Weekly Market Review: LINK, FTM, BONK, FLOKI, JASMY
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This week has been good for meme coins as they appear among the week’s top gainers. This week’s pump can be attributed to the April CPI report, which showed that core inflation moderated last month while retail sales cooled more than expected.
Chainlink Price Review
Its price movements show that Chainlink (LINK) has been this week’s top gainer. As of press time, Chainlink, trading at $16.70, had seen a 22% pump from its previous seven-day price, as its market cap stood at $9.8B during the same period.
Chainlink’s pump over the week can be attributed to a collaboration with RapidAddition. This collaboration enables institutional firms to interact with a wide range of tokenized assets through a FIX-native blockchain adapter powered by Chainlink’s CCIP, which might have added more investor optimism.
GBBC member @ChainlinkLabs has announced a collaboration with #RapidAddition, enabling institutional firms to interact with a wide range of tokenized assets, through a FIX-native #blockchain adapter powered by @Chainlink's #CCIP
— Global Blockchain Business Council (GBBC) (@GBBCouncil) May 16, 2024
Read the announcement
Fantom Price Review
Fantom (FTM) has been among this week’s top gainers, as seen from its price movements. As of press time, Fantom, trading at $0.8797, had seen a 20.03% pump from its previous seven-day price, as its market cap stood at $2.4B during the same period.
The rise in the Fantom price can be attributed to their recent announcement that the FantomIndia validator node has been upgraded to Sonic tech. This development might have sparked more investor interest, bringing the prices up.
Happy to announce that FantomIndia validator node is now upgraded to Sonic tech
— FantomIndia Validator #48
I am excited and honored to be a Fantom validator for the past 4 years. Future is even brighter with Sonic
Thank you @FantomFDN , @michaelfkong , @AndreCronjeTech and $FTM community for your trust pic.twitter.com/wsfTdIJfVL(@Fantom_India) May 17, 2024
Bonk Price Review
Bonk (BONK) has been among this week’s top gainers, as seen from its price movements. As of press time, Bonk, trading at $0.0000271, had seen a 17.76% pump from its previous seven-day price, as its market cap stood at $1.7B during the same period.
Bonk’s price surge this week can be attributed to the current meme coin supercycle, which has seen several meme coins surge, conversely affecting the meme coin’s prices this week.
Floki Price Review
Floki (FLOKI) is another gainer this week, as seen from its price movements. As of press time, Floki, trading at $0.0002004, had seen an 18% pump from its previous seven-day price, as its market cap stood at $1.9B during the same period.
Floki’s recent surge can be attributed to the recent Floki DAO, which voted to burn 15,246,000,000 $FLOKI tokens. An overwhelming majority of 99.84% voted in favor of the burn.
JasmyCoin Price Review
JasmyCoin (JASMY) has also been among the gainers over the past seven days, as seen from its price movements. As of press time, JasmyCoin, trading at $0.02017, had seen a 13.6% pump from its previous seven-day price, as its market cap stood at $994M during the same period.
JasmyCoin’s recent pump can be attributed to the announcement of Jasmy’s Incubated program. Since then, increased interest in the token has caused an increase in its price.
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