Everyone can be a genius during a beef market, but the real stars shine when the water changes. The same can be said for crypto projects and developers, and when the pump is over, it will be easier for investors to distinguish pump and dump projects from those with good fundamental properties.
Now that the price of Bitcoin (BTC) has once again found its place in the range of $ 42,000 to $ 45,000, the mood in the cryptocurrency ecosystem has become bullish again, with projects constantly releasing new upgrades that are rewarded with a huge price increase.
Here’s a look at three projects that have continued to grow and attract investors despite recent market weakness.
Render Network is a distributed GPU protocol running on the Ethereum network (ETH) that helps artists and studios connect to the GPU processing power they need to create digital shows.
In recent months, Render has continued to improve the capabilities of its network by trading in the cryptocurrency market in emerging sectors, including 3D modeling, real-time movie reproduction, games and Metaverse.
As a result of the protocol and listing improvements on Coinbase, the protocol’s original RNDR token rose 137% from $ 1.80 on January 24 to a daily peak of $ 4.26 on February 2, when Coinbase traders got their first chance to buy the token.
RNDR / USDT, 4-hour chart. Source: Trading View
Since non-fungible tokens (NFTs) and Metaverse continue to be among the most popular topics in cryptography, the need for computing power to deliver high quality digital images is an important utility for projects such as the Render Network.
NFTX improves stock storage system
The popularity of NFTs has also caused the prices of many projects to skyrocket and created the opportunity to use NFTs as security.
NFTX is a community-owned NFT marketplace and ecosystem that has benefited from meeting this need through the development of inventories that have provided decentralized financing options, and helped turn NFTs into revenue-generating assets without the typical risk of providing capital and Safety. liquidity.
Since the launch of the shares on the network, the price of NFTX has risen 124% from a low of $ 57.66 on January 21 to a daily high of $ 129.16 on February 1.
VORTECS ™ value (green) compared to NFTX price. Source: Cointelegraph Markets Pro.
VORTECS fra data from Cointelegraph Markets Pro began to reveal positive prospects for NFTX on January 25 when it reached a peak of 77 while the price was about to rise another 70% over the next six days.
Related topics: Crypto Biz: Digital Currency Industry More Optimistic Than Bitcoin Schemes, January 27 – February 2
Yield Guild Games focuses on community building
Another project that also benefits from the momentum associated with NFTs, Metaverse and games is the Yield Guild Games, a group that focuses on investing in NFTs for the virtual world and developing the world’s largest virtual economy capable of optimize their assets to maximize returns. and profits. on investments for token holders.
For the past two months, the YGG ecosystem has been engaged in creating partnerships and creating a scholarship program to help users from around the world generate revenue from playing for profit.
The project has also shown its commitment to solving the problems of the real world by launching a fundraising platform for victims of Typhoon Odette in the Philippines, which has raised a total of $ 1.45 million in aid as of February 1st.
This focus on creating designs that benefit community members, as well as creating new partnerships within the ecosystem, helped increase YGG’s price by 89% from $ 2.17 on January 24 to $ 4.11 on February 7.
YGG / USDT 4 hour chart. Source: Trading View
At the time of writing, YGG is trading at $ 3.63 with a 24-hour trading volume of $ 52.6 million, a total market value for cryptocurrencies of $ 1.7 trillion, with a bitcoin dominance rate of 41.6%.