Market Analysis

Some Cryptos Go Vertical on a Relief Rally

from Trust Nodes 5 years ago 0 0 935

A number of cryptos have seen a jump of 50% or more as digital currencies turn green this August Friday.

VeChain is up some 40% after they recently released their Proof of Authority (PoA) mainnet with further announcements earlier this month that they were working on a vaccine tracking project. In addition, a crypto exchange KuCoin opened VET deposits and withdrawals.

Lisk jumped to $4.30 from $3.60 before currently settling on $3.80. They further announced plans to finally launch their mainnet after years of development on August 29th.

Ontology has seen a 40% jump. They a Delegated Proof of Stake (DPoS) system, similar to EOS, but seemingly based on NEO. They launched at the end of June and a movie platform called Spuul, with 60 million users, is apparently to build a new dapp on Ontology.

Nano has recovered slightly 40% after a nearly 99% drop from its all-time high. Populus too has seen a jump of 40%. They an invoicing system, with Bithumb apparently to list them.

PundiX has seen a gain of 30% after they begun shipping crypto Point of Sale systems called XPOS. They appear to be based on NEM, a private blockchain with public access.

Waltonchain, a China based project focusing on IoT by linking blockchain tech with RFID chips, also jumped today some 25% at one point. They use a trust based Proof of Stake (PoS) algo, which sounds like a marriage between PoA and PoS.

The small cap Cortex has seen a bigger jump at 70% as Bithumb has decided to list them. The project itself, on the surface, sounds like a contradiction. It apparently plans to add artificial intelligence to smart contracts (a reductive statement since smart contracts are Turing complete so you can code machine learning or whatever you want), but aims to do so on a Proof of Work (PoW) algo.

PoW, however, doesn’t scale very well with one, among many reasons, being a misalignment of incentives between miners who want high fees thus limit capacity, and users who’d rather they pay less.

Tatatu jumped more than 100% from $0.2 to nearly $0.5. They’re an interesting eth based project. BAT, but for movies or entertainment, with some pretty big backing.

The top ones have also been up. XRP the most at nearly 10%, while eth is up some 20% over the past few days, now standing at just under $300.

After the doom season, thus, it looks like at least one day of green can be enjoyed, but whether this is just the beginning or just a bounce, remains to be seen.