The green numbers on the cryptocurrency market are always refreshing and they come along with exciting possibilities for inversion or holding. Maybe it’s time to sell and reaping our nice earnings, or maybe it’s time to jump into the train before it’s too late. In any case, green numbers mean good news most of the time, and the more, the better.
This last week of August we’ve seen a lot of red numbers, starting with Bitcoin (BTC). The first cryptocurrency went down -4.6%; although, during the month grew 1.64% and found support in 11K dollars. That’s probably a nice event for the crypto-market in general since the altcoins use to follow the BTC prices.
However, Bitcoin was far from the high performance showed this week (and this month) by other cryptoassets. Let’s discover some of them, according to CoinMarketCap.
UMA Project (UMA)
It doesn’t ring you a bell? Universal Market Access, better known as “UMA”, is a DeFi protocol with its own homonymous token. The main promise offered by this system is the ERC-20 Token Builder to create “ priceless synthetic tokens “. To define its own price without oracles, these are capable to track the price of anything: since apples to the relative value of ETH to BTC. Thereby, they aim to work as a financial derivative between two parties.
And you know, everybody loves DeFi now. The UMA token is available on Uniswap Protocol and Balancer Labs since July, and their liquidity pilot with its yUSD “yield dollar” internal token was a recent success. Consequently, UMA started the week at 6.8 USD per unit, and now it’s been sold at 8.2, which is a 20.6% increase. This isn’t surprising though, since this August the UMA token has increased its price over 105%.
This blockchain was launched in 2015, and it’s possible to create the so-called “smart assets” with it. These internal tokens can represent a physical asset (like a car or house), or digital ownership of some kind. Besides, NEM is acting as a bridge between private blockchains (developed by companies, organizations, and governments) and public blockchains (open-source platforms and common cryptocurrencies).
Speaking of which, the NEM team is about to launch their new platform Symbol next September 15 th. This is an enterprise blockchain solution defined as a “secure value exchange network for business” with its own native digital currency, the XYM, equivalent to 1 XEM. Maybe this is the reason why the last one started the week at 0.074 USD and is now at 0.092 USD (+24.3%). August has been even more generous with XEM, increasing its price by 87.7%.
Another DeFi project on this list, and not just by chance. Serum describes itself as a fully decentralized derivatives exchange with the additional feature of cross-chain trading at very low fees. This means you can make swaps between different chains -like ETH and BTC, by example- and you can open positions in synthetic assets -like UMA’s, yes. It was built in Solana blockchain but is interoperable with Ethereum.
And just a little detail: isn’t been launched yet. Give the team some credit though, since their Initial Exchange Offering (IEO) took place barely the last August 7 th. The Serum DEX is launching this week, and there’s already a lot of excitement about it. Its native currency, the SRM, went from 1.7 USD to 2.3 USD in a 35.2% increase this week. Meanwhile, the total increase for this month is 77%.
“Put your extra disk space to work”, is one of the first things you see on the Storj webpage. And that is about this platform: you can rent your extra disk space to this blockchain and get paid in their native tokens. On the other hand, you also can be an average user and upload your files to this blockchain cloud, encrypting and splitting them for higher security. Storj is nothing else than decentralized cloud storage, after all.
Recently, Storj announced its integration to the file transfer’s service FileZilla Pro and migrated its production databases to CockroachDB. Besides, they’ve been working with the Blockchain Education Network (BEN) to educate students about their platform and blockchain technology in general. Probably, as a result, the STORJ token increased its price this week from 0.28 USD to 0.43 (an awesome +53.5%). The entire month comes for it with a total surge of 168.7%. Not bad, eh?
The blockchain apps don’t seem like something to manipulate from your phone… right? Well, that’s depending on what you want to do. If you want to mine PoW cryptocurrencies, nope, but for financial services is a good idea. According to Statista, there are at least 3.5B smartphone users in the world by 2020; against the 2B desktop users. Celo Foundation has noticed that detail, and that’s why they want to be a “mobile-first blockchain platform”, where everyone can access to financial services through their phones.
It seems Coinbase Pro appreciates this mission because they just listed CELO on their platform. And the community found this very positive because the token’s price jumped from 2.6 USD to 4.0 USD, which implies a 53.8% rise. August has also been nice to CELO, given the 135.2% total increase.
Wait! Before you leave and buy or sell: this isn’t trading advice, ok? We’re just informing you. Happy rise!
Originally published at https://blog.alfa.cash on August 28, 2020.