This article will take a look at five mid-cap altcoins that shot up over the past week as most of the rest of the market went through a correction.
1. Elrond (EGLD)
The Elrond blockchain project’s native token is trading at $ 275 at the time of writing, up from a massive 73% over the past week.
Data from TradingView shows that EGLD’s price has risen 437% from its $ 52 low on June 22nd to a new all-time high (ATH) of $ 302.14 on September 14th.
Elrond is a highly scalable, fast and secure blockchain platform for distributed applications (software applications that are mainly hosted in the cloud and run simultaneously on multiple systems), business use cases and the new internet economy.
EGLD’s recent momentum is the result of the introduction of Maiar Exchange, a DeFi protocol built on top of the Elrond network that allows users to trade in different pools and provide liquidity. On September 9, Elrond notification that thanks to the integration with Moonpay, US citizens can buy EGLD directly through Maiar, which gives the project access to the world’s largest retail economy.
Elrond hit a market cap of $ 5 billion for the first time over the weekend, and the token was listed on the KuCoin global exchange on Monday. Stock market listings often follow strong rallies, especially in combination with the futures market or an exchange that is in the top 5 by volume.
The third factor that supports the EGLD rally is the growth of the Elrond ecosystem. Recent partnerships include adding AI-generated media content through a partnership with Humans – a platform that integrates data and technology to build AI models and deals with NewsCrypto – allowing users to learn more about Elrond through the “Crypto Academy” of the platform. In addition, Elrond also has a new integration with Copper, a major provider of digital custody services.
2. Hedera hash graph (HBAR)
Next up is Hedera Hashgraph’s decentralized public network. The original HBAR asset, trading at $ 0.52 at press time, is up over 91% over the past week.
Hedera Hashgraph is a publicly distributed ledger that supports Dapps on the web scale. Data about Hedera is written in DAG (Directed Acyclic Graph) instead of in the chain like other popular blockchains today.
The network was expanded from 21 to 22 nodes during the mainnet upgrade last week:
“In the Hedera Hashgraph v0.17.4 mainnet upgrade:
• The transition node of the London School of Economics and Political Science has been added.
• The Magalu node has moved to a permanent location in São Paulo, Brazil (first node in South America) ”.
3. Nearby (NEAR)
Near is an open source, proof-of-stake (PoS) public blockchain. The native asset, NEAR, trades at $ 9 at press time and is up over 44% in the past seven days.
NEAR is a decentralized development platform that provides the ideal environment for dapps by overcoming some of the limitations of competing systems – such as low throughput, slow speed, and scalability.
According to the project’s website, the network held a hackathon until September 12th to bring new developers into the community of the protocol.
4. Mina Protocol (MINA)
Mina Protocol is a lightweight blockchain project. The MINA token is trading at $ 5.9 at press time and is up 58.5% for the week.
Mina Protocol was developed by O (1) Labs in 2017 with investments from large funds such as Coinbase Ventures, Paradigm, Three Arrows Capital and Bixin Ventures. This is a blockchain-powered protocol, or the first compressed distributed ledger (DLT) technology, which means that “the entire blockchain is about 22 KB, about the size of a couple of tweets.
Last week the project announced an integration with Polygon:
“Mina Protocol and Polygon are working to build a bridge that will allow developers to build apps on Polygon to take advantage of Mina’s privacy and verification capabilities via Mina’s zk-SNARK-based protocol.”
5. Synthetix (SNX)
Finally, there is the blockchain-based derivative protocol Synthetix (SNX). The altcoin has grown more than 11% in the past 24 hours after another project, Lyra, announced a reward program tied to the protocol’s sUSD stablecoins.
SNX is currently trading at $ 13.7 and is up about 43% over the past seven days.
To mint new sUSD, traders must first acquire SNX and then tie them to the Synthetix platform through a process known as staking.
Lyra, a decentralized options trading platform launched in late August, plans to increase the supply of sUSD on Optimistic Ethereum – a Layer 2 used to accelerate and reduce transaction costs on the Ethereum network. . Lyra chose Synthetix’s sUSD token because it is “both a source of liquidity and a medium of exchange”.
As part of Lyra’s new “experimental liquidity mining program”, approximately 750,000 tokens will be distributed to liquidity providers.
Synthetix is a protocol that allows users to mint digital copies of cryptocurrencies like Bitcoin, as well as real assets like US dollars and crude oil. These “synthetic” tokens can then be used in DeFi, loan or deposit.
Here you can see the altcoin prices.
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According to Dailyhodl