Pre-election DOGE and other top-performing altcoins in the last week of October
Pre-election DOGE and other top-performing altcoins in the last week of October
According to CoinMarketCap, most of the top 100 altcoins ended the last week of October in the red. However, a few key altcoins saw significant gains, with DOGE standing out, rising 16% over seven days to nearly $0.16.
This spike was partly fueled by former U.S. President Donald Trump's campaign tour featuring Elon Musk, who was introduced at each event as the potential future head of a Department of Government Efficiency (D.O.G.E).
Raydium (RAY), a token built on the Solana blockchain, also surged by over 12% to $3.42. This increase was driven by heightened interest from whale investors, pushing Raydium’s total value locked (TVL) to a seven-month high of $1.8 billion.
In terms of 24-hour fee generation, Raydium surpassed Ethereum, solidifying its role as the leading decentralized exchange (DEX) on Solana in partnership with Serum.
DeFi trust rebound and growth in RWA
The token of decentralized finance (DeFi) platform Maker (MKR) saw a 9.6% increase, reaching $1.21. MakerDAO is on a difficult path of recovery, down nearly 70% from April. However, the platform recently joined the top ten decentralized applications (dApps) in weekly revenue, suggesting restored client trust.
Another standout performer this past week was MANTRA, a network designed to bridge Web3 applications with traditional finance and real-world assets (RWA). MANTRA’s OM token grew by 9.5%, reaching $1.4.
MANTRA supports scalability with up to 10,000 transactions per second and provides institutional clients with blockchain solutions that comply with current regulations. Additionally, the network offers its own DEX and services for crypto asset management and trading.
