It’s worth noting that most of the cryptocurrency market is in the red as we start Wednesday – Bitcoin was trading around $56,500 before suddenly dropping by as much as $2,000. It’s changing hands at $54,809 at the time of writing. Coins such as Ethereum, ADA, XRP have not experienced a serious change. However, among the top 100 according to market value, there are altcoin projects that continue to rise.
Stacks (STX) still tops today
cryptocoin.com Stacks (STX), which was at the top of our list yesterday, was the altcoin that showed the highest rise with 15.20 percent today. Stacks is a smart contract layer built on top of the Bitcoin Blockchain. This means it offers most of the functionality of smart contract-enabled Ethereum with the added security of Bitcoin. In other words, a network capable of bringing Bitcoin to the NFT field. Last week, the Bitcoin Birds collection created by a 12-year-old sold out within an hour, allowing some Ethereum-based assets like the NFT series Satoshibles to switch to Bitcoin.
Second, the popular DEX PancakeSwap’s CAKE token gained 12.33 percent. CAKE carried out the coin burn and burned 7,063,863 CAKE tokens worth $132 million. Then they bought CAKE for $3.8 million. PancakeSwap also offered PancakeSquad NFTs for sale and all of these NFTs were acquired.
Other altcoin projects that have gained the most value: ONE, BNB, ATOM, OMG
Third, Harmony’s ONE token rose 11 percent. Harmony made an important partnership announcement yesterday. Harmony has partnered with Curve Finance. The team tweeted that they are providing $2 million worth of ONE tokens to help launch Curve.
Fourth, Binance Coin (BNB), the world’s largest cryptocurrency exchange by trading volume, rose 10.75 percent. BNB continued its momentum this morning after Binance announced it has launched a $1 billion fund to develop the Binance Smart Chain (BSC) ecosystem.
Fifth, the OMG token of OMG Network, the layer 2 scaling solution built for the Ethereum Blockchain, rose 8.31 percent. Finally, Cosmos (ATOM) gained 7.05 percent. Recently, CosmWasm announced the IBC integration of Cosmos and the beta version of CosmWasm 1.0 has been released. With this, Cosmos chains will be production ready for everyone.
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