Top 3 Coins to Watch June 14 - June 20, 2021
As we move towards the end of Q2, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
1. Kusama (KSM)
Kusama is an experimental blockchain platform that shares many similarities with Polkadot. Just like Polkadot, Kusama is built with the Substrate framework, which allows users to deploy specialized blockchains. Generally, Kusama receives upgrades before Polkadot, so they can be tested before they’re added to Polkadot.
Why Kusama? Parachain Slot Auction Begins on June 15
The Kusama team have outlined the progression of their parachain auctions with the slot auctions set to start on June 15. The first Kusama Parachain Slot auction will commence at 12:00 GMT, and end at 09:00 GMT on June 17. Bids will continue to be allowed until 09:00 GMT on June 22 with the auction winner (the highest bidder at a randomly select block) being chosen at 11:00 GMT, on the same day. The parachain auctions will help to determine which parachains will be integrated into the Kusama relay chain, with five auctions taking place over five weeks with additional slot auctions set to take place in the near future. You can find out more about the slot auctions in this official blog post.
2. Metal (MTL)
Metal is a cryptocurrency that operates on the Ethereum blockchain. It uses a technology called Proof of Payments Processed which awards individuals with a small proportion of Metal for each dollar spent. Metal also operates as a money transfer system that enables funds to be sent globally to a phone number.
Why Metal? Loan Airdrop Starts on June 15
MTL holders are eligible for the LOAN governance token airdrop beginning on June 15. LOAN is used for governance across the Proton Lend protocol, and the airdrop will commence at 12:00 PST. LOAN tokens will be airdropped at a ratio of 333:1 MTL (converted to XMT), and MTL holders are expected to deposit MTL tokens on the Proton Wallet, these MTL tokens will be automatically converted to XMT, and once a snapshot takes place, LOAN will be distributed at the 333:1 ratio. LOAN tokens are also available to XRP holders, and can be obtained via liquidity mining, and you can find out more here.
3. Rari Governance Token (RGT)
Rari Capital aims to deliver the best yield to all users with various risk tolerances. Rari offers yield aggregation, Fuse, tranches, and governance via the RGT token.
Why Rari? Clothing Co Drop V1.0 This Week
The Rari team are engaging in a unique drop this week involving digital and physical items. The team confirmed their SuperLimited Rari Drop v1.0 on June 14 at 12:00 PDT with the yield project launching a range of clothing items. The initial drop will see five items being made available with additional products expected to be added to the Drop catalogue in the near future. Fans of Rari should make sure to keep up with their social media channels and Discord group to find out about the latest updates, incentives, and planned protocol developments.
How did the coins perform last week?
The seven day period generally led to negative results across the market; and TRX fell by 11% and is currently trading at around $0.06. ICX declined by 22% and is currently trading at $0.89, and OGN fell by 24% over the week, and is currently trading at $0.71. Over the course of the week, the market moved from an overall valuation of $1.64T to $1.52T.
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