Seemingly Unstoppable Altcoins: POA Network (POA), Dentacoin (DCN), Kyber Network (KNC), Prochain (PRA)
In the current market, getting a project you can trust isn’t easy to find. Many coins pump and deflate immediately leaving you with useless bags. To avoid such, due diligence is needed. Here are a few of the top gainers this week that can make great additions to an investor’s portfolio.
POA Network (POA)
POA has attracted a lot of interest lately due to its platform and price surge. The token has surged +17.56% and +19.33% over the 24h and 7-day periods respectively.
Why the surge?
POA20 is to be listed on the Ethfinex trading exchange today, adding to the two available markets in Binance and Bibox. POA is also scheduled to make history today as it launches the first cross-chain transaction over the bridge involving two blockchain networks.
POA Bridge is unique as it makes it possible to easily transfer tokens, faster and at low costs. Today’s demo involves transferring tokens from its network to the Ethereum and back. The demo will attempt to transfer 1,200,000 POA tokens to the Ethereum network and back.
POA Network (POA) is one of the vibrant Ethereum-based platforms that provide an open-source platform for smart contracts. It operates as a side-chain on the Ethereum network and utilizes Proof of Authority consensus mechanism.
The developers of this platform aim at creating an ecosystem that helps various blockchains to connect over a technology called a bridge. At its core is the need to enable faster transactions, lower fees, and higher efficiency for blockchains.
Dentacoin is experiencing one of the highest price surges this week. The token is trading at $0.001274 against the USD. It’s trading +48% and 70% higher over the last 24h and 7 days respectively. Its market cap has grown from $240 million to $414 million in the last 24 hours.
Why the surge?
There’s excitement around the coin’s potential and an upcoming crowd sale. However, the latest buzz concerns an imminent listing on OKEx. The exchange has proposed five tokens to be added, among them is DCN. Theirs is that feeling that the value will skyrocket by nearly 300% once it’s listed
Dentacoin is a blockchain-based solution that targets the dental industry. It aims at improving the general healthcare using a number of blockchain tools like the Review platform, a mobile app, web app, and an assurance platform.
DCN has already been used as a payment method in a real clinic and at a manufacturer, illustrating its usability.
Kyber Network (KNC)
Kyber Network (KNC) is proving to be a popular token judging by the increasing number of Exchanges that are listing it.
The token is currently trading at $2.45 against the USD. The 66th ranked token has surged +13.36% in the last 24 hours and although its value over the week is down by -4%, it’s still hot due to current trends. It has a market cap of $329 million and has $57 million worth of KNC traded today.
Why the surge?
Bitfinex has enabled deposits for KNC onto the site, opening it up to more investors. There is also good news from elsewhere. The token will also be listed on Ethfinex, adding to Binance, Bithumb, and Huobi.
Kyber Network is a decentralized Ethereum-based cryptocurrency that offers blockchain aimed at improving the interchangeability, fluidity, and conversion of digital assets.
The platform’s trustless blockchain system provides users with a convenient and secure network upon which they can undertake token exchange with the freedom and flexibility of their choice.
Kyber Network has the capacity to provide a platform upon which other cryptocurrencies can be transacted. It’s also able to host other crypto assets other than the top cryptocurrencies for exchange and trade. So this week sees the ArcBlock (ABT) will be listed adding the number of assets.
Prochain is among the top gainers this week thanks to a great rally. The token is currently trading at $0.607 against the USD. That price is a jump of +26% in the last 24 hours. Its price the previous day was $0.480. The token has also spiked by +36% over the last 7 days.
The daily trading volume has nearly doubled, from $16 million worth of PRA were traded on May 9, 2018. That figure has nearly $31 million at the time of writing. Over the last 30 days, the token has surged by 184%.
Why the surge?
Currently, you can only buy PRA tokens on OKEx, Bibox, OTCBTC, and KKCoin exchanges. This is a very tiny percentage of the entire cryptocurrency market. However, that is about to change with the token set to be added to Bit-Z exchange.
ProChain is a Chinese-based crypto that provides users with first precision advertising opportunities via blockchain-based big data solutions. The ERC-20 token allows users to freely exchange tokens on the Ethereum network.
With the current pace of big data evolution, Prochain could be among the very first to make a break. PRA tokens stand to gain more, especially in the Chinese market.
Remember, due diligence could be the difference between a happy experience and nightmare on the crypto trading floor.