3 Altcoins To Keep Tabs On — UNO, KSM, CRV | KuCoin Weekly Review Issue #24

2021/06/08 09:57:49

After the events of the last couple of weeks, it is nice to see some green again in the market. While small improvements are welcome in times like these, we should still remember the bigger picture and how far the market has come since its humble beginnings.

For Bitcoin, not too much has changed since the previous week. It is still holding in the mid to high $30,000s, but perhaps that will change for the better going forward. ETH has been on the up as of late, ending the week over 13% higher than where it started it.

The KuCoin Token has enjoyed a bit of a surge this week, seeing a high of $9.88 on Thursday. This was in response to the announcement of KuCoin Win and its first game, LuckyRaffling. As part of the KCS ecosystem, the interest in this new use case helped stir interest in the token.

Then we have the altcoins. As always, we have chosen 3 examples that are well worth your attention: UNO, KSM, and CRV.

UnoRe (UNO)

UnoRe aims to become the world’s first multi-chain insurance risk trading exchange. It is focused on removing barriers to entry to enable average users to trade in previously inaccessible and highly profitable risk-based assets. The UNO token acts as an incentive for users to use the Uno Re platform and act as a part of the ecosystem.

UnoRe has been enjoying growth as of late. One of the main reasons for this was its listing on KuCoin just this week. In addition to the listing, there are also a couple of competitions taking place on the exchange, with one giving away a prize pool of $45,000 for trading the token - a sure way to grab the attention of new users. As always, listing on a new exchange expands the reach of a project and gets its tokens into the hands of more people. This is likely a big reason why UNO achieved a 273% 7-day ROI, and a 24 hour trading volume of $5,478,976.

Trade UNO and 300+ other altcoins on KuCoin.

Kusama (KSM)

Kusama is dubbed the ‘Canary Network for Polkadot’, being created by the same team behind Polkadot. As a scalable network of specialized blockchains, it was made to be used as an experimental blockchain for development and testing - a sort of staging ground for Polkadot-based developments. This has led to it becoming a hotbed for innovation not just within the Polkadot ecosystem, but the wider crypto market. The KSM token can be staked to either become a validator or nominator for the Kusama relay chain.

KSM makes the list once again due to the upcoming excitement for the Polkadot parachain slot auction. It is no secret that many people have been stocking up on the token ready for the auction to go live. However, with the crowd loan stage seemingly imminent, there may have been a bit of a rush to get some KSM last minute, driving up the price. Also, just recently, KuCoin announced its support for the auction, meaning people can participate using their tokens straight from the exchange. This is why KSM achieved a 40.7% 7-day ROI, and a 24 hour trading volume of $240,457,995.

Trade KSM and 300+ other altcoins on KuCoin.

CurveDAO (CRV)

Curve is a liquidity aggregation agreement. In other words, it is a decentralized exchange liquidity pool on Ethereum designed for extremely efficient stablecoin trading. Curve can provide a platform where users can easily exchange some Ethereum-based assets. The CRV token is used as a governance medium, incentive structure and fee payment method.

Why is CRV doing so well this week? Probably because the project is going strong. Just recently, someone pointed out how Curve now has the second-largest amount of stablecoins in an exchange, with Binance taking the top spot. Then, it was decided that CRV would be coming to Polygon, thanks to a recent vote. Otherwise, one can only guess that the recent turmoil in the market led people to seek stability in stablecoins, and found Curve as a trustworthy platform for that. CRV achieved a 50.4% 7-day ROI, and a 24 hour trading volume of $274,928,831.