Top 3 Coins to Watch – Week 50 – CoinCheckup Blog
As we move through the final month of the year, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
3. Near Protocol (NEAR)
NEAR is a secure decentralized storage and compute platform that allows users to manage high-value assets like money or identity. It is a public, sharded, developer-friendly, proof-of-stake blockchain which utilizes a Delegated Proof of Stake (DPOS) mechanism.
Why Near Protocol? Continued Strong Performance Expected
Near was one of the week’s best performers and grew by over 35% despite the majority of coins experiencing a pullback. Some of this may have been due to speculation surrounding a possible announcement of MoonPay allowing its users to purchase NEAR globally. In addition, Near is a highly performance blockchain that is compared with projects such as Solana and Elrond which have also been solid performers over 2021. As the year comes to an end, traders may look to increase their NEAR holdings and help the coin get close to its all time high price of $13
2. GALA (GALA)
GALA is designed to power the Gala Games ecosystem to support gaming re-imagined to benefit creators and players, alike. Founded by gaming industry heavyweights, Gala Games is working to make history in decentralized gaming.
Why GALA? Legacy Land Sale This Week
Gala was another of the week’s top performers and looks set to continue to attract attention. The platform merges the best of gaming and NFTs and also allows GALA holders to run nodes. This allows anyone to receive rewards in tokens including GALA, and limited edition NFTs and the Gala Games ecosystem continues to grow. Legacy is a business and entrepreneurial game on the Gala platform and allows anyone to design products, build virtual businesses, and earn and trade the native Legacy coin. The Legacy land sale takes place this week and opens up on December 12, and owning a Land NFT allows gamers to start their own in-game blockchain business association in Legacy. The possibilities are endless and you can find out more about Legacy here.
1. Ethereum (ETH)
Ethereum (ETH) is an open-source distributed blockchain that has smart contract functionality, and operates as a decentralized virtual machine which can execute scripts and be used to transfer ether between different nodes. Ethereum retains the status as the principal smart contract provider and platform for hosting ICOs with a number of leading projects operating ERC-20 tokens on the Ethereum network.
Why Ethereum? All Eyes on Ethereum This Week
All eyes were on Bitcoin last week as the market was concerned with whether or not BTC could hold the crucial $50,000 price mark. Well, attention turns to Ethereum this week as the market’s number two coin hovers around the $4,000 mark. ETH proved relatively stable over the week, and experienced only a mild decline of around 3%, although it was trading at over $4,500 in early December. With ETH 2.0 still on the horizon and the London upgrade completed back in the summer, a significant number of market analysts are bullish on the future of Ethereum and the coming week will give us a good idea of how ETH will perform as the year comes to an end.
How did the coins perform last week?
The seven day period generally led to mixed results across the market; and ALGO fell by11% and is currently trading at around $1.54. LUNA fell by 16% and is currently trading at $60, and BTC grew by 1% over the week, and is currently trading at $49,735. Over the course of the week, the market moved from an overall valuation of $2.30T to $2.33T, a rise of 1.30%.
Andrew is a writer that does most of his work on cryptocurrency-related topics. While he’s primarily interested in Bitcoin, he also follows major altcoins and the innovative ideas that new cryptocurrency and blockchain projects are bringing to the table.