After the devastating November, the staking announcements of Chainlink and Apecoin are redirecting attention to the DeFi market. The following 5 altcoin projects are also accompanying this trend with various announcements.
Here is the December news feed of the 5 altcoin projects that lit the rally fever
Axie Infinity (AXS)
The popular crypto game experienced the biggest price increase this week, up 16%. The increase is due to the launch of the Axie Contributor initiative, which selected 700 people to participate in a pilot program for the program. This was part of Axie’s overall localization strategy. The 700 contributors will have specific roles and will be involved in developing a governance community for Axie. Amid all these developments, AXS is currently trading at around $7.65.
Stacks (STX)
The crypto community continues to move towards decentralized platforms following the collapse of FTX. Meanwhile, the STX price has seen a price increase of over 40%. The project on December 6 also announced Stacks Accelerator, an accelerator program to guide teams. Stacks Accelerator is another project working to bring decentralized applications and smart contracts to the Bitcoin network. STX is used to pay transaction fees and deploy smart contracts. It is currently trading at around $0.299.
The Graph (GRT)
While the GRT for The Graph increased by about 15%, the project experienced a surge in demand for its alt graphs despite the impact of the crypto crash. Graph extracts data from a Blockchain, processes it, and stores it so it can be easily queried via GraphQL. This demand peaked at 110,000 GRT on December 2. Graph is a Blockchain infrastructure network that runs on top of other Blockchains and allows users to access this data via sub graphs. GRT is currently trading at $0.065.
EOS (EOS)
EOS (EOS) rose 12% as crypto exchange Binance announced Tether (USDT) deposits and withdrawals on its EOS network. With the popular stablecoin now on the network, users can do much more in the world of DeFi. EOS is also planning other financial ventures and is generally focused on expanding its position in the DeFi altcoin market. EOS has made it clear that it wants to pave the way for Web3. Therefore, it launched several related initiatives. It is currently trading at $0.97.
Internet Computer (ICP)
The market value of the Internet Computer project has increased by about 10%, thanks to an update from the Dfinity project. Dfinity is one of the candies contributing to the ICP project. Recently, it announced a DAO Service Nervous System (SNS) named SNS-1. It was described as the most advanced DAO by Dfinity in a tweet on Dec.
Dfinity further stated that “SNS-1 is only the mainnet test of SNS, a dress rehearsal for future SNSs.” As Dfinity tweeted on December 9, users will also be able to hold tokens like DOGE or SHIB locally on Internet Computer. cryptocoin.com We have covered the details in this article. ICP is currently trading at around $4.45.
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