Biggest weekly movers: XLM, ADA, and NXM skyrocket in the first week of 2021

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Jan 7, 2021
  • The crypto industry is experiencing a massive bull run — one led by Bitcoin which is still above $37k.
  • While Bitcoin took the lead again, it is far from being the best performer.
  • That title goes to Stellar, Cardano, and NXM — all three of which saw impressive weekly price growth.

Only hours ago, Bitcoin (BTC) made a new all-time high as it crossed the $37,000 barrier. However, it is not the only top performer, as there are plenty of altcoins that are making headlines as the market-wide crypto rally finally kicked off.

In fact, on a weekly basis, there are many coins that have performed better than BTC, within the range of their own abilities, of course. All of them together contributed to the total crypto market cap, which just passed $1 trillion for the first time in the history of cryptocurrency.

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However, when it comes to the top weekly performers, there are three altcoins that need to be mentioned, and those include Stellar (XLM), Cardano (ADA), and NXM (NXM).

Top weekly crypto market performers

1) Stellar hits a resistance at $0.4

Stellar is the past week’s top performer, with its price currently being 174% higher than it was one week ago. The coin skyrocketed from $0.1309 to $0.4 in a matter of days. It was stopped after hitting the resistance at $0.4 just as it was about to go past it, and since then, its price experienced a slight correction.

Even so, XLM still sits quite high, with the current price of $0.3497 and a market cap of $7.7 billion. The coin is currently the 9th largest cryptocurrency, whose price went up by 30% in the last 24 hours alone.

Now, while XLM may be a bit below its weekly high — and quite far away from its ATH of $0.9381 — the coin still has excellent potential to keep surging and breach the resistance at $0.4 in days to come.

2) Cardano surges by 100%

The next altcoin on the list is Cardano (ADA), which started surging on January 3rd. Since then, the coin skyrocketed by around 100%, going from $0.174 to $0.35. The coin’s market cap climbed to over $10 billion, while ADA itself managed to outperform Bitcoin Cash and land on the sixth spot on the list of largest cryptos by market cap.

Cardano has seen more than decent success in 2020, as it launched its Shelley upgrade. However, it has yet to enable smart contracts, and when it does — developers will be ready to start producing DeFi projects, dApps, and more.

This will be beneficial for investors, as well, as Cardano is bound to see a lot more usage, use cases, and, in the end — investments. With the demand about to grow, it is not surprising that the coin’s price is skyrocketing, as well.

3) NXM becomes the third-best performer

Lastly, there is NXM, which has been trying to grow as soon as 2021 arrived. However, the first three days of this year forced the coin to remain down, below the resistance at $26. The coin attempted to surge past this level three times, and three times it was immediately shot down to its supports.

After January 3rd, however, the crypto bull run gave NXM a chance to join and borrow the necessary strength. The coin did so, and it quickly left the tenacious resistance behind. Of coure, it ran into other resistances as well, some of which were breached, and some of which prevented it from going further up.

Regardless, the coin hit $36.8 earlier today, after surging by over 65% in the last few days. The last 24 hours alone saw its price go up by 11%, which is an excellent performance. Presently, the coin has a market cap of $200.2 million, which places it at the 86th spot on the list of largest cryptos by market cap.

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