The crypto world has made it normal, or at least usual to experience double-digit price movements within the scope of a day. Quitriam Finance news
While such volatility levels might certainly not appeal to every investor – understandably – it does create opportunities for some interesting trades that could make you a good bag of money rather quickly.
Naturally, high-volatility investments and acute price spikes are not for all investors and cryptocurrencies remain complex financial instruments – you should only invest in them if you understand what you are doing and why you are doing it. Remember to always do your own research and due diligence before investing in anything!
Following these wise words, let’s have a look at the top movers from the past few days!
NEAR Protocol (NEAR)
NEAR Protocol (NEAR) is a recent project launched two years ago in April 2020.
With its market cap getting close to $11 billion, NEAR Protocol managed to fight its way through the merciless crypto jungle and impose itself in the Top 20 largest cryptocurrencies.
Surging over 20% throughout the past week, what led to this spike in price?
In fact, the NEAR ecosystem is expanding at a fast pace, with one of its ecosystem’s largest decentralized exchanges called Trisolaris securing $4.5 million in a VC funding round. This represents a major catalyst for NEAR’s price that investors immediately picked up on.
Besides, NEAR Protocol is one of the most competitive Layer 1 (L1) blockchains of the moment, using a leading sharding technology called Nightshade that allows NEAR Protocol to process approximately 100,000 transactions per second! For reference, the Ethereum blockchain only processes about 15.
Growing at such a fast pace, NEAR Protocol is walking in the steps of other highly popular alternative-blockchain projects including the likes of Solana (SOL), Terra (LUNA), Avalanche (AVAX), or Celo (CELO), mentioned in the following section.
Celo (CELO) is another very popular Layer-1 blockchain that surged over 20% in the past 24 hours alone.
Celo is a very promising project that works on bringing cryptocurrency to society by leveraging smartphones. Celo does so by associating its users’ phone numbers to a crypto wallet’s public key, allowing populations with little access to financial servicess to access fast and secure payments.
Despite Celo’s very attractive growth perspectives in the short and longer-term, the recent surge in CELO’s price is actually more likely to have been triggered following announcements made during Celo Connect, a conference taking place last Monday and Tuesday in Barcelona.
During that event, the Celo Foundation announced the allocation of a specifically-dedicated $20 million fund destined to facilitate the adoption of its solution by users and incentivize new partnerships with payment and mobile network providers.
Allocating such an amount of funding represents a bold initiative for a project like Celo, explaining the unusual surge in CELO’s price over the past day, and creating promises of propelling it to new all-time highs – watch out!
Quitriam Finance (QTM)
Quitriam Finance (QTM) is one of the latest ICO to date, currently offering its native token, QTM, for presale at the price of $0.000011.
While this project is still in its presale stage, it shows the characteristics of a successful launch.
Indeed, the project is developing its native decentralized exchange, Quitriam Swap, which would allegedly be able to handle up to 50,000 transactions per second, or over 3,330 times more transactions than the Ethereum network.
This will be enabled by Quitriam Finance’s multichain deployment which will allow Quitriam Swap to systematically route its trades through the fastest and cheapest blockchain at any time, and process transactions more efficiently overall.
This project is not without reminding Pacman Frog (PAC), another burgeoning project that also includes gaming and entertainment features, along with liquidity-providing and NFT solutions within its ecosystem. Despite being themed after very different universes, Quitriam Finance and Pacman are comparable in many ways and are worth a look before their respective tokens become publicly listed!