Decred (DCR) grew by 2% 

Decred is a cryptocurrency that has combined the Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus mechanisms. DCR is the native asset of Decred. The coin gained 2% after opening and closing the week at $25.41 and $26.15 respectively. DCR reached a weekly high of $29.02. Digital Coin Price analysts believe DCR could reach a maximum price of $32.33 by the close of the year if the bulls return.    

Source: DCR/USD Chart by TradingView