Welcome to “Top 5 Cryptocurrency Movers” where I look at all the major crypto coins on the market and choose the five that made the biggest move (either positive or negative) on this day, explaining my thoughts why the move happened, as well as the historical significance of the particular crypto. Here are my top five cryptocurrency movers for December 28, 2020:
#5: Terra (LUNA) ($0.6267, +12.86%)
The Terra blockchain and their ecosystem token Luna rose by 12% on continued positive news of stablecoin growth. Launched in 2019, Terra is a blockchain protocol that uses stablecoins (such as Tether) to power the next generation payment network on the blockchain, and the LUNA token represents mining power in the Terra network.
#4: Polkadot (DOT) ($6.12, +16.96%)
Polkadot is nearing its all-time high price range of $6.80, after Binance, one of the world’s largest cryptocurrency exchanges, announced a $10 million development fund to support Polkadot-based projects and replaced Ethereum with Polkadot on their home page. DOT is already the seventh largest cryptocurrency, despite being on the market for only four months, and is characterized as a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network.
#3: Kusama (KSM) ($56.88, +15.24%)
One cryptocurrency that is gaining on the positive Polkadot news is Kusama. While Kusama and Polkadot are separate and independent companies, KSM was actually released as an early version of the same code to be used in Polkadot as a multichain, heterogeneously-sharded design based on proof of stake, but the main difference of the two is that Kusama is wild and fast, good for bold experimentation and early stages, while DOT is more conservative, with priority for stability and dependability.
#2: OKB (OKB) ($7.47, +14.26%)
OKB, which is the global utility token for the second most popular crypto exchange in terms of trading volume, OKEx cryptocurrency exchange, rose on news that their token teamed up with crypto payments service NOWPayments, which means that users of the exchange will have access to a business service that accepts instant online payments in 50+ cryptocurrencies, including automatic coin conversion.
#1: REN (REN) ($0.3550, +29.32%)
On a day that saw most cryptocurrencies positive, REN was the biggest gainer percentage-wise by a good margin. REN, which is run on the Ethereum network, is a decentralized open protocol that allows users to transfer cryptocurrencies between blockchains. It basically allows Ethereum users to access inter-blockchain liquidity with Bitcoin (BTC), Bitcoin Cash (BCH), and Zcash (ZEC).
Note that these prices are as of 2:00 PM EST/11:00 AM PST on the given day, and might not reflect the current price of the coin at the time of viewing this post.
Starting January 1, 2021, the timing of these daily posts will change to 9:00 PM EST/6:00 PM PST to better reflect the crypto market trading day.
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