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Top 3 Coins to Watch – Week 3

By January 20, 2021 No Comments

Judging by the first two weeks we cannot say that the cryptocurrency market has cooled off yet. Yes, Bitcoin does seem to have entered a period of mostly sideways trading with relatively high volatility, but other projects are pulling the space forward now. Just recently, Ethereum stepped into the limelight of the community’s attention by setting its new ATH price. But besides Ethereum, which is definitely worth keeping an eye on, there are many other cryptocurrency projects, that are looking to benefit from significant updates and the increased attention that comes with these upgrades. This week’s selection features three such projects.

1. Curve (CRV)

Curve is a protocol and a platform focused on providing a simple and easy-to-use way to swap certain Ethereum-based assets. The Curve DAO Token is the platform’s native token as well as its governance token. In addition, users providing liquidity to CurveFinance receive their rewards payed out in CRV.

CRV is one of the Most profitable Cryptos of the past 7 days

Ever since the beginning of the year the price of DeFi cryptocurrencies has been growing alongside the general cryptocurrency market. However, the Curve DAO Token (CRV) has been largely left out of this rally, at least until the end of the previous week, when the CRV rally started gaining momentum. The token’s price is up by more than 130% in the past seven days with a largest surge of over 50% seen on January 17. This makes CRV the best performing crypto in the past seven days in the top 100 by market capitalization. The late wake up is largely attributed to the fact that Curve recently added several new trading pairs, such as the ETH/stETH, and ETH/Aave’s interest-bearing assets, and established a collaboration with that will allow any user to deploy trading pools for more esoteric and long-tail assets. Last but not least, CRV’s surge resembles the fact what yield farmers are earning more on Curve now. The fact that already $2.15 billion worth of capital is locked in Curve indirectly supports this statement. The token has been trading sideways in the past day, but it will be definitely interesting to further observe the price action following such a massive surge.

Hedera Hashgraph (HBAR)

Hedera Hashgraph aims to develop the world’s first mass-adopted public distributed ledger that will be able to support a vast array of applications. Using their hashgraph technology, users will be able to easily develop globally decentralized applications using and deploy them on the blockchain.

Hedera Hashgraph Testnet V0.11.0 Release Scheduled for January 21   

As recently announced by the Hedera team, the testnet upgrade to version v0.11.0 is scheduled to take place on January 21 at 18:00 UTC. The new version will feature updated versions (v5) of all file formats for record streams, record stream signatures, event streams, and event stream signatures. All interested community members, but especially HBAR holders, should follow the testnet upgrade status here and are advised to read through the upgrade release notes, when they become available.

TomoChain (TOMO)

TomoChain is an Ethereum codebase-based blockchain that supports all EVM-compatible smart-contracts, protocols, as well as atomic cross-chain token transfers. TomoChain utilizes a Proof of Stake Voting (POSV) consensus with 150 Masternode that grant very low fees and instant transactions while maintaining security at the same time. In the future, the team aims to introduce sharding, EVM parallelization, and generation of private chains.

Zorro Upgrade Release Estimated for January 22

The TomoChain team has announced that their Zorro mainnet upgrade is scheduled to take place at block number 30,915,660, which is estimated to be proposed sometime on January 22. For a more accurate estimation you should refer to the official countdown. The upgrade will bring improvements to the Ethereum Virtual Machine (EVM) and Solidity functionality, as well as the integration of TomoP mainnet code and an adjustment to the cancellation fees on TomoX based DEXs. The developers urge all TomoChain nodes and masternodes to upgrade their software to v2.3.0 by January 22. More information about the Zorro upgrade can be found in the project’s official blog post.