While the overall cryptocurrency market has had a tumultuous week, an altcoin under the spotlight is massively challenging the downtrend. Despite the crypto market correction, the altcoin is up 34% this week. Decentralized reserve currency protocol Olympus (OHM) is up 34% over the past seven days. On the other hand, Terra Virtua, one of the popular NFT Blockchain projects, announced on its website that it has agreed with the Indian Super League. Its price jumped 45%. For details cryptocoin.comfollow .
2 Altcoins challenged
A possible catalyst for the price increase is the recent announcement of a new product called Olympus Pro. While the team behind the project discusses the hurdles the blockchain industry has traditionally faced in finding financing and its environmental impact, they explain:
Bonds are a mechanism by which the protocol itself can buy and sell its native token in exchange for assets. It buys liquidity directly rather than renting it from third parties. Once the bond is created, the protocol owns these assets and distributes new supply like liquidity mining.
Olympus claims to have raised over $150 million in assets since launching its bond program six months ago. The new Olympus Pro X bond market aims to reduce emissions while helping all players in the decentralized finance (DeFi) space.
According to the company’s community manager WartuII, “OlympusDAO 7-day protocol revenue exceeded the combined revenue of OpenSea, dYdX, and PancakeSwap.” According to CoinGecko, OHM was valued at $625.86 at the time of writing, up 34% from $465.77 a week ago. Olympus has also caught the attention of high-profile investor Mark Cuban. Over the summer, Cuban has invested in Olympus and has 338 staked tokens (SOHM) worth $214,327 as of today, according to portfolio tracker Zerion.
Terra Virtua (TVK) signs with Indian Super League
Terra Virtua, one of the famous NFT Blockchain projects, announced to the public that it agreed with the Indian Super League. The league, also known as ISL, has India’s most famous football teams. With this development, an increase of 45% was observed in TVK prices. With this development, famous football clubs in India will have issued their first NFTs.
The Indian Football League has been around since 2014, and key moments since then are also planned to be NFTed. 11 football clubs within the league will be in this project. These NFTs will include: player cards, special in-game moments, and a limited number of interactive memorabilia. According to Gary Bracey, CEO of Terra Virtua, with this project, fans will be able to strengthen their bond with their favorite football club.
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