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5 great Cryptocurrency coins soaring high on CMC

Twelfth of August 2020. Five cryptocurrency coins within the top thirty on CoinMarketCap soaring high. Top price rise was Compound 57.1%

flying cryptocurrency

10 coins that may have reached their upward momentum.

Chainlink (LINK)

Link cryptocurrency
  • 6th on CoinMarketCap (CMC).Up 8.62% in 24 hours.
    • ChainLink is a decentralised oracle network that merges smart contracts with data from the real world.
    • Node operators are paid in LINK because the network has an honour system whereby node providers that possess large quantities of the LINK cryptocurrency get rewarded with large contracts. Alternatively, failure to deliver accurate information may result in a reduction of tokens.
    • Chainlink is involved with many large projects, amongst which are Oracle, Google Cloud, Binance and the Chinese Blockchain Service Network (BSN).

The confidence in Link reflected in it’s rising price, but is it a good time to buy? Probably best to wait for the dip.

Cosmos (ATOM)

Cosmos ATOM
  • 20th on CMC. Up 3.82% in 24 hours.
    • Cosmos is a decentralised network of independent, scalable, and interoperable blockchains that create the foundation for a new token economy.
    • Cosmos solves some of the hardest blockchain problems of scalability, usability and interoperability.
    • The Cosmos Hub has thousands of interconnected blockchains. The native token of the Hub is the ATOM.
    • Products built with Cosmos SDK. Binance Chain, e-money and IRISnet which is part of the Chines BSN project.

Cosmos SDK provides the tools for the user to write and launch custom blockchains. A mixture of pre-built modules are available and once built is can be launched onto the main public net. By connecting it via IBC to the Cosmos Network, the user can increase adoption and liquidity of their blockchain.

ATOM is riding high, so best to wait for the dip before buying.

Maker (MKR)

  • 27th on CMC. Up 20.17% in 24 hours.
    • MakerDAO (Maker Decentralised Autonomous Organisation.)
    • The Maker team describe this coin as a ‘digital currency that can be used by anyone, anywhere, anytime.
    • The first ‘stablecoin’ on the Ethereums platform is called DAI, and the MKR cryptocurrency underpins that coin.
    • Maker apps include Oasis, Migrate,

A substantial rise for MKR as its price increased by 20.17% in just 24 hours. This escalation demonstrates a positive post-Covid19 recovery. Not the best time to buy, wait for the dip.

Compound (COMP)

Comp cryptocurrency
  • 28th on CMC. Up 59.59% in 24 hours.
    • Built for developers, Compound is an algorithmic, autonomous interest rate protocol devised to open up a world of open financial applications.
    • The Compound Governance Token (COMP) was created as the first application to replace the administration of the Compound Lending Protocol through community governance.
    • Users of the Compound Lending Platform will be given the ability to suggest, debate and implement modifications to Compound without needing intervention by the Compound Team.

The Comp cryptocurrency has had a humungous rise over the past 24 hours, up a massive 59.59%. Many indicators are saying ‘buy’! But what goes up must come down. Never buy when prices are at their peak!

Aave (Lend)

Aave cryptocurrency
  • 29th on CMC. Up 21.55% in 24 hours.
    • Aave is a cryptocurrency token that operates on the Ethereum platform.
    • The word ‘Aave’ is Finnish and translates into English as ‘ghost’. The term is representative of a transparent and open infrastructure for decentralised finance.
    • It is an open-source and non-supervisory protocol facilitating the creation of money markets. Like regular banks, Users can earn interest on deposits and borrow assets.
    • Aave is a cryptocurrency token that operates on the Ethereum platform.

Another huge price leap. 21.55%, Aave is reaching an all-time high, not seen since its introduction on Binance in 2018. Has it topped out? Another cryptocurrency I wish I had bought a couple of weeks ago.

Time to Buy?

These are five cryptocurrencies that have taken off massively over the last 24 hours. They are amongst the top 30 cryptocurrencies on CoinMarketCap. Probably not the best time to buy, wait for the dip.

BNA

Disclaimer: Opinions expressed at Bitcoin News Agency are not investment advice. Investors should do their own thorough research before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. Bitcoin News Agency does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Bitcoin News Agency an investment advisor. Please note that Bitcoin News Agency participates in affiliate marketing.

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