At the start of each week our team summarize the results of the previous one. We discuss news, trends, the total market capitalization and try to predict the cryptocurrency prices for the coming week, as well as inform about the winners of our weekly top 10 competitions. This is the 16th edition, and we do not intend to stop! So, let’s get started!
Last week, the market capitalization grew only by 1.5% and totaled $299 billion. Although Bitcoin (BTC) tried to make a breakthrough upwards and pass the $12,000 mark, the price eventually reached $11,400, which is equivalent to a 4% increase over the week. Of the top 100 crypto coins, Platincoin (PLT) showed the highest growth, adding 25% to its value. The GXChain project lost the most value of all crypto coins, showing a result of -27% in a week.
The overall market situation remains uncertain, with the absence of big news, and continued pressure on the crypto industry from the US and UK fiscal authorities, preventing the crypto market from reaching new heights. Bitcoin’s (BTC) growth has slowed down since the early summer rally, and the value is currently at approximately the same level.
Such a situation,when there are no new minimums and maximums of the price, is called flat. It allows investors to earn money through short-term speculation. By buying cheaper and selling at a higher price in a predictable market, it is possible to show quite successful results. How did Plutus Wallet users handle this situation? Let’s find out!
Top 10 Portfolios. Base Currency — USDT
The winner of the this week’s leaderboard, Asparagus Hawk #4692, showed a remarkable result, increasing his portfolio by 99.42% due to a combination of Bitcoin (BTC) and Freychain (FREC) and Tether (USDT). The result of the second-placed portfolio was quite close to the top spot, with a result of +98.13%. Apparently, it was the final choice of coins that that influenced the result, with Bitcoin (BTC) being replaced by Patron (PAT). The overall result of the participants of the competition continues to improve – even the portfolio ranked tenth showed an impressive result of +79.12%.
As you can see in the screenshots, the choice of coins was quite diverse. However, not only this has affected the results. All contestants used a special feature of Plutus Wallet – Rebalance (for more details see our article). By modifying the periodicity of rebalancing, as well as selecting an interesting combination of crypto coins, it is possible to achieve significant profitability, even when the overall situation on the market does not suit this. This week’s winners results only confirm this statement.
Please remember, that we reward all winners of our top 10 competitions with Plutus Coins, which can be exchanged for real money. If you want to understand the crypto market and earn money without risking anything, you should install our application (Android version, iOS version, PC version) and start experimenting with your crypto Pie!