Hello HODLers!
Here comes our update on the top-5 performing crypto of the last week. The goal of this post is to compare the returns of the top-100 crypto projects by market capitalization on Coinmarketcap and introduce you the 5 coins that have recorded the largest price increase during the last week.
1. The Graph (GRT): $2.19 (+166.04%)
The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data. There is a hosted service in production that makes it easy for developers to get started building on The Graph and the decentralized network will be launching later this year. The Graph currently supports indexing data from Ethereum, IPFS and POA, with more networks coming soon. To date, over 3,000 subgraphs have been deployed by thousands of developers, for DApps like Uniswap, Synthetix, Aragon, AAVE, Gnosis, Balancer, Livepeer, DAOstack, Decentraland and many others. The Graph usage has been growing at over 50% MoM and hit over 7 billion queries during the month of September 2020. The Graph has a global community, including over 200 Indexer Nodes in the testnet and more than 2,000 Curators in the Curator Program as of October 2020. To fund network development, The Graph raised funds from community members, strategic VCs and influential individuals in the blockchain community including Coinbase Ventures, DCG, Framework, ParaFi Capital, CoinFund, DTC, Multicoin, Reciprocal Ventures, SPC, Tally Capital and others. The Graph Foundation also successfully completed a public GRT Sale with participation from 99 countries (not including the U.S.). To date as of November 2020, The Graph has raised ~$25M.
Source: https://coinmarketcap.com/it/currencies/the-graph/
Official Website: https://thegraph.com/
2. BitTorrent (BTT): $0.001207 (+152.92%)
BitTorrent is a popular peer-to-peer (P2P) file sharing and torrent platform which has become increasingly decentralized in recent years. Originally released in July 2001, BitTorrent was purchased by blockchain platform TRON in July 2018. Since its acquisition, BitTorrent has added various new tools, with a dedicated native cryptocurrency token, BTT, released in February 2019. BTT was launched on TRON’s own blockchain, using its TRC-10 standard. According to its official literature, BitTorrent is currently the “largest decentralized P2P communications protocol” in the world.
Official Website: https://www.bittorrent.com/token/btt/
3. Lisk (LSK): $3.68 (+142.43%)
Lisk is a blockchain application platform aiming to create an accessible future where everyone can benefit from decentralized technology. Lisk enables developers to build applications as well as deploy a side-chain linked to the Lisk network that includes a custom token. Lisk empowers developers with a software development kit for blockchain applications and is working on an interoperability solution that will in turn let everyone seamlessly use it on the platform. Lisk’s ICO launched on May 24, 2016 and was built through JavaScript and TypeScript. Its main products are Core, SDK, Desktop and Mobile. With a team size of 30, it has a development contractor known as Lightcurve GmbH. The company is based in Zug, Switzerland and it is a non-profit foundation.
Source: https://coinmarketcap.com/currencies/lisk/
Official Website: https://lisk.io/https://icon.foundation/?lang=en
4. Avalanche (AVAX): $42.43 (+123.40%)
Avalanche is an umbrella platform for launching decentralized finance (DeFi) applications, financial assets, trading and other services. It aims to be something of a global assets exchange, allowing anyone to launch or trade any form of asset and control it in a decentralized manner using smart contracts and other cutting-edge technologies. Developers at Ava Labs claim that Avalanche is the first smart contracts network to offer transaction finalization in under one second as standard. Avalanche launched its mainnet in September 2020. The platform’s native token, AVAX, performs various tasks within Avalanche and also functions as a rewards and payment system for users.
Source: https://coinmarketcap.com/currencies/avalanche/
Official Website: https://www.avalabs.org/
5. Polygon (MATIC): $0.1113 (+123.07%)
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness. The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance. Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains. Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts. Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem. Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain. The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains. So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain. MATIC, the native tokens of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens.
Source: https://coinmarketcap.com/currencies/polygon/
Official Website: https://polygon.technology/
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