[비즈한국] We summarize and deliver the market status and trends of the top 300 cryptocurrencies by market capitalization over the past week. We provide key information, including major issues for Bitcoin, Ethereum, and the altcoin market, as well as global policy variables, all in one place. You can understand the highly volatile cryptocurrency market as easily and enjoyably as watching Netflix.
According to CoinMarketCap, a global cryptocurrency market tracking site, Zcash (ZEC) recorded the highest weekly growth rate of 61.95% in the crypto market from 7:00 AM on October 3rd to 7:00 AM on October 10th. Currently, the price of Zcash is 306,228 KRW, and its market capitalization reaches 4.9776 trillion KRW.
PancakeSwap (CAKE) recorded the second-highest growth rate at 21.42% for the week. The current price is 5,314 KRW, and its market capitalization is 1.8286 trillion KRW. Mantle (MNT) saw the third-largest increase with a growth rate of 20.00%. The current price of Mantle is 3,395 KRW, and its market capitalization reaches 11.0452 trillion KRW.
BNB rose by 16.11%, marking the fourth-highest growth rate. BNB is the native coin of the Binance exchange and offers various benefits, such as discounts on trading fees. The current price of BNB is 1,784,643 KRW, and its market capitalization is 248.3919 trillion KRW. SPX6900 (SPX) recorded the fifth-highest growth rate at 12.51%. Its current price is 2,040 KRW, and its market capitalization is 1.8994 trillion KRW.
During the same period, OKX Token (OKB) rose by 8.45%, and Bitget Token (BGB) rose by 7.59%. Floki (FLOKI) rose by 5.85%, Bittensor (TAO) rose by 4.10%, and Pax Gold (PAXG) rose by 3.71%.
Zcash provides privacy protection by using "Zero-Knowledge Proofs" technology, allowing transaction parties to trade without verifying each other's identities. Amidst the recent strengthening of the global regulatory environment, Zcash's emphasis on utilizing selective transparency features may have appeared more regulation-friendly, thereby stimulating investor sentiment. Furthermore, the trend of integrating Zero-Knowledge Proof technology into major chains like Ethereum has led to a revaluation of privacy coins in general, acting as a factor for growth.
PancakeSwap is a decentralized exchange that started on the BNB Chain and has recently expanded to multiple chains, including Ethereum and Arbitrum, significantly increasing its liquidity. In particular, the plan to expand the token burn scale following the implementation of reforms to adjust the CAKE token supply structure and curb inflation is being interpreted as a factor that strengthens scarcity. Along with the recovery in trading volume, the possibility of increased fee revenue is being cited as a driver for the price rise.
Mantle is an Ethereum Layer 2 network that boasts scalability and efficiency based on a modular structure. Supported by the strong financial backing of BitDAO and Bybit, it is expanding its ecosystem development. Interest has also increased due to the potential for connection with EigenLayer. With the recent confirmation of on-chain capital movement and the increase in TVL (Total Value Locked), the market is paying attention to its potential to develop into a DAO-centered asset management model in the future.
Experts emphasized, "It is too early to conclude that the interest, which has been focused on meme coins for a while, is shifting toward tech stocks," adding, "In the case of Zcash in particular, since it was included in a delisting vote on Binance last April, it is necessary to approach investments by combining qualitative evaluations with quantitative ones."
※This article was co-written by BizHankook and MetaVX's generative AI.