Last week was a great one for the crypto market. Most tokens managed to rise higher, gaining on average around 8%. However, prices seem to be adjusting as Bitcoin dips again to edge closer to the psychological price of $20,000. On the other hand, other tokens seem to be soaring even higher in the past 24 hours of this adjustment. In this crypto analysis article, we look at the top 3 gainers of the past 24 hours. Will they continue to rise till the end of this week?
#3 Crypto Analysis: Flow (FLOW) +16%
Flow was created with excellent scalability without the need for sharding methods. With this, users on the blockchain may complete transactions quickly and cheaply. The blockchain was created explicitly for decentralized apps (dApps) that require very high scalability, like NFT platforms. it has been also used in crypto play-to-win games as well, giving players a quick gaming experience.
The blockchain was built by Dapper Labs in response to several problems with Ethereum’s congestion. The NBA Top Shot, a game that its parent firm developed, is one of many crypto games that are currently hosted on the blockchain. Due to its great scalability and quick speed, the blockchain is also accessible to developers who want to build dApps.
#2 Crypto Analysis: Fantom (FTM) + 19%
Fantom is a scalable and safe smart contract platform. It has been predicted that it will be another game-changer in the decentralized financial industry. The specifications state that Fantom was created to overcome several constraints that have previously decreased the performance of blockchain platforms.
Lachesis is a tool that Fantom utilizes to do its business. With its Asynchronous Byzantine Fault Tolerance (aBFT) consensus, the Lachesis is seen as the game-changer since it makes Fantom transactions cheaper and quicker than with traditional blockchains. Fantom’s three final products are scalability, security, and speed. Holders of the Fantom token have the opportunity to stake their tokens on the network and get enormous profits.
#1 Crypto Analysis: Arweave (AR) + 50%
Arweave is a decentralized storage network. It aims to provide a platform for the long-term archival of data. The network primarily hosts “the permaweb,” a permanent, decentralized web with a number of community-driven applications and platforms. It describes itself as “a collaboratively owned hard drive that never forgets.”
The Arweave network pays “miners” to keep the network’s data permanently stored using its own cryptocurrency, called AR. Initially introduced as Archain in August 2017, the project subsequently changed its name to Arweave in February 2018, and it was formally launched in June 2018.
Despite the adjusting crypto market, there are always opportunities in the crypto market. The above cryptos soared as high as 50% in the midst of the crypto adjustment. However, this is not to say that you should go and buy them without doing a proper analysis. When cryptos prices jump high, they tend to adjust strongly afterwards. Do your own analysis, stay updated with the market and always manage your risk.
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