Week 21: The top 20 cryptos continue to be hit hard by the crypto crash… However, three promising cryptos have managed to do well!
Crypto Polygon (MATIC) is once again at the top of our podium! Formerly known as the Matic Network, the Polygon (MATIC) is a second layer solution for the Ethereum blockchain. The problems of the Ethereum blockchain congestion and its high fees are now common knowledge. The Polygon project aims to improve the performance of the Ethereum blockchain. Polygon is therefore not a crypto competitor of Ethereum (as would be the Cardano for example). The principle of Polygon is to make the Ethereum blockchain communicate with "sidechains", that is to say secondary blockchains. Thus, this helps divert the flow and lighten the Ethereum network.
Overall, the Polygon cryptocurrency (MATIC) has been the most resistant to the crypto crash for weeks. This week again, she ended up in the green with a notable increase of more than 14% ! At the time of writing this article, the price of Polygon is € 1.6.
Uniswap (UNI) is a crypto that made a name for itself a few years ago with the implementation of its v3. As a reminder, Uniswap is a important application of DeFi, ranked 5th in terms of amount managed with $ 6.5 billion.
Concretely, it is a decentralized crypto exchange. You can therefore trade cryptos there as you do on centralized exchanges like Libertex, Coinbase, etc. But the advantage of Uniswap is that it works on a peer-to-peer basis and has own crypto funds made available by the users themselves.
Uniswap and its side decentralized shone on Wednesday May 19, 2021 on a black day for crypto prices. The number of transactions has skyrocketed, creating a number of technical issues for centralized exchanges, with some even having to go offline. At the same time, Uniswap worked without encountering any issues.
Over the week, the Uniswap cryptocurrency is in increase of more than 5%. Admittedly, this is not huge, but it remains a performance when at the same time we consider that Bitcoin (BTC) is – 10%, Dogecoin (DOGE) -20%, Internet Computer (ICP) -30 %, etc. At the time of writing, the Uniswap price is hovering around € 22.3.
The THETA project (THETA) aims to provide a peer-to-peer streaming video exchange service. Thus, users with specific video needs can directly swap bandwidth.
Currently, THETA is the 20th crypto in the world with a capitalization of over 6.2 billion euros. The price of THETA cryptocurrency is 6.2 € at the time of writing.
With a just 5% progress this week, THETA therefore comes in third place in the crypto ranking of the week.