Cryptocurrencies To Watch: Week of December 19

Alice Morgan / Investopedia
Alice Morgan / Investopedia.

Keep An Eye On These Coins

The last seven days weren’t the best for the crypto market. Most tokens followed bitcoin, which experienced ups and downs as it attempted to break out of its bearish zone. Its value has fallen back under $17,000, and other tokens are in a similar condition. However, a few tokens recorded some strong movements. 

This week we examine Toncoin (TON), OKC (OKT), UNUS SED LEO (LEO), XDC Network (XDC), and DigiByte (DGB). In selecting these digital assets, we have considered several factors, including positive technical developments, significant news events, and noticeable changes in price.

Key Takeaways:

  • The Open Network (TON) was the biggest gainer this week, with a 40% increase following the introduction of a no-SIM signup feature.
  • The OKC Token (OKT) experienced a 21% price increase after OKCoin Japan announced the listing of Shiba Inu. DAO infrastructure company Hedgey also launched on the OKC network.
  • UNUS SED LEO (LEO) recorded a market capitalization increase of 10% after Bitfinex enabled deposits and withdrawals for the Chinese yuan on the TRON network.
  • The XDC Network (XDC) had a 20% increase in market cap after the integration of the first Euro-backed stablecoin on its network.
  • The DigiByte (DGB) token rose by 10% following a partnership with the LCX exchange.

1. Toncoin (TON)

Toncoin is the famous token of The Open Network, a project inherited from Telegram. While it is no longer run by Telegram, the project continues to make progress through community development. 

The Toncoin token posted a massive 40% jump in price over the week after it announced a no-SIM signup feature. Furthermore, the number of wallet holders on the network also increased and the Gate.io exchange introduced TON/USDT pair for futures trading.

Toncoin is now priced at around $2.69 (see chart below).

TON (Trading View)
TON (Trading View).

2. OKC Token (OKT)

The OKC Token of the OKC exchange turned in a 21% price jump after OKCoin Japan confirmed it would list meme coin Shiba Inu. OKCoin Japan is one of the country’s biggest crypto exchanges.

Another reason why the token jumped is tied to the fact that decentralized autonomous organization (DAO) infrastructure company Hedgey launched on the OKC network. Users can use the Hedgey protocol to distribute locked tokens and perform DAO-to-DAO token swaps.

The OKC Token was priced at $20 last week and is now valued at around $23.42 (see chart below).

OKC (Trading View)
OKC (Trading View).

3. UNUS SED LEO (LEO)

Bitfinex’s UNUS SED LEO (LEO) token experienced a 10% gain in market cap in the week. The jump in value is likely because Bitfinex enabled deposits and withdrawals for Chinese yuan on the TRON network.

The LEO token offers benefits to users in the iFinex ecosystem. These include discounts on trading on Bitfinex such as taker fee reductions. iFinex also has committed to buying back the tokens until none remain in circulation.

UNUS SED LEO is now valued at around $3.89 (see chart below).

LEO (Trading View)
LEO (Trading View).

4. XDC Network (XDC)

The XDC Network (XDC) token's market cap rose 20% after a major integration. The team announced that STASIS would integrate its euro-backed stablecoin on the XDC network.

The EURS stablecoin has become the first euro stablecoin on the XDC Network, which is a “hybrid blockchain that functions to improve global trade and finance via enterprise-grade interoperable dApps.”

The XDC Network token is now trading for around 2.4 cents (see chart below).

XDC (Trading View)
XDC (Trading View).

5. DigiByte (DGB)

The price of the DigiByte token (DGB) increased by 10% over the past seven days after a partnership with the LCX exchange was announced. The partnership will involve LCX making a one-time donation to the DigiByte Foundation, among other actions. Half of trading fees on the new DGB/USDC pair will go to the DigiByte Foundation for a set amount of time.

The DGB/USDC pair has been listed on the exchange. The exchange will also run a full DGB node to support the network.

The Digibyte token was priced at 0.076 cent last week. It is now valued at around 0.082 cent (see chart below).

DGB (TradingView)
DGB (TradingView).

Investing in cryptocurrencies and other initial coin offerings (ICOs) is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Because each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date when this article was written, the author does not own the cryptocurrencies mentioned above.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. CoinMarketCap. "Bitcoin."

  2. CoinDesk. "Telegram's No-SIM Signup Feature Helps Toncoin Rally, Bitcoin Also Higher."

  3. Beincrypto. "What's Behind the 40% Toncoin Price Increase?"

  4. Capital.com. "Toncoin Up 11%: Telegram-Backed TON Continues to Rise as Number of Wallet Holders Increases."

  5. OKCoin Japan. Press Release in Japanese.

  6. Hedgey Finance. Twitter. "Dec. 15, 2022., 8:55 p.m."

  7. Bitfinex. "Bitfinex First Exchange to Enable Deposits and Withdrawals for Tether Offshore Chinese Yuan (CNJt) on TRON."

  8. XDCFoundation. Twitter. "Dec. 12, 2022, 2 p.m."

  9. LCX. "LCX and Digibyte Foundation Partnership."

Take the Next Step to Invest
×
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.
Service
Name
Description