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Altcoins of the day: SNX, COMP, SOL, STX, ZEC

Altcoins of the day: SNX, COMP, SOL, STX, ZEC

As the largest part of the cryptocurrency market continues to switch between the red and green waves, taking the cue from the flagship decentralized finance (DeFi) asset that has recently crossed the crucial $30,000 threshold, some altcoins have stood out with their daily gains.

Indeed, the positive developments around some of these alternative digital assets have helped them move up to the top of the recent list of strongest daily gainers retrieved by Finbold from the crypto tracking platform CoinMarketCap on June 29.

Top 24-hour gainers. Source: CoinMarketCap

SNX and COMP top the list

Specifically, Synthetix (SNX) has continued building on its weekly gains of 12.13% by racing 8.16% in the last 24 hours and moving to reverse the monthly loss of 9.38%, as its founder Kain Warwick discussed user experience in a recent podcast, arguing that it needed to be smoother to guarantee the long-term success of the sector.

Behind Synthetix is Compound (COMP), which has rallied 7.29% on the day, in addition to the increases on its weekly (+51.37%) and monthly (+27.25%) charts after its CEO filed with the United States Securities and Exchange Commission (SEC) for a company called ‘Superstate,’ which would create a short-term government bond fund using the Ethereum (ETH) blockchain as a secondary record-keeping tool.

SOL, STX, ZEC follow

Meanwhile, Solana (SOL) has grown its price by 6.69% over the previous 24 hours, as it managed to cross the psychologically important thresholds at $15.50, $16, and then recently $17, indicating strength to continue upward and seeking to put behind the losses of 0.64% across the last seven days and of 17.17% on its monthly chart.

Despite losing 15.76% to its price across the previous seven days, Stacks (STX), a Bitcoin (BTC) layer for smart contracts, has gained 5.95% on the day and 14.51% over the past month, thanks to its close connection to Bitcoin and the fact that it is one of the rare altcoins that the SEC has officially approved.

Finally, Zcash (ZEC) has profited off investors questioning the claims by the head of the Bank of England’s central bank digital currency (CBDC) project that the institution would not share the collected data with any government organizations in a proposal similar to that already offered by privacy coins such as Zcash, Monero (XMR), and Dash (DASH).

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