This week we review Filecoin (FIL), Internet Computer (ICP) and 3 major altcoin projects. When choosing these projects, we considered various factors such as positive technical developments, important news and noticeable changes in price.
Altcoin projects to watch during the week of February 20
Filecoin (FIL)
Filecoin (FIL) has entered one of the biggest price increases in the past week, among some notable developments. The first is the upcoming version of Filecoin Virtual Machine (FVM), a runtime environment for smart contracts on the network. The Filecoin team has confirmed that the release is imminent.
The project also hosts several events and the biggest community event of the year will be held on March 1. FIL price started the week at $8.70, accompanied by all these news. It was trading around $4.5 last week.
Internet Computer (ICP)
The Internet Computer project, which is trying to create a decentralized internet, saw a price increase of over 30% for the token last week. The project attracted attention with its strong growth in terms of its ecosystem and overall network metrics.
Ecosystem growth includes storage solution AirGap, which adds ICP support. Notable growth metrics include massive increases in social engagement and a roughly 1,800% increase in network activity in 2022. The altcoin was priced at $5.58 earlier last week and is now priced at $7.38.
Primer (ASTR)
Decentralized application (dApp) and interoperability focused project Astar (ASTR) benefited from a 38% increase in token price following the announcement of partnership with Sony Network Communications. The partnership focuses on the growing Web3 space.
The partnership between Primer and Sony Network Communications is an incubation program to help develop projects in this area. Applications are open until 6 March. cryptocoin.comAs you follow, ASTR is currently trading at 0.09703 dollar.
Stacks (STX)
Stacks (STX), a smart contracts layer for Bitcoin, has more than doubled the price amid significant development growth. There are many more developers in the project developing solutions that may have led to the price increase. More than 35,000 smart contracts have been deployed, with Stacks proposing an optimistic future.
STX started last week at $0.30, currently trading at $0.6231, up 50% from the last 24 hours.
VeChain (VET)
Launched nearly seven years ago, VeChain (VET) continues to expand its ecosystem as new dApps and solutions arrive. One of them is the partnership between VeChain-based DEX VeRocket and stablecoin gateway Stably. This provides fiat launchpad, which allows the exchange of fiat currencies such as dollars for users.
Other platforms in the VeChain ecosystem have also announced new features such as a social media login like NFT Marketplace World of V. In other updates to the project, VeChain will announce the winners of the 2023 steering selection committee on February 28, further deploying the core of VeChainThor’s governance model, according to the project. VET started the week strong and is currently trading at $0.0316.
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