Several cryptocurrencies are benefitting from the upward trend of the market. Here are three that we singled out.
1. Algorand: Algorand, a proof-of-stake blockchain cryptocurrency protocol, recently announced it added more than 6 million new accounts this year. One of the reasons for the massive adoption of the Algorand blockchain network is its technical upgrade. This makes Algorand-based decentralized applications (Dapps) run efficiently on various low-power devices like smartphones. Algorand is known for transaction speed. The upgrade is just an example of how it will help developers to connect with each other automatically. In response to the news, $ALGO.X surged 8% in the past 24 hours, reaching $0.79.
2. EOS: The EOS community finally has something to look forward to after a year of ups and downs. The blockchain network, which enables decentralized applications (Dapps), gained some attention when crypto exchange crypto.com announced it would allow deposits and withdrawals of $EOS.X via Cronos ($CRO.X). Cronos is a native token of crypto.com. As a result, $EOS.X saw over a 12% jump, trading at $2.43. The token is currently ranked 51 on the list of cryptocurrencies by market capitalization.
3. Dash: Dash, an open-source blockchain network, aims to solve scalability issues related to Bitcoin. Venezuela’s national cryptocurrency, Petro, is built on the Dash blockchain, which is why $DASH.X is popular there. Recently, the South American country announced it would raise the minimum wage to the equivalent of $30 from its previous level of around $2. It would be done by pegging the monthly minimum wage to the Petro (PTR) cryptocurrency. Since Petro is built on top of the DASH blockchain, $DASH.X gained attention today. Token prices have risen over 27% in the past seven days, trading at $122.