Three Altcoins To Explore | The Latest Altcoin Trend With The Price rally of ROSE, NEAR & FTM

2022/01/18 10:03:33

Bitcoin had been on a market price losing streak this year that saw many analysts express fears that it was perhaps headed for the low of $28,800 of January 2021. BTC, however, recorded a mild bounce this past week after a trail of losses that imposed a bandwagon effect on a greater percentage of cryptocurrencies. The turn in fortunes for the leading cryptocurrency was partly attributed to the soaring inflation in America, which peaked at a 39-year high. As expected, many people bought into BTC as the inflation news broke, giving the market leader some breather from price losses.

Ethereum also saw a rebound with its weekly performance going past the 5% mark in price surge. While Bitcoin might have played a role in Ethereum shedding its value, perhaps the delay in actual proof of stake consensus take-off for the Number 2 crypto could also be a point of weakness. Ditto for the uncertainty on how the SEC and Ripple court battle will end. Somehow, many fear that the dragging case is also dampening the crypto market.

In the previous week, ClearDAO, ICP and Chainlink emerged as the altcoin leaders in price rise. In the new week, the trio of Oasis Network, Near and Fantom have emerged as the market leaders by price performance for a different set of reasons that will be examined below.

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Oasis Network (ROSE)

source: gamerevolution

ROSE has recorded a 7-day low of $0.3612 as against a high of $0.5964 to emerge as the top-performing crypto for the week. The price surge for the 7 days to this past weekend was enough to make it record an ATH on Saturday, 15th January 2022 at $0.5964. ROSE opening and closing prices for the week under review show that the price rise was by over 50%.

Oasis Network is a layer-1 ecosystem that was developed with the innovative Cosmos SDK, which is reputed for a wholesome data economy as well as open finance architecture. The liaison with Cosmos positions Oasis Network to benefit from the Cosmos blockchain at the launch of its inter-blockchain protocol for communication. Oasis optimizes its transaction processing and scalability with its separation of consensus mechanism from the contract processing and settlement layer.

The project has shown a commitment to DeFi with its plans to launch a DEX, an EVM-compatible framework called paraTime as well as its readiness to readily onboard DApps that meet the mark. Low gas fees, high scalability and seamless token monetization are some of the project’s hallmarks.

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NEAR Protocol (NEAR)

source: wiki.tino

NEAR in the trading results of last week saw a low of $13.57 and a high of $20.42 to claim a spot among the top three best-performing altcoins for the period. While NEAR has had a recurring mention here on the weekly briefing, its underlying performance in price appreciation makes it stand out. Its opening price was at $13.57 for the week and closing above the $20 mark gave it about a 45% surge in market price appreciation.

NEAR Protocol is a community-driven ecosystem that prioritizes cloud computing to defy the poor performance of peer projects with low transaction processing speed. The triple downside of poor throughput, poor uptake of DApps and poor transaction processing speed are avoided by this ecosystem. NEAR has gained a remarkable reputation as an efficient layer-one blockchain.

Learn more about the best DeFi platforms on NEAR Protocol.

The heights of attainment that the NEAR Collective have set to achieve has led to regular on-chain optimization and roll-out code enrichment that has drawn plaudits from a greater percentage of the global blockchain community. The platform has shown that it can secure its high-value assets with its safeguards and operating algorithm.

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Fantom (FTM)

source: phemex

Fantom closed the week at $3.24 from an opening at $2.23, which is just above 40% in price-level change. The low for FTM for the week was $2.20 and the high was $3.31, which effectively gives it the bragging right as the second-best performing altcoin for the week on the KuCoin platform. FTM has made it to the spotlight a few times in recent weeks and the wind of DeFi is a huge plus for its sail.

Only recently, the Singapore-based Hyper Chain Capital reported a $15 million investment on the project to enable its consolidation plans to get the right funding it desires. Fantom developed its DAG smart contract framework that supports the work of developers on several fronts while providing optimal transaction processing times that Ethereum is yet to attain. Transactions are processed within 2 seconds on the platform, and its 2019 launch of its mainnet has given the ecosystem an added boost.

As the focus of developers in this DeFi threshold is on interoperability and cross-chain optimization, the fast transaction processing time that Fantom offers places it in good stead for greater adoption and mainstream use.

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What is EOS

In May 2017, Dan Larimer announced the EOS project at the Consensus conference. At the time of the announcement, the creator already had two successful cryptocurrency platforms under his belt: the BitShares exchange, launched in 2014, and the social network Steemit, which has operated since 2016 and has its own cryptocurrency in use, designed to reward user activity. Both developed projects have impressive transaction speeds within the system and a good reputation, which has a positive effect on the reputation of the new project as well.

According to Dan, both previous projects helped him gain knowledge and determination to tackle a more complex blockchain project, namely the creation of software with which developers can quickly launch complex decentralised projects, applications, social networks and exchanges.

The transaction speed of the system should be 1000-6000 transactions per second, and in the future it is planned to improve the transaction speed to a million transactions per second. In addition, there are plans to eliminate fees altogether.

EOS is owned by Block.one, a company registered in the Cayman Islands. The development team consists of fifty people.

EOS cryptocurrency is currently not traded by the company and is not mined. The final distribution of EOS tokens ended on 1 June 2018. Until that day, tokens could not be obtained in the traditional way through mining.

Conclusion

It is safe to expect these leading altcoins to be up here again in a matter of days or weeks as their potential valuation surges in response to market realities. With more sights set on platforms that focus on the greater good and open-source mantra, altcoins in the metaverse, DeFi and DApps development are likely to remain in the winning team. Look out for the projects that make the KuCoin spotlight along with the crypto gems so that you can gather all the insights needed on where the action is in the crypto market.