Three of the best performing altcoins in recent days are THORChain (RUNE), Arweave (AR) and Cosmos (ATOM). Is it time to cash out or double down on these leading assets?

One To Bridge Them All

THORChain (RUNE) is a decentralised liquidity protocol that enables direct swaps between tokens on different layer-1 blockchains without intermediaries. Built on the Cosmos SDK, it streamlines cross-chain exchanges using RUNE as a bridge.

Source: CoinMarketCap

During the last bull run, RUNE showcased a remarkable triple top, unlike most other cryptos which peaked once or twice. Recently, RUNE outperformed the market, rising 37% from the previous month and an impressive 12.8% in the last 24 hours.

On September 15, THORChain enhanced its accessibility by integrating with Metamask, a leading self-custody crypto wallet with 30 million users.

Slow But Steady

Dubbed the Bitcoin for data, Arweave (AR) is one project that does not hide its ambitions. Arweave offers a unique “Single One-Time Fee” for permanent storage, simplifying user costs and making the decentralised storage solution more attractive to a broader audience.

Arweave has been slowly making its way back up the price ladder, adding 10.44% in the past 24 hours. While AR has been on a slow decline over the year, the past few weeks it has surged and gained over 37% in just one month.

Source: CoinMarketCap

Over 115 significant projects have integrated Arweave, highlighting its real-world adoption. However, while the AR token offers inflation-resistant supply advantages, Arweave’s “Democratic Content Policy” might limit an open economy by enabling content blacklisting.

Additionally, getting detailed project information requires navigating multiple sources.

The past week also saw the highest number of transactions in Arweave’s history, adding almost five times more data onchain.

A Cosmos of Blockchains

Cosmos (ATOM) is the native cryptocurrency of the Cosmos network, a decentralised ecosystem of independent blockchains that can interoperate with one another. The Cosmos platform, through the “Inter-Blockchain Communication” (IBC) protocol, addresses blockchain scalability and interoperability issues.

Source: CoinMarketCap

Although a late bloomer in the recent market rally, ATOM gained 8.2% in the last 24 hours.

According to Cosmos Club, bullish signs hint at ATOM’s potential to join the top 10 coins. They recommend that for ATOM to rise to prominence, it should prioritise evolving into a governance-based capital asset, introducing functionalities like open market operations and liquidity injections. Ethereum distinguished itself from Bitcoin, and Cosmos can do the same by focusing on ATOM’s role in Interchain protocols, they argued in a post on X.

The post THORChain, Arweave, Cosmos Take Off! Dive into the Reasons for the Uplift appeared first on Crypto News Australia.

Filed under: Bitcoin - @ October 31, 2023 3:20 am