Three Altcoins Smash It Out of the Park with Killer Weekend Runs
Flare (FLR) stood out with significant increases in value, partly driven by the news of tech giant Google joining as a validator and contributing to Flare’s platform.
Ronin (RON) experienced notable gains in its value over the past week, attributed to its role as a gaming-focused blockchain that powers Axie Infinity.
Pyth (PYTH) experienced a notable increase in value over the past week with recent bullish developments and increased mainstream attention contributing to its positive market trend, despite a slight slowdown in the past 24 hours.
It was a mixed weekend for trading for most cryptos and BTC and ETH have been trading over a similar range over the past few days – on the seven-day graph Bitcoin is up just 1.36% and Ethereum 1.44%. Despite this, some alts managed to make some more exciting gains, but only two managed to increase price by double digits.
Flare (FLR)
Flare (FLR) managed to gain 15.5% in the past 24 hours, and 43.34% in the past week – not shabby at all.
Flare (FLR), 7-day graph, source: CoinMarketCap
In a nutshell, Flare can be summarised as the “bridge builder” of the crypto world, offering a platform that extends smart contract capabilities to other blockchains, particularly those without native support for such functionalities. Flare aims to enhance interoperability and utility across diverse crypto networks, bringing advanced blockchain applications to a wider range of assets.
Flare had some exciting news recently when it was announced that none other than tech behemoth Google would join Flare as a validator. Google will not only assist in securing the blockchain but also provide infrastructure and contribute to the Flare Time Series Oracle (FTSO).
Ronin (RON)
Ronin (RON) also made some impressive gains of 12.32% in the past 24 hours and 26.21% in the past week.
Ronin (RON), 7-day graph, source: CoinMarketCap
The gaming-focused blockchain is tailored to enhance blockchain-based gaming, providing a scalable and accessible platform known for supporting Axie Infinity, which facilitates rapid and affordable transactions for an improved experience in the emerging play-to-earn crypto gaming market.
The price appreciation comes on the back of a renewed interest in blockchain gaming, earlier announcements around collectible axie leaderboard for Origins S7 and Coinbase adding Ronin to its roadmap – although this does not mean an asset will be ultimately listed on the exchange.
Asset added to the roadmap today: Ronin (RONIN)https://t.co/rRB9d3iqgA
— Coinbase Assets (@CoinbaseAssets) February 1, 2024
Pyth (PYTH)
Pyth (PYTH) had a good run-up early weekend but seems to be slowing down for the moment. It had gained 3.17% over the past 24 hours, with the seven-day graph looking more promising, showing 28.05% gains.
Pyth (PYTH), 7-day graph, source: CoinMarketCap
The “financial data oracle” of the crypto world, Ppyth focus is on providing high-fidelity, real-time financial market data to smart contracts across various blockchain networks. It’s designed to bridge traditional financial markets and decentralised finance (DeFi), enabling a wide range of applications to access accurate, up-to-date information from the financial world.
Pyth had rallied based on some bullish news around network development and adoption. Market intelligence platform Santiment believes FOMO is starting to set in for PYTH among increased mainstream chatter – perhaps some are considering to rake in some profits?
#Chainlink (+34%), #ImmutableX (+23%), and #Pyth (+26%) have all enjoyed impressive market cap growth in the past week. The mainstream crowd is discussing them at high rates, meaning #FOMO should lead to high volatility for these particular assets. https://t.co/ZtbiBgKaDM pic.twitter.com/xTLp8SaG4r
— Santiment (@santimentfeed) February 2, 2024
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Filed under: Bitcoin - @ February 5, 2024 2:59 am