Movers of the Day 8-Sep-2022

Tokens and coins that moved the most in the last 24 hours:

The day’s top movers are Golem and Polymath, soaring 88.02% since 7 pm. As illustrated by an adjacent chart showing the NWSBCT (Blue Chips) Index movement over the last 24 hours, the crypto markets have trended sideways. Since 7 pm, the 2100NEWS DA Indexes, which measure the performance of various groups of tokens and coins, reported gains between 0.55% and 1.40%. Over the past 24 hours, the 2100NEWS Digital Assets Total Index (NWST1100), which measures 1100 significant (by market capitalization) crypto assets’ performance, has risen by 0.37%, while Bitcoin has fallen by 0.10% and Ether by 0.25%.

Please read the notes to find out which criteria have been selected.

Polymath (POLY)

The Polymath Network is a blockchain-based system to coordinate and incentivize participants to collaborate and launch financial products on the blockchain. The Polymath team aims to create a standard token protocol that embeds defined requirements into the tokens themselves to ease the primary issuance and secondary trading of blockchain securities tokens.

The crypto markets trended sideways. The top mover of the day at 19:10 is Golem increasing 71.67% since 2 pm. QuarkChain has increased by 8.28%, and Router Protocol by 8.77%. Over the last 24 hours, 2100NEWS DA Indexes, which measure the performance of different groups of tokens and coins, have increased up to 3.12%. 2100NEWS Digital Assets Total Index (NWST1100) is 2.85% higher. Bitcoin has increased by 1.45%, Ether 5.03%.

Golem (GLM)

Golem is a decentralized marketplace for computing power. It enables CPUs and GPUs to connect in a peer-to-peer network, enabling both application owners and individual users (“requestors”) to rent resources from other users’ (“providers”) machines. These resources can be used to complete tasks requiring any amount of computation time and capacity. Nowadays, centralized cloud providers control these services, and these platforms are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Golem proposes an open-source, decentralized, and user-controlled alternative.

The day’s top movers (at 2 pm) are Synapse and TerraClassic. QuarkChain has risen by 18.05% since 9 am. The crypto markets rebounded. In the last 24 hours, 2100NEWS Digital Assets Total Index (NWST1100), which measures 1100 significant (by market capitalization) crypto assets’ performance, has rebounded by 4.54%, Ether even 8.02%, and Bitcoin by 3.02%.

QuarkChain (QKC)

QuarkChain aims to provide a secure, decentralized, and scalable blockchain solution to deliver 1,000,000+ on-chain TPS (transactions per second). The main features of Quarkchain are its reshardable two-layered blockchain, collaborative mining, horizontal scalability, cross-shard transactions, and streamlined account management.

The crypto markets sharply rebounded. The day’s top movers (at 9 am) were Helium and TerraClassic, rising by 11.57% since midnight. Over the last 24 hours, the 2100NEWS Digital Assets Total Index (NWST1100), which measures 1100 significant (by market capitalization) crypto assets’ performance, has rebounded by 4.03%, Ether even 7.04%, and Bitcoin by 2.44%.

Terra Classic (LUNC)

Luna Classic is the first native token of Terra blockchain, released in August 2018. LUNC existed before the launch of the new chain — now branded Terra (LUNA) — and works with the original code of the Terra ecosystem. The primary function that the native token performed was to absorb the price deviation of the algorithmic stablecoin — $UST. The price of the UST stablecoin was pegged to the US dollar by minting and burning UST tokens to balance the supply and demand of the coin. In May 2022, UST lost its peg and collapsed. The UST stablecoin algorithm created trillions of LUNA tokens, fell into a hyperinflationary spiral, and reduced the value of the original LUNA token by 99%.

Terra (LUNA) and Terra Classic (LUNC) have the right to exist due to the implementation of a proposal called Terra Ecosystem Revival Plan 2. The essence of the plan is to split the current blockchain through forking,  creating a new chain in the ecosystem, and preserving the previous version. According to the recovery plan, the existing chain and token have been rebranded as Terra Classic. The new LUNA tokens were airdropped to existing holders of LUNA and UST before the depeg, and the subsequent crash occurred.

Helium (HNT)

Launched in July 2019, Helium is a decentralized wireless network that allows low-power smart devices to send and receive data to the internet. Miners earn HNT for providing network coverage and relaying data to the internet using Hotspot hardware.