Phala (PHA), RichQuack (QUACK) và Mdex (MDX) were part of last week’s top gainers, according to data from CoinMarketCap. PHA was up 194%, MDX was up 114% and QUAK was up 118%.
RichQuack, a meme coin based on the BNB chain, has been up 236% in the last 90 days and is one of the best-performing coins on the market. Social media interest in the token is also high, as it topped the watchlist on CoinMarketCap in August and is second for the past seven days.
With a market cap of $109 million and a trading volume of $4.9 million in the last 24 hours, it is currently trading at $0.0000002422.
The token’s recent rise is partly due to it being burned. It has a total supply of 100 trillion and 50% of it was scheduled to burn. About 89 trillion QUACK have been burned in the past seven days. Its deflationary nature and utility are possible catalysts for the rise.
PHALA NETWORK (PHA)
Phala Network (PHA) is trading at $0.2710 after gaining more than 200% in a week. The privacy-focused cloud network token doesn’t look like it’ll stop growing anytime soon, as it’s gained 15% in the past 24 hours.
The network has seen a number of recent upgrades and innovations on its platform. It has also been listed on crypto exchanges like Gate.io, increasing the exposure of the token. According to CoinMarketCap data, its market capitalization has grown by more than 70% in the past 24 hours to over $1 billion.
MDX is also up 114% on the week to trade at $0.1355. But unlike PHA, it has dropped in the last 24 hours, losing 14.69%. Its trading volume during this period was also just $80 million.
The native token of the decentralized exchange Mdex has seen a positive price performance in the week following the announcement of the new trading feature on the DEX. The total value of assets locked in the DEX has increased by more than 15% over the past 7 days to $127.46 million, according to DeFillama data.
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