There will be no big move in the crypto market for some time as the top altcoins await big news. Meanwhile, some other tokens are gaining traction. Here are some of them:
1.THORChain: THORChain, a decentralized liquidity protocol that enables users to exchange cryptocurrencies easily across a range of networks without the need for a third party like Binance or Gemini, was the center of attraction of many investors.
Last week, developers announced the launch of Thorfi, a feature that allows synthetic assets to be launched as part of the network.
Synthetic assets provide people with the opportunity to create derivatives using real assets in the blockchain industry. For instance, one can create synthetic derivatives based on Amazon, Tesla, or any other asset. Thorchain will utilize its liquidity pools to back its synthetic assets, according to the announcement. These tokens will be minted from 50% RUNE and 50% of the target asset.
The move has created more demand for $RUNE.X within the crypto community. This has resulted in its market cap gaining over $2.47 billion, making it the 47th biggest cryptocurrency. The token rose by 18% today, trading at $7.53.
2. MovieBloc: MovieBloc, a blockchain-based streaming platform aiming to challenge the domination of the movie theatre and home entertainment industry, recently ranked among the top trending tokens on CoinMarketCap.
MovieBloc’s goal is to support filmmakers and viewers through blockchain and monetization opportunities. Earlier this month, it announced a new partnership with one of Australia’s hottest emerging film production companies, Continuance Pictures, which will distribute its films on the platform. In addition, creators will be able to add subtitles in their choice of language to make their movies available to more audiences.
The news caused the native token of MovieBloc, $MBL.X, to jump over 110% today, hovering around $0.019. The maximum and total supply of MBL coins are 30 billion, and the circulating supply of MBL tokens is 13.53 billion, according to data provided by CoinMarketCap.
Chainbing: Chainbing, a blockchain-based platform to store, index, analyze, and share data, received spotlight coverage on a lazy day. The native token $CBG gained over 13% at $43.37.
It is possible that the current surge is related to the announcement on Twitter that token holders will now have a voice in Chainbing’s community governance and development. It’s good progress of the project that was launched in the third quarter of 2021. The first data center is scheduled to launch in the fourth quarter of this year. Upon launch, users will be required to pay in CBG to access paid content, while contributors will be rewarded with token incentives when they provide information.