Bitcoin is consolidating around $54,000 after a strong rally. Major cryptos such as ETH, ADA, BNB, XRP, DOGE are also trading sideways. Meanwhile, several altcoin projects gained serious bullish momentum. cryptocoin.com We examine those who are in the top 100 with their market value and have experienced the highest increase in the last 24 hours…
The most rising altcoin project of the day was Phantom (FTM)
Total value (TVL) locked in Phantom rose 183 percent in the last 24 hours to $6.67 billion. This placed Phantom in the top 5 for TVL among Tier-1 chains. Also, Geist Finance, a peer-to-peer borrowing and lending platform similar to Compound and Aave, was launched yesterday. Michael Chen, former CMO of the Phantom Foundation, has dedicated Phantom incentives to Geist, allowing borrowers and lenders to earn Phantom in exchange for staking their Geist. Phantom has also partnered with Nansen. In light of these news, FTM rose 26 percent in the last 24 hours.
Second, the token of MDEX, a new decentralized trading platform launched in January 2021, gained 19.62 percent. MDEX has recently partnered with Kalata Protocol. MDEX was officially deployed on ETH last week. So MDEX users can buy and sell ETH holdings and add liquidity.
Third, Bitcoin fork Bitcoin SV (BSV) gained 19.22 percent. BSV seems to have risen after some exciting announcements and in-depth discussions around the BSV Blockchain space at the CoinGeek New York Conference, which lasted nearly 3 days.
ONE, CHZ, EGLD also gain momentum
Designed to facilitate the creation and use of decentralized applications (DApps), Harmony (ONE) gained 15.63 percent. The Harmony ecosystem announced the first decentralized exchange (DEX) analytics aggregator on Harmony yesterday.
After Harmony, Chiliz (CHZ), used on blockchain-based sports entertainment platform Socios, which allows users to participate in the management of their favorite sports brands, rose 14.30 percent. Chiliz has most recently announced its partnership with the Brooklyn Nets.
Finally, Elrond gained momentum by 13.31 percent. Elrond is a Blockchain protocol that aims to offer extremely fast transaction speeds using sharding. Elrond recently announced that they have started a long-term collaboration with Ardana, the stablecoin protocol on the Cardano blockchain. This collaboration aims to make EGLD one of the first non-native assets to be used as collateral for issuing dUSD in Cardano.
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