Audius (AUDIO) and Coti are gaining impressive speed due to trade deals and more, while The Sandbox (SAND) is rising due to interest among crypto assets. Here are the altcoin projects favored by smart money lately…
SAND and these coins are in the focus of smart money
Audius (AUDIO) gained 55.59 percent last week. Audius is a dApp based on the POA network that serves as a music streaming platform and is now available in Solana. The project was created to address the issues of the music industry grappling with its stalemate over copyrights, transparency, and profit-making intermediaries between artists and audiences. After artists create content for free on Audius, their tracks are streamed at 320 kbps, just like on Spotify and Google Play Music.
Music stored and distributed can be uploaded by genre and discovery nodes, then viewers can enjoy everything for free. Musicians will be able to win various prizes by appearing on weekly trending lists. More stablecoins for artists are soon to be integrated to give artists a chance to make money. Founded in 2018 by Roneil Rumburg and Forrest Browning in California, the company signed a deal with TikTok this week that doubled its value.
The news of the deal with social media company TikTok lit the company up very well and investors bought AUDIO with full force. The price even rose as high as $0.30 and doubled the value of the token in a single day. Thanks to the agreement signed with the platform, which is popular for the Z generation, through Audius, artists will be able to share their works and give users the opportunity to use them for their own content.
COTI is the native token of “a DAG protocol optimized for building decentralized payment networks and stablecoins.” Thanks to Trustchain, the token can process more than 100,000 online or offline payments, loyalty, stablecoins or more per second. Coti is on the Ethereum Blockchain. The coin experienced a spike of 35.12 percent last week. According to experts, Coti owes his success to a new generation of programmers who are increasingly choosing him to bring their projects to life in the crypto world.
The Sandbox (SAND)
SAND is the Ethereum-based token of The Sandbox, the most popular metaverse in the crypto world. The Sandbox is a multiplayer metaverse where we can build our fantasy world, buy land, build houses, open stores, earn money by selling goods or services and enjoy Blockchain based gaming experience to socialize with other people. Online game creators can create new three-dimensional NFTs from scratch.
SAND acts as an in-platform currency for purchasing NFTs, and not only that, it also gives an opportunity to vote by actively participating in the company’s lead. The Sandbox has signed deals with numerous well-known brands and internationally renowned individuals to expand as a user base. International finance names such as Gucci, Adidas or HSBC or mainstream/entrepreneur figures such as Paris Hilton and Snoop Dogg are just a few of the prominent names in Sandbox. Playboy recently opened its own office on the metaverse and throws a mega party every November.
Cronos is the native token of its own open source decentralized chain. With great energy efficiency, fast transactions and low costs, Blockchain is functional for programming in Web3, GameFi and DeFi in general. Cronos supports EVM (Ethereum Virtual Machine) and Cosmos and provides cross-chain touchpoints. Crypto.com suffered a bit from the downturn in 2022, but entered 2023 with a good performance.
Meanwhile, the company launched an update (v1.0) last week that is already available on Blockchain but has been in beta since 2021. The update is called Galileo and allows DApp and DeFi development with Solidity. Also compatible with EVM. Being able to switch to many chains, from Cosmos to Ethereum, allows new capital to come into the Cronos Chain. The update optimizes Mempool to improve TPS scalability, reducing node storage by 30 percent and responsiveness by 50 percent. It also improves the smooth transition between Cosmos and EVM with the corresponding IBC incentive.
cryptocoin.com As we reported, Solana, created by Anatoly Yakovenko and Greg Fitzgerald (formerly Qualcomm), provides decentralized finance (DeFi) solutions and is open source. The chain has been in the planning stages since 2017, but was able to hit the market in March 2020. The Solana project promotes the creation of dApps and aims to improve scalability mainly through Proof of History (PoH). Along with Proof-of-Stake, Proof of History allows less waiting for transaction verification and smart contracts.
The speed of transactions and the robustness of the project have made Solana the most attractive cross-chain project, and even institutional players have entered with capital. Solana (SOL) continues its positive trend this 2023. The altcoin, which was heavily affected by the FTX crisis last year, is thought to aim for $29 support.
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