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As we move through Q4, 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.
3. Avalanche (AVAX)
Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.
Why Avalanche? Apricot Upgrade Completion
Avalanche hit the headlines this week as AVAX bucked the downward market trend and grew by close to 50%. The performance has been on the back of a Coinbase Pro listing towards the end of September and possible speculation as a result of NFT NYC Conference over November 1-4. The team have also been working to complete their Apricot upgrades including implementing dynamic fees for smart contract transactions on the C-Chain, and adding governance to the P-Chain. The team are moving ahead with Apricot Phase 5 which brings dynamic fees, state pruning, and fast sync capabilities X-Chain, and finally completes the first major upgrade to Avalanche. The Blueberry Upgrade is set to follow which brings subnets to Avalanche and the performance of AVAX is one to watch over the coming week. You can find out more about the Apricot upgrades here.
2. Cardano (ADA)
Cardano is a blockchain led by former Ethereum veteran Charles Hoskinson and developed by the IOHK firm. The platform uses ADA as its native currency, and Cardano aims to be the next generation blockchain project and is slated to become a full-fledged smart contract platform with a library of protocols that developers can use to build decentralized apps.
Why Cardano? PAB Update Coming This Week
Following on from the Alonzo hard fork in September which launched smart contracts on Cardano, the team are working on their Plutus Application Backend (PAB) updates and are set to complete them over the coming week. The Alonzo protocol upgrade introduced Plutus, a platform with all the necessary infrastructure and tools to support smart contracts on Cardano, and the PAB is a component of the Plutus Application Framework (PAF) that enables developers to create and test DApps locally, before going on to deploy them live on a mainnet environment. The PAB update is set to be completed by the final week of November and you can find out all the latest developments on the Cardano 360 Show on November 25 at 16:30 UTC. You can also get up to speed with the PAB updates here.
1. Stacks (STX)
Stacks is a decentralized computing network and app ecosystem that uses the Bitcoin blockchain as a secure base-layer. The Stacks 2.0 blockchain brings apps and smart contracts to Bitcoin, and enables new ways to earn BTC.
Why Stacks? NFT Drops & ALEX Mainnet This Week
It’s a busy week for the Stacks team and it kicks off with the Pokinometry NFT drop on November21 at 9:00am (PST). Pokinometry is a vibrant collection of 250 poke bowls by visual artist Yannick Scott and will be followed by the World Class Hooligans Celestial NFT Collection from the artist Fuji. The drop takes place on November 26 at 9:00am (PST) and features unique NFTs from the young and aspiring graphic designer from Houston, USA. The ALEX platform enabling DeFi on Bitcoin via the Stacks network is set to launch its mainnet on November 27, as a result it’s a big week for Stacks and all STX holders can keep up to date with events here.
How did the coins perform last week?
The seven day period generally led to negative results across the market; and VET fell by 15% and is currently trading at around $0.1. However, EGLD jumped by 30% and is currently trading at $417, and LUNA fell by 14% over the week, and is currently trading at $42. Over the course of the week, the market moved from an overall valuation of $2.91T to $2.70T.