Broad cryptocurrency market faces bearish alongside Bitcoin (BTC). However, during this time, 7 altcoins experienced a rise. Four of these seven top-earning coins appear to be part of the growing Cosmos Hub. This ecosystem currently uses the Inter-Blockchain Communication protocol (IBC) to facilitate interoperability and communication between connected networks. As Kriptokoin.com we provide the details…
These 7 altcoins are on the rise: Here’s the reason behind it
One of the top earners in the last 24 hours, chains became IRISnet, a cross-chain service center for decentralized applications that enables interoperability and provides businesses with modules to support running a distributed system. The spike in price and volume for IRIS has come with the upcoming launch of Uptick Network’s NFT ecosystem. The second-highest-grossing Secret Network (SCRT) came after film director Quentin Tarantino’s announcement that he would air NFTs from the popular Pulp Fiction movement on the Secret Network.
On the other hand, Akash Network (AKT); It follows the announced partnership between the network and CloudStack, a decentralized cloud aggregator that offers a portal to access any decentralized storage network, including Filecoin, Arweave, and Storj. Another rising altcoin, Cosmos is the underlying Blockchain protocol for the entire Cosmos Hub, which describes itself as the “internet of blockchains”. Apart from these, Everest (ID), Frax Share (FXS) and LGCY Network (LGCY) also experienced increases.