Top 5 Weekly Altcoins To Keep An Eye On, According to Altcoin Buzz
Both crypto and the stock market seem to be almost melting down together in tandem lately. But there are still a lot of opportunities for positivity, as we’ve seen actually recently.
As a result, Altcoin Buzz, a Youtube Channel that updates the latest information about crypto, has highlighted the top 5 altcoins that traders should keep an eye on this week.
Near Protocol (NEAR)
The first altcoin mentioned on the list is Near Protocol (NEAR). NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput, and poor interoperability.
Zorran Kole is the person behind the crypto insiders Telegram group, and he revealed some interesting news about NEAR. On April 20th, NEAr will launch its native stable coin, the USN coin.
According to Zoran, they’ll offer a 20% APR. This is going to attract money into their ecosystem. As a result, they’re going to become direct competitors with Terra (LUNA), the Anchor protocol (ANC) are currently offers 19.5% APR. Furthermore, Zoran also stated that Coinbase will list NEAR token soon. This will allow NEAR and their NFTs to get listed on Coinbase’s NFT marketplace. That’s why Near Protocol takes first place on the list.
The second one on the list is Elrond (EGLD). Elrond is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency and a $0.001 transaction cost.
It’s known as the king of sharding by offering all kinds of different sharding variations and promises to improve scalability. It is also a POS (proof of stake). Elrond to deliver a throughput of a massively impressive 12,500 transactions per second and another notable point about Elrond is that it uses a unique mechanism to ensure network safety.
It changes the validators every five seconds or after each new block so that no validator can manipulate the network and the EGLD token seems to be a bit under the weather lately.
But we did find some important updates that could lead to some more positive price movement. To begin with, on April 15th, the metabonding claims of new tokens starts. This is a bootstrapping product that will help web 3 startups. It connects projects to the Elrond community, so that’s coming up pretty quickly and to be even more specific.
The Metabonding will take place on the Maiar Exchange. Then we also must consider the Elrond and Ethereum bridge which is almost complete. It’ll also connect other EVM chains which will bring new capital to the Elrond ecosystem and we think it’s going to give an impulse to Elrond’s DeFi 2.
The next altcoin to keep an eye on is Zilliqa (ZIL). Zilliqa is a public, permissionless blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many dApps, and as of October 2020, it also allows for staking and yield farming.
It’s a project that you should not overlook with a 202% increase in price. The core of that positive price momentum was the launch of Metapolis. it’s the metaverse of all metaverses in a sense, putting Zilliqa on top of the metaverse world.
It’s gonna have land sales in the form of NFTs. You can trade, develop these lands, or even lease them out. If you choose so, there’s also plenty more to do. There’s more to see and to experience as a visitor or participant.
You can take part in p2e that’s play to earn gaming. You can also visit events like concerts or fashion shows. You can use a DeFi pool for lending, trading, or staking for tokens and NFTs. You can join mixed reality portals and take full advantage of VR and AR. That’s why Zilliqa saw the price increase.
The next one mentioned on the list is Terra (LUNA). Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.
Terra is buying Bitcoin as a backup for their UST stablecoin up to $10 billion in BTC. The LUNA foundation guard added a hundred million dollars worth of Avalanche (AVAX) to its reserves. Terra is considering bridging into the Avalanche ecosystem. Terra and Avalanche are working together on a new gaming subnet. More details should be available soon. So this really does show the importance of layer ones working together. There’s so much more possible that way and UST adoption in Avalanche is increasing. That’s why this is the fourth altcoin to keep an eye on.
Boba Network (BOBA)
The last one is a brand new altcoin, Boba Network (BOBA). Boba is a layer 2 Ethereum scaling & augmenting solution built by the Enya team as core contributors to the OMG Foundation.
Boba is a next-generation Ethereum Layer 2 Optimistic Rollup scaling solution that reduces gas fees, improves transaction throughput, and extends the capabilities of smart contracts. Boba offers fast exits backed by community-driven liquidity pools, shrinking the Optimistic Rollup exit period from seven days to only a few minutes while giving LPs incentivized yield farming opportunities.
Boba Network improves the transaction capacity of ETH. Their recent upswing again during the last 30-day periods has all been green. The recent upswing has three major factors:
The first factor is that their recent series of funding rounds raised $45 million. Investment firms and crypto-related projects alike participated infinite capital and dreamers VC versus Huobi and The Graph (GRT). This fund will improve its efforts to give the general public easier accessibility to cryptocurrency.
The second major factor is a new incentive program, WAGMI version 2. This is going to help their liquidity mining and ecosystem growth. Furthermore, they want to attract more developers, and active users will receive WAGMI rewards.
The last factor is the new dual yield liquidity mining pool on sellers. This USDC Boba pool has 100,000 WAGMI and 114,030 CELR rewards. This program will run throughout all of April out of $3 million in BOBA, rewards $2 million for LPs liquidity pools, and another $1 million is in reserve.