xrp crypto value

Forget Bitcoin, Ethereum, Cardano, BNB And XRP—The Price Of This Small Cryptocurrency Is Quietly Soaring

What Next For Bitcoin, Ethereum, BNB, Solana, Cardano, XRP And Terra’s Luna
Written by publisher team

The price of Bitcoin and other major cryptocurrencies failed to post gains over the past month – although they did get off to a solid start in October.

do not miss: What (or who) is driving the crypto market in 2021 and beyond? listening to ForbesFree cipher codex alive Webcast on October 14th at 2:00 PM EST and be ahead of the market

The price of Bitcoin broke through the water since this time last month, while the price of Ethereum lost nearly 15%. Rivals Ethereum Cardano and Binance’s BNB – now the third and fourth largest cryptocurrency after massive gains this year – have lost 25% and 12%, respectively, since early September.

As the price of Bitcoin and other major cryptocurrencies, OMG, the original token of the Ethereum scaling network OMG, has surged to levels not seen since early 2018 — up nearly 150% since early September.

Register now, for free Codex—Daily cryptocurrency newsletter. We help you understand the world of bitcoin and cryptocurrency every day of the week

The price of OMG surged in tandem with the broader bitcoin and cryptocurrency market earlier this year, peaking at just over $13 as it was listed on the major US cryptocurrency exchange Coinbase. After that, it collapsed to about $3, but has risen again in recent months, rising to over $18 last night.

“It seems that the rise of OMG was due to the excitement of investors in [layer-twos] And on the announcement of the mainnet launch of Bupa Network, [a layer-two] An optimistic group, as OMG token holders are eligible for an upcoming airdrop of Bupa Governance token,” Martin Gaspard, research analyst at cryptocurrency platform Crosstower, told Coindesk.

In June, OMG rebranded as part of its Layer 2 hub and collaborated with enya and boba networks, planning to reduce ethereum’s impressive gas fees, improve transaction speeds and expand smart contract functionality.

Codex—Free daily newsletter for crypto enthusiasts

More from ForbesBillionaire ‘SPAC King’ Reveals His Huge Bet on Bitcoin and Predicts Bitcoin Price Will Rise As Gold Replaces

Other tier 2 projects focused on Ethereum have also seen a surge of interest in recent weeks, although the growing number of active addresses in Polygon has so far failed to drive up the price of its coin.

“The adoption rates of Ethereum 2 solutions continue to rise, as the number of active daily polygon addresses flipped for the first time last week,” Marcus Sotirio, a trader at UK-based digital asset broker GlobalBlock, wrote in a note.

“The Etherscan data model shows that the number of active addresses on the polygon has grown by 168% in the past 30 days, while the number of Ethereum has increased by 0.6%. This rise in adoption is mainly due to NFTs and gaming and may result in an increase in the price of the original token, Matic, Short term. “


About the author

publisher team