The past week was quite a busy one, full of events and news. The total capitalization of the market moved in several directions. Earlier this week, the news came out about the arrest of the founding team of the Chinese crypto Ponzi scheme, Plus Token, and the scamming of $3 billion. Then there was that mass mailer campaign by the U.S. Internal Revenue Service (IRS) to cryptocurrency users about taxes. Unsurprisingly, the crypto market volume fell to $253 billion. However, towards the end of the week, as the Bitcoin price (BTC) dropped to $9,700, major investors began to actively buy cheapened cryptocurrencies. After the news of the NYCE trust license and the imminent launch of BAKKT platform, purchases continued, allowing the market to recover to $281 billion. The Bitcoin price at the end of the week was $10,700. Of the top 100 crypto coins, You Coin (YOU) showed the highest growth, adding 58.5% to its value, while ABBC coin showed the biggest decrease with a rate of 28%.
Such diverse and active dynamics of the market gives a lot of opportunities to make a profit. Many of our users have shown increased growth of their portfolios. Check out their strategies and see the results of the past week.
Top 10 Portfolios. Base Currency — USDT
Our users applied a wide range of strategies, and the weekly leaderboard includes many interesting virtual portfolios. For example, the user in second place, Magenta Haze Camel #9796 showed comparable profitability to the virtual Pie in the first place, with a value increase of 96.36% over the week. By allocating his portfolio into five different crypto coins, namely Tether (USDT), CrowdWiz (Wiz) Bytecoin (BCN), Emercoin (EMC), Ardor (ARDR), this virtual Pie has great potential for further growth. It is also worth noting the choice of cryptocurrencies of the user who took 5th place — Tether (USDT), Emercoin (EMC), DomRaider (DRT), Edgeless (EDG), Patron (PAT).
The overall result of the top 10 best portfolios is quite high. To reach the tenth place in the weekly leaderboard, it was necessary to increase the portfolio’s growth by more than 70% over the week, which, of course, is not easy for newcomers to the crypto market.
If you have just started to explore the crypto market, or your portfolios do not show such high profitability, don’t get upset! Instead, use the available features in Plutus Wallet, such as copying other users’ portfolios or rebalancing, experiment and analyze price movements, and soon you will find yourself among the best!
If you want to stay up to date with the most interesting news and develop a better understanding of the cryptocurrency market in 2019, please do join us on Facebook, Telegram, Twitter, Reddit, or Instagram.
To join our other Plutus Wallet competitions — the daily and monthly Top 10 Leaderboards, download the Plutus Wallet app (iOS, Android, and Desktop versions are supported)and start managing your crypto portfolio.