Day after day it seems like the market can’t catch a break. Bearish news continues to unfold every time Bitcoin is about to get a leg up. But there are still some coins actually reaching new grounds in price. So, in this article, we’re going to discuss five projects which are testing new resistances even in one of the toughest pullbacks of the year.
Polygon
Matic is up 150% in the last week totally ignoring all the bearish sentiment in the market. Since yesterday, it increased by 50% in price. For something with such a high market cap like Polygon to make a move like this clearly indicates we’re not in a bear market. Matic was an Ethereum layer 2 solution. They have since rebranded as polygon. Layer 2 simply means a secondary framework or system that is built on top of Ethereum. Like Polkadot and Ethereum it’s an ecosystem for building blockchains. Lark Davis said in a video on Sunday:
“Everything is going off the charts with polygon right now. The user statics, the price, and the number of projects are all off the charts.”
GLITCH
The Glitch Developers write in their whitepaper:
“The GLITCH blockchain is written in capitals to emphasize its importance to the platform.”
Ivan on Tech commented:
“GLITCH is basically an ecosystem for DeFi where each Dapp will be it’s own chain. It’s exactly like Avalanche.”
Glitch is fully integrated on Ethereum as an ERC20 token, but now you can also purchase Glitch is a Bep-20 token on the Binance smart chain. The Glitch community on Twitter on Telegram are some of the most enthusiastic people you’ll find in crypto now and they are excited for what they believe is a promising future for GLITCH.
Thorchain
On Thorchain.org, the developers write:
“Thorchain is a decentralized permissionless network that allows the swapping of digital assets such as Bitcoin, Ethereum, and BNB via continuous”
Liquidity pools were invented in 2017 to solve the crisis many exchanges were having with liqudity. Uniswap was the company to pioneer this technology and Thorchain helped to sustain liquidity in DeFi ecosystems with their juicy yields that they offer token holders.
Kusama
As you can see in the Tweet below, Gavin Wood has announced that Kusama’s parachain’s auctions will be happening soon. The neat thing about Kusama is that Gavin Wood was the head developer for Ethereum. So, one of his new projects, Kusama and Polkadot are going to likely go parabolic soon. While not everyone in crypto is aware of Kusama’s potential, the parachain auction announcements are arguably some of the most bullish news in the crypto industry all year long. Kusama truly does not care if Bitcoin and Ethereum are in dips – it seems like it’s going to chart new price territoy anyways.
Quickswap
Quickswap is a DEX (decentralized exchange) powered by Polygon, a layer 2 solution which we already discussed at the beginning of this article. So, instead of the Ethereum powered Uniswap, Quickswap is run by the Polygon blockchain. Trading on the Polygon network brings the benefits of low transaction fees as well as time. Quickswap is the first DEX built for the Polygon network. But it is a cross chain DEX meaning you can connect an Ethereum wallet to Quickswap as well. Quickswap is up 50% in just 24 hous. With how $matic is setting new price discovery, we could see the price of Quickswap explode soon.
Final thoughts
Sure, there’s a lot of blood on the crypto streets right now. But there are projects like the ones mentioned above which are becoming stronger by the day. This indicates that the crypto market is in good health.
Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.
