Three Altcoins to Explore | VR Led The Altcoin Rally Despite The BTC Tumble, What's The Next Crypto Gem On KuCoin?

2021/12/14 10:17:09

Last week saw LUNA, MATIC, and STX make up the top performers list as they recorded different levels of price increases. This was a week that saw Layer-2 projects, metaverse and NFTs in the limelight. As the new week opened, the trend does not look set to retrace just yet if it ever will.

The price volatility of last week’s crypto market saw most tokens dragged down in market price for a greater part of the week. Bitcoin ended the 7-days under review on a bearish note plunging down to $47,023 despite hitting the $51,934 mark at some point. The price drop for the leading cryptocurrency by market cap also rubbed off on other tokens with across-the-board price plummeting recorded.

Ethereum price also saw a drop, but somewhat held up above the $4,000 mark to end the week in what the market has seen as a dead cat bounce. At the time of filing this report, ETH already slipped below $4,000. Other cryptocurrencies that defied the downward pull to close the week in green territory included the likes of Victoria, NEAR Protocol, and Tezos, for different reasons. We have covered these exceptions in more detail below.

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Victoria VR (VR)

source: KuCoin Blog

The Victoria VR project focuses on blockchain gaming coupled with Virtual Reality that is driven by Realist Graphics that are created by users and owned by them. The platform makes itself an open sphere that all virtual realities can thrive on with decentralized applications that comprise the Metaverse. It essentially becomes a 3D internet that is lived and operated as a shared virtual existence with quests, games adventures, surreal galleries, and a marketplace for exchanging NFTs. The Victoria VR project already enjoyed the KuCoin 16th spotlight this week, it made the review once more as it was among the few cryptocurrencies that ended the week with price gains.

The price performance of VR could be anchored on the brewing interest in metaverse tokens that has surged in recent weeks in the crypto global market. Victoria VR has leaped from $0.3601 as of 9th December to $0.5233 to close the 7-day period, posting close to 60 % in market price appreciation. VR price leading the altcoin rally with uping 171x since listing on KuCoin.

Trade VR and 500+ other altcoins on Ku Coin

NEAR Protocol (NEAR)

source: wiki.tino.org/

NEAR Protocol has got a recurring mention here on the KuCoin weekly briefing of late as it has shone brighter than its peers in price performance. NEAR Protocol operates as a community-driven project in cloud computing that defies the drawbacks of similar projects by way of low transaction processing speed, interconnectivity, poor throughput and low DApps onboarding. It has attracted several developers so far as a user-friendly layer-one blockchain.

Check out the top DeFi projects on NEAR Protocol.

The ambitious NEAR Collective has worked hard so far to update its roll-out code and made on-chain updates in order to securely manage high value assets that everyday people can appreciate. The price threshold for the project in the last 7-days recorded a high of $11.78 and a low of $6.65. For the week, the token surged by 42 % on the average to be among the top performing crypto to be sought by investors.

Trade NEAR and 500+ other altcoins on Ku Coin

Tezos (XTZ)

source: securities.io

Tezos emerged largely in the shadows of Ethereum as a smart contract driven project with an agile angle that makes it open to continuous improvement without altering the consensus of the blockchain. Holders of XTZ are able to vote for protocol upgrade proposals that are introduced by developers on the platform. By working with a futureproof design, the risk of obsolescence is obviated so that the project can enjoy high ratings and relevance well into the future.

With the report breaking during the week that Ubisoft, a gaming giant entered into an agreement with Tezos to introduce an NFT-acquisition platform, the price of XTZ soared by 50 %. The bandwagon effect of metaverse and NFTs finally caught up with Tezos, and the result was the price leap. At a new high of $6.16, the price of XTZ was able to catch the eyes of market watchers, as the Ubisoft deal meant more patronage of XTZ and more usage of its blockchain. The developments certainly look set to add more value to XTZ in the coming days.

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Conclusion

The dynamism of the crypto market has shone more and more in recent weeks with the surge in DeFi projects and related trade volumes. In addition, the metaverse outlook as the future of the world has generated enough buzz and substance to keep leading players in the limelight. Analysts agree that with new agreements and use cases coming to blockchain projects, the impact of the real -life application of new apps and platforms will be resounding.

While the fortune of Bitcoin looks volatile, the market price of tokens that underlie dynamic projects in DeFi, NFTs, and the metaverse will continue to soar and ultimately, BTC’s share of the entire market cap will drop even further. The crypto market looks set to mature so that individual projects are valued based on their deliverables instead of relying on the performance of Bitcoin and Ethereum. This is what happens in a deepened market with its constituent parts holding out for itself based on its valuation and market appeal.