In the first week of 2021, Bitcoin surged from $28,920 to $41,948, an over $13,000 net increase. ETH also showed an uptrend and topped $1,348, up more than 60% in a week. As KuCoin’s accumulated transaction volume exceeded 100 billion, the price of KCS also pumped a lot, from $0.66 to $1.2 before dropping to $1.03.
Considering the performance of all altcoins last week, KuCoin Blog will talk about the 3 altcoins you shall keep tabs on this week, MKR, XLM and NANO.
MakerDAO is a decentralized organization and a software platform based on Ethereum that allows users to issue and manage DAI, a stablecoin pegged 1:1 to the US dollar. MKR is the governance and utility token of MakerDAO. It gives the holders voting rights over the development of Maker Protocol and is expected to appreciate in value in accordance with the success of DAI itself.
After a year of DAI launching, its circulation reached 1 billion. MKR broke through its all-time-high last week, rising as high as $1,973. Therefore, some believe that the mass adoption of DAI has contributed to the price of MKR.
Trade MKR and 200+ other altcoins on KuCoin.
Stellar, based on the Ripple Labs protocol, is an open network that allows money to be moved and stored. Stellar makes it possible to create, send, and trade digital versions of all forms of money: dollars, pesos, Bitcoin, pretty much anything. It’s designed so all the financial systems can work together on a single network. The network’s native token XLM serves as a bridge that makes it less expensive to trade assets across borders.
On January 5, the Stellar Development Foundation (SDF) announced the partnership with Ukraine’s Ministry of Digital Transformation to “develop a modern virtual asset market infrastructure” and develop the country into an “innovative digital country in the financial market in Eastern Europe.” XLM skyrocketed over 100% after the announcement, hitting a high of $0.42.
Trade XLM and 200+ other altcoins on KuCoin.
Billed as “digital money for the modern world”, Nano is a lightweight cryptocurrency that is designed to facilitate secure, practically instant payments, without fees. It is claimed that it addresses some of the major limitations of both traditional financial services and many major cryptocurrencies.
On January 7, Nano officially published its 2020 review, and the milestones in 2020 boosted investor confidence again. In a pool by CoinMarketCap about users’ favorite cryptocurrency on Twitter lately, Nano also topped the rank, sharing its popularity in the crypto space. Following the recent pump, KuCoin margin trade added NANO with support of up to 10x leverage on January 8.
Trade NANO and 200+ other altcoins on KuCoin.
Investing in cryptocurrency is akin to being a venture capital investor. The cryptocurrency market is available worldwide 24 x 7 for trading with no market close or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin is not liable for investment gains or losses.
KuCoin Weekly Review Issue #4: 3 Altcoins to Keep Tabs on — MKR, XLM, NANO was originally published in kucoinexchange on Medium, where people are continuing the conversation by highlighting and responding to this story.
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