The first altcoin on our list is Ethereum Classic (ETC). Ethereum Classic is a network that uses smart contracts to run decentralized applications. Ethereum Classic can be described as an open-source, blockchain-based distributed computing platform with smart contract functionality.
The network became operational in 2016 due to the hacking of the DAO. DAO is a smart contract running on the Ethereum network. ETC is an open-source and blockchain-based cryptocurrency that runs on smart contracts. ETC is similar to Ethereum because of many common features. In the last 7 days, the ETC price has increased by 13.4%.
Another altcoin that made its investors happy this week was Quant (QNT). According to the website, QNT is a token used to support Quant Network's ecosystem. The project aims to break into public blockchains and private systems. Quant Network allows mDapps configuration, which allows decentralized applications to run simultaneously on key blockchains. QNT price has increased by 21% in the last 7 days.
Another altcoin that has seen notable gains this week is Polygon (MATIC). Polygon is an Ethereum network scalability solution. The Ethereum blockchain was the first platform to implement smart contracts and put Ethereum at the forefront of decentralized applications. However, as the number of smart contracts increased, Ethereum struggled to make transactions fast and efficient. The Polygon mesh was born from this to fill the void in this process. Polygon is a layer 2 solution that rivals the Ethereum blockchain using a second level and multiple sidechains. In the last 7 days, the MATIC price has increased by 25%.
Another altcoin that gained momentum this week was Arweave (AR). Arweave is a next-generation decentralized storage network. Arweave can be defined as a decentralized protocol that uses a blockchain to securely and permanently store global information. Arweave is a software that aims to permanently store files on a distributed computer network. In the last 7 days, AR price has increased by almost 33.2%.
This week's top-earning cryptocurrency was Lido DAO (LDO). Lido DAO is an unattended staking solution for Ethereum, Terra and Solana ecosystems. Lido provides a platform for individuals and businesses to pool their token assets to be staked on Proof-of-Stake (PoS) based blockchains in exchange for various reward incentives. Lido is a protocol that aims to provide users with betting options on various blockchains. Staking is still a new idea in the digital asset world and many people are unaware of the benefits of staking their assets. In the last 7 days, the LDO price has increased by almost 129%.