4 altcoins that surpassed all other coins this week

In addition to Bitcoin and Ethereum, many other Altcoins posted enormous gains. That’s why today we’re taking a look at four cryptocurrencies that have outperformed all others in the past few days.

After Bitcoin rose enormously, especially in 2020, this trend has also had an impact on the rest of the crypto space. Now the altcoins are following suit. In the following we consider the four top performers of the 100 largest cryptocurrencies on CoinGecko (02/04/2021).

4. SushiSwap (SUSHI): 121.6 percent price increase

SushiSwap is Ethereum’s second largest decentralized exchange (DEX). SUSHI is a fork of UniSwap, the largest DEX in the world . In terms of functionality and appearance, SushiSwap is almost identical to UniSwap.

Still, there are some significant differences. The DEX rewards those who provide liquidity on SUSHI with SUSHI tokens. This process is called liquidity mining and ended at UniSwap last year. Compared to UniSwap, liquidity mining on SushiSwap is expected to continue until 2023.

In addition, the Altcoin SUSHI not only serves as a governance token, with which owners can participate in the development of the SushiSwap protocol, but SUSHI owners also participate in the profits of the decentralized exchange. The trading volume on SushiSwap regularly amounts to more than 300,000 million US dollars a day .

3. SwissBorg (CHSB): 144 percent price increase

SwissBorg is a decentralized asset management platform that is accessible to everyone and is based on blockchain technology. SwissBorg aims to make investing in cryptocurrencies as easy as possible. In addition, users on SwissBorg can receive interest on their Bitcoins and Altcoins.

In addition, SwissBorg has its own token that has multiple purposes. On the one hand, it serves as fuel for the entire SwissBorg network. On the other hand, it can be used for staking, to get discounts and to guarantee users voting rights on the platform.

In addition, CHSB is also used for the distribution of rewards through the “Proof of Meritocracy” concept and the “Protect and Burn” policy of the decentralized organization. The purpose of this policy is to increase the scarcity of the token and increase the value of the existing tokens by burning the supply from the generated revenue.

2. Uma (UMA): 291.7 percent price increase

UMA is a Decentralized Finance (DeFi) Altcoin, the abbreviation for “Universal Market Access”. The decentralized protocol wants to make the financial market accessible to everyone and uses the Ethereum blockchain for this. It can be assigned to the DeFi derivatives sector and is one of the largest projects in this area.

On Uma, you can create custom synthetic tokens backed by UMA or other altcoins that can track the course of virtually anything. These include stocks, raw materials and currencies. Each asset is mapped with an ERC-20 token and made tradable without actually having any exposure to the real asset itself.

In addition, the UMA token holder has a say in the further development of the Uma protocol. In addition, the team behind Uma is highly professional and consists, among other things, of former Goldman Sachs employees.

1. Dogecoin (DOGE): 621.9 percent price increase

Dogecoin outperformed all other altcoins this week. Although the Altcoin was originally intended as a parody of Bitcoin and the rapidly growing number of cryptocurrencies, DOGE’s price soared this week .

In particular, tweets from Elon Musk and various Telegram groups catapulted the meme altcoin to a new all-time high.