Hello HODLers!

Here comes our update on the top-5 performing crypto of the last 24 hours. 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 past 24 hours.

1. Ravencoin (RVN): ($0.2340)  (+111.81%)

Ravencoin (RVN) is an open-source blockchain project that specializes in the creation and peer-to-peer transfer of assets. Ravencoin enables users to create and trade any real-world (e.g. commodities) or digital (e.g. virtual goods) assets on a network. The core developers launched Ravencoin on 3 Jan 2018. The project has some prominent backers: Bruce Fenton, Board Member of The Bitcoin Foundation, advises the team while Overstock has made a multi-million dollar investment into the project.

Source: https://coinmarketcap.com/currencies/ravencoin/

Official Website: https://ravencoin.org/

2. Polygon (MATIC): $0.1882  (+54.33%)

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/

3. DODO (DODO): $7.70  (+50.53%)

DODO is a Chinese decentralized finance (DeFi) protocol and on-chain liquidity provider whose unique proactive market maker (PMM) algorithm aims to offer better liquidity and price stability than automated market makers (AMM). The PMM pricing mechanism, which mimics human trading, utilizes oracles to gather highly accurate market prices for assets. It then provides enough liquidity close to these prices in order to stabilize the portfolios of liquidity providers (LP), lower price slippage and negate impermanent loss by allowing arbitrage trading as reward. DODO also caters for new crypto projects with a free ICO listing through its Initial DODO Offering (IDO) which requires issuers to only deposit their own tokens. DODO’s smart contract operates as an ERC20 token on the Ethereum network.

Source: https://coinmarketcap.com/currencies/dodo/

Official Website: https://dodoex.io/

4. Theta Fuel (TFUEL): $0.09444  (+37.44%)

Theta Fuel (TFUEL) is the native token on the Theta blockchain. TFUEL should not be mistaken for Theta Tokens (THETA), which are the governance tokens of the Theta blockchain. The main use of the TFUEL lies in the Theta ecosystem. TFUEL is the second token on the Theta blockchain and acts as a gas token. This means that it is used to power operations on the Theta blockchain, like payments to relayers for sharing a video stream, for deploying and interacting with smart contracts. In addition, it is also used to incentivize users in the ecosystem who share their redundant computing power as well as bandwidth resources as caching or relay nodes for video streams.

Source: https://coinmarketcap.com/currencies/theta-fuel/

Official Website: https://www.thetatoken.org/

5. Huobi Token (HT): $23.36  (+24.13%)

Huobi Token (HT) is an exchange based token and native currency of the Huobi crypto exchange. The HT can be used to purchase monthly VIP status plans for transaction fee discounts, vote on exchange decisions, gain early access to special Huobi events, receive crypto rewards from seasonal buybacks and trade with other cryptocurrencies listed on the Huobi exchange.

Source: https://coinmarketcap.com/currencies/huobi-token/

Official Website: https://www.huobi.com/

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