FEGToken, Tenset led crypto gainers this week

FEG Token and Tenset led crypto gainers this week, while Bitcoin Cash and Bitcoin Diamond have suffered the worst declines in the past seven days among the top 200 coins, according to Cryptorank.

FEG (“Feed Every Gorilla”) Token was up 100 per cent for the past week. Cryptorank list it the No. 95 cryptocurrency with a total market cap of US$842 million.

“FEG is an experimental progressive deflationary DeFi token,” its website says.

“The main idea behind FEG is to provide a decentralised transaction network which operates on the Ethereum blockchain and the Binance smart chain (BSC)”.

An African gorilla charity receives some of the proceeds of the token — but not much. The coin’s website says the token’s team will match the first $US750 in donations from the community every month.

Tenset meanwhile has been up by a third in the past seven days.

The coin’s website describes it as an “aggressively deflationary token with (a) smart staking system”.

It’s not clear what problem either token aims to solve, at least not from a quick review of their whitepapers.

Both seem to more about making money for stakeholders through deflationary token burns — meaning a small percentage of coins in each transaction are destroyed or distributed back to existing holders, somewhat similar to Safemoon.

On the flip side, Bitcoin Cash and Bitcoin Diamond were both about 12 per cent for the week, with Tezos and 0x Protocol close behind.

The post FEGToken, Tenset led crypto gainers this week appeared first on Stockhead.

Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *