Today marks a very important day for the smart-contracts community. Ethereum, the second-largest cryptocurrency by market capitalization, broke today the important price of USD 4,000. This is big news not only for the Ethereum community but also for all the projects that are linked to the Ethereum blockchain in one way or another. In this article, we’re going to mention 3 important projects that are highly affected by Ethereum, especially that their core offerings come hand in hand. Which projects increase in prices when Ethereum does?
3- Polkadot (DOT)
This project is one of the many that specializes in scaling. When we say scaling, it means removing borders and constraints when using different blockchains. An Ethereum co-founder brought Polkadot to life. It aims to bridge the divide between blockchains. It basically seeks to incentivize a global network of computers to operate a blockchain on top of which users can launch and operate their own blockchains. Consequently, next-generation blockchain connects multiple specialized blockchains into one unified network.
DOT is on an uptrend with no hiccups other than periodically price breathers:
- Current Price: USD 39
- Market Capitalization: USD 37 Billion
- YTD performance: 372 %
- Market rank: #8
2- Cardano (ADA)
If the smart-contract sphere strives, Cardano will strive as well! Another Ethereum co-founder founded this project. Contrary to Polkadot, Cardano is a smart-contract blockchain that already has its mainnet, codenamed ‘Shelley’. The latter started operating last summer as part of their promised project releases.
ADA technicals also signal strong upcoming uptrend, and this was also discussed in this article.
- Current price: USD 1.74
- Market Capitalization: USD 55.7 Billion
- YTD performance: 890 %
- Market rank: #6
1- Polygon (MATIC)
This is our favorite. Polygon’s aim is closer to Polkadot, and aims also to scale Ethereum. It was one of the first to provide a nice platform for projects to easily integrate into the Ethereum blockchain, and utilize its smart-contracts feature. That’s why today, this opens up the way for smaller projects to utilize a decentralized smart-contract ecosystem. The more people are interested in Ethereum, the more people will need projects such as Polygon, that helps them plug into the Ethereum ecosystem.
MATIC’s price shot through the roof recently, and it is still an undervalued project that has room to grow:
- Current price: USD 0.95
- Market Capitalization: USD 4.9 Billion
- YTD performance: 5,488 %
- Market rank: #38
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