This article also seeks to address the following;

What is the best crypto to watch?

How can I watch cryptocurrency?

What is the best cryptocurrency price tracker?

What is the next cryptocurrency to explode in 2023?


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The latest week saw a slight slowdown in the current surge of the cryptocurrency market as Bitcoin dropped back to around $22,000.


1. Although the market is trading better than it was a few months ago, there may be a few more resistance levels to overcome before the market can begin a bull run. Some cryptocurrency tokens are still outperforming the market, though.


We look into Shiba Inu (SHIB), The Graph, MAGIC (MAGIC), Render Token (RNDR), SingularityNET (AGIX), and Shiba Inu this week (GRT). We took into account a number of variables when choosing these assets, including favorable technical trends, noteworthy news stories, and price variations.


KEY LESSONS

The AGIX token from SingularityNET was one of the top gainers this week, increasing 150%, probably as a result of the discussion surrounding the chatbot ChatGPT that sparked interest in artificial intelligence (AI).

Following the introduction of a new tokenomics model and the formation of the Render Network Foundation, the price of RNDR, the Render Token, increased by 51%.

The price of Magic (MAGIC) also rose by about 50%, probably because to the ongoing fascination with the metaverse.

Shiba Inu (SHIB), the meme token, had a 23% price increase, probably as a result of a rising burn rate and an increase in network activity.

The price of The Graph (GRT) increased by more than 48% following news of expansion across a number of key metrics.

SingularityNET (AGIX) The free chatbot ChatGPT is generating a lot of interest for SingularityNET (AGIX), a decentralized AI project.


The price of the project's AGIX token increased by 150% in a single week, potentially as a result of interest and the flood of ChatGPT users.

The token costs roughly 44 cents 



Users of SingularityNET can browse and purchase AI services using the AGIX money. It is essentially a decentralized marketplace for AI, and its ecosystem is rapidly growing.



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Make Token (RNDR)



Over the previous week, the price of Render Token increased by 51%, most likely as a result of two significant events.

First, the project introduced the Burn Mint Equilibrium tokenomics model (BME).

The Render Network Foundation was also established; it is a non-profit organization "committed to maintaining the core Render Network protocol and expanding its community and environment."

Users can render 3D designs using render across a distributed network. The service is paid for using the RNDR token. RNDR started last week at $1.19 and is currently worth about $1.90.


MAGIC (MAGIC) 

According to the performance of such tokens, such projects, like MAGIC (MAGIC), continue to dominate investment trends in the cryptocurrency market. The Treasure metaverse, a decentralized non-fungible token (NFT) environment created for metaverse projects, has MAGIC as a valuable resource.

Due to the continuous interest in the metaverse, the value of the MAGIC token increased by roughly 50% last week.



Additionally, the popularity of blockchain-based gaming ecosystems has increased, which appears to have benefited the MAGIC token. The linked Treasure ecosystem and Trove marketplace have also seen increased activity.

After beginning last week at roughly $1.29, the price of 9 MAGIC is currently around $2. 



Shiba Inu meme token (SHIB) Despite the crypto winter, Shiba Inu (SHIB) has been performing reasonably well over the past few months. The project's creators are still working to enhance the ecosystem, which has led to an increase in network activity.



The price of SHIB has also increased due to an increase in burn rate.

These efforts taken collectively have increased SHIB by more than 23%.

The project is starting to resemble a utility token more so than a meme token, which may be advantageous for it in the long run. SHIB began trading a week ago at 0.000012 cents and is currently valued at about 0.000014 cents (see chart below).

SHIB relative to the US dollar, week ended February 6 SHIB 

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The Diagram (GRT)

The price of The Graph (GRT) increased by more than 48%, most likely as a result of improving trends in several of its key measures.

An analysis of the project by Cypto market intelligence supplier Messari revealed that the number of active indexers, delegators, and curators for GRT all rose from one quarter to the next.

Indexers are the node operators on a proof-of-stake (POS) network like The Graph, driven by the desire to receive money rewards. Although they are also driven by financial considerations, delegators are in charge of validating blocks, protecting the network, and maintaining the general functionality of the blockchain. GRT is used by curators to indicate which subgraphs are worthwhile to index.


The Graph is an indexing technique that gives consumers access to material that is gathered from many sources.



The team behind The Graph is also focusing on adding support for new chains to the system. Currently, GRT costs about 13 cents

Week ending February 6 GRT vs. the US dollar (TradingView)