Last week's biggest gainers on Stormgain
Last week saw se massive bearish movement on the cryptocurrency markets with bitcoin dropping all the way to 42000 USD . The market had some awesome gains with Eth rising past 4000 USD and BCH spring to 1300 USD , Xrp was not standing still rising and dropping from $1.20 to $1.70 currently it's around the $1.56 level. BTC has been trying since Monday to crawl out of the rabbit hole it was chucked in by the whole Elon Musk Vs Crypto Twitter battlefield. The currency seems dead set on climbing up to the 50000 - 60000 USD range but it keeps getting knocked back down after every gain it seems to be able muster . The success of last week though it was overshadowed by the whole BTC fiasco. The gains are still worth noting and why I've decided to give some background on these coins. To make the decision and invest in these platforms or coins would be a decision that cannot be guaranteed. I would like to make sure you understand that nothing I say is trading advice , I am not a financial advisor and nothing in this article should be used as strategy for success
BACK TO THE FUTURE
Back to the stars of the week. These coins performance from the 20/05/2021 - 16/05/2021 have been astonishing
1 MATICUSDT +88,06% 2 ADAUSDT +32,45% 3 AAVEUSDT
+26,47%
These platforms all have real life issues they are solving in blockchain technology bridging the gap and contributing to the growing success and mass adoption of Crypto globalization.
ADA CARDANO
Cardano blockchain platform is a public blockchain platform. It is an open source and decentralised platform . It's consensus is achieved by using proof of stake . It can facilitate peer-to-peer transactions with its internal coin ADA . Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson.
Initial release date: 2015
Stable release: 1.25.1/29 Jan 2021
Original author : Charles Hoskinson
Developers : Cardano foundation , IOHK, IMURGO
WRITTEN: Haskell
License: Apache license
Cardano will allow writing of smart contracts and take care of its execution. It gives additional power to the transaction system. People can exchange money for stocks and Cardano can execute the trans actions while keeping record of the money and the ownership of the stocks in the blockchain.
Cardano is a key figure in the crypto market and its stats are as follows.
Cardano price : $1.35
Trading volume/market cap $ 3312023595.91
Volume market cap: 0.0766 8.09%
Market dominance 1.99%
Market rank #6
Aave SAGL Headquarters
Founded 2017 London UK
AAVE is a decentralised finance protocol that allows people to lend and borrow cryptocurrency. Lenders earn interest by depositimg digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this created liquidity.
Wallet investors.com believes that AAVE is a perfect investment for the long term estimating that the coin will reach $1327.24 a coin by end of Dec 2021. AAVE forecast that they will be priced more at a level of $3766 per coin by Dec 2021 and around $44000.00 a coin in the next 5 years . This is Yet to be seen and is optimistic to say the least but the blockchain technology has real benefit and a coin to keep an eye on in the years to come. Keeping a bag of ADA would not be a bad idea .
POLYGON (MATIC) NETWORK
Polygon matic in an Ethereum token that powers the polygon network l, a multichain scaling salution for Ethereum, aimed at making transactions fees on Ethereum cheaper and faster . Users can deposit a Ethereum token to a polygon smart contract , interact with the tokens within the polygon sidechain , and then later withdraw the tokens back to the Ethereum mainchain, if the need arises .
Polygon (matic) rebranded from the. Matic network to its current name in February 2021 .
Polygon is Ethereums internet of block chains. Polygon is a protocol and a framework for building and connecting Ethereum compatible blockchain networks. Aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.
Polygon combines the best of Ethereum with sovereign blockchains into a full-fledged multi - chain system
Polygon solves pain point associated with blockchains like high gas fees and slow speeds, with out sacrificing on security. This multi-chain system is akin with other platforms such as Polkadot, cosmos and avalanche to name a few. Polygon has at least 3 major upsides to the others like itself
1)It is able to fully benefit from Ethereums network effects .
2) it is inherently more secure .
3) it is open and it is powerful.
Polygon is an exciting concept with real solutions to real issues around blockchain inter operability.
These tokens and coins have real underestimated value and are a key factor in the ability for the crypto market to be fully adopted by all walks of life .
Well from my side that's all for today will be back tomorrow with some more insights on blockchain technology and the platforms that brings them to life .
Till next time this is derbycuzxrp
Tooooooooo the moooooooonnnnn laaaammmmmbbbbbooooo
