The bull run is knocking on the door and November is hosting an uptrend in crypto. November is historically one of the best months for crypto. Combine this with the early stages of a bull run. This combination sparked some altcoins. Crypto expert Camille Lemmens takes a closer look at the top 3 altcoin projects in the top 100 by market cap.
First bullish altcoin: Celestia (TIA)
cryptokoin.comAs you follow from , Celestia is the undisputed leader of the week of November 2. TIA token increased by 155.6% in this time frame. Celestia is a modular Blockchain. It also boasts of being the first data availability Blockchain in the world.
Modular Blockchains only handle certain tasks. They delegate all other tasks to separate layers. For example, Celestia has a consensus, consensus, and enforcement layer. Blockchain has a home at Cosmos Hub. So, it is part of IBC and one of the Cosmos Hub areas. Among the 69 current regions, it ranks 6th as measured by IBC volume. In other big news, they launched their mainnet on October 31st. However, the altcoin project also released an airdrop consisting of 141 million TIA tokens. These are the only tokens currently in circulation. All other tokens have a vesting schedule. The first unlock will be in November next year.
The current TIA price is $6.17. It increased by 12.2% in the last 24 hours during the summer. However, it has increased by 157.4% and 169.6% in the last 7 and 14 days respectively. Its market value is $839 million. The total supply is 1 billion TIA tokens, with 141 million in circulation.
THORChain (RUNE) comes in second place
THORChain ranks 2nd on this week’s altcoin list. It has grown by 62.9% in the last seven days. That’s impressive, but not even half of TIA’s growth over the same period. Still, it’s a great rise.
Like Celestia and dYdX in third place, its home is the Cosmos Hub. A DEX with several unique features. For example, it allows cross-chain swaps. However, it does not perform wrapped operation. It swaps local assets. This is because it has positioned the native RUNE token in all its pools. Therefore, this allows it to work on various Blockchains. For example, it is the only protocol that offers APY for BTC in a decentralized manner. Meanwhile, the altcoin project has an ever-expanding ecosystem with various products. For example, wallets, exchanges, explorers, NFTs, analytical tools and more.
The current RUNE price is $5.81. Its market value is at $1.7 billion. The maximum and total supply is 500 million RUNE tokens. 300 million of these are currently in circulation. But look at this, the percentage increase in 7, 14 and 30 days is 73.1%, 95% and 237.3% respectively. The price increase in one year is a staggering 374.7%.
Latest bullish altcoin: dYdX (DYDX)
dYdX placed third, passing THORChain by a nose. With an increase of 62.6, it is only 0.3% less than THORChain. Once again, all three altcoins are based on Cosmos Hub. It completed the migration from Ethereum to Cosmos just a few weeks ago. One of those projects with sufficiently slow and expensive processes. They looked for alternatives and chose Cosmos Hub.
Currently, the Blockchain is in full migration mode for the DYDX token. For this purpose, there is a bridge between Ethereum and Cosmos. You can bridge your EthDYDX to DYDX. But, first of all, it’s time to explain what dYdX is about. dYdX is a perpetual DEX. So, it is possible to trade with leverage. Meanwhile, the V4 trading platform is now available in beta on Cosmos.
The current ethDYDX price is $3.91. The altcoin market cap is $707 million. It has a maximum and total supply of DYDX tokens of 1 billion. Approximately 180 million tokens are currently in circulation. It increased by 62.3%, 72.2% and 107.7% in 7, 14 and 30 days. It also increased by 59.8% in 1 year.
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