As the markets try to recover after a turbulent trading month, a crypto expert closely followed by the crypto community points out 2 altcoins.
Kava
Guy, host of Coin Bureau YouTube channel, to 2.05 million YouTube subscribers in a new strategy session, cross-chain decentralized finance (DeFi) lending protocol Kavawaiting for it to grow and KAVA‘s latest price drop was most likely due to the collapse of Terra (LUNA).
“When it comes to Kava, KAVA coin is targeting the Moon with the upcoming launch of its own mainnet upgrade, which will include support for the Ethereum Virtual Machine.
Kava has seen very volatile price action, and it’s worth noting that the recent drop was due to Terra’s boom. In context, all Cosmos-based cryptocurrencies seem to have taken a hit, but fortunately the price of Kava is still in a nice long-term uptrend.”
At the time of writing, Kava is up over 2% to trade at $2.79. Priced above $5 a month ago, KAVA later dropped to $1.54 on May 11 and has been on a steady recovery ever since.
KuCoin
The next cryptocurrency on Guy’s radar is, KuCoin native token of crypto exchange KCS. Popular analyst, new decentralized KuCoin Community Chain (KCC) it adds more weight to an already popular market.
“There is also the need to look at KuCoin’s KCS token, and it is a token that is inextricably linked with the actions of KuCoin’s cryptocurrency exchange as an exchange token.
To be fair, this seems to be changing as the KuCoin Community Chain is adopted, plus the long-term price action of the KCS token looks seriously impressive.
Again, this has to do with the growing popularity of the KuCoin cryptocurrency exchange.”
KuCoin Token is changing hands at $16.86 at the time of writing, up 2.3 percent per day in the last 24 hours and 16 percent in the last 7 days. KCS is up 77.66 percent from a recent all-time low of $9.49, which it reached on May 12.
Phantom
The Coin Bureau server is also a smart contract platform. to Phantom (FTM) He also took a look at it, telling the audience that developer Andre Cronje is optimistic about its Ethereum (ETH) competitor, despite leaving the project recently.
“As for Phantom, FTM coin is Fantom’s staked FTM and FUSD [Fantom USD] responds positively to the possibility of carrying out the proposed changes in its mechanics.
Like other tier-1s, FTM suffered a great loss of energy, especially after Andre Cronje announced that he would leave the project. I would like to point out that I still have FTM on hand as I believe the Phantom is more than a man, but keep in mind that this is just my opinion.”
Considered one of the most prolific developers in DeFi, Cronje announced that they were abruptly leaving Phantom in early March, along with lead developer Anton Nell. This surprising move caused a sharp drop in FTM that the token is still struggling to recover.
However, as reported by KoinFinans; Phantom native cryptocurrency of the blockchain FTMDeFi developer Andre Cronje had a pretty significant rebound on Saturday after it was discovered that he had been writing code on the chain.
Phantom is experiencing a massive recovery, up over 17% from the last 24 hours and is trading at 0.49 at the time of writing. FTM, which was worth $1.11 a month ago, only dropped to $0.25 on May 12.
The token’s rally, which has seen a 25% increase in the last 7 days, ignited Github data showing Cronje writing code for a Phantom stablecoin platform.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.