The entire crypto market is going through loads of ups and downs for the past few weeks. While the major cryptocurrencies are still trying to hold their ground, new cryptocurrencies have made their way to the top 10 cryptocurrencies by market capitalization. Avalanche (AVAX) which has recently made its way into the top 10 has found its supports ragging a war against Ethereum Hodlers in Social Media. Zhu Su, CEO of a notable crypto VC company has also withdrawn his support from Ethereum looking at the project’s current condition. Read more on what made Zhu Su withdraw his support and what it means for Ethereum in the future, below.
Many Ethereum competitors have surged in the past year. However, crypto analysts now believe that we are soon to witness a rally of the Ethereum competitors. Among these coins, Harmony (ONE) is expected to lead the show. Read more on why crypto analysts are bullish on the Ethereum competitors below.
It is no hidden fact that Bitcoin has served as a boon for many small businesses during the hard times of the pandemic. One such happy Bitcoin story has recently surged out. A small family-based restaurant has earned 460% returns on its investments in the past year by investing all its profits from the business into BTC. The founders recently told a leading News media on how Bitcoin has helped them fight inflation during the pandemic and how investing their profits into the cryptocurrency has worked like a charm. Read more on this Bitcoin story below.
Before we dive into the latest happenings around the crypto space, let’s explore the top gainers and losers for the day.
Crypto Market Trend November 24, 2021
Top 2 Crypto Gainers
|Cryptocurrency||Price (latest by November 24, 2021)||Change in %|
|The Sandbox (SAND)||₹431.15||5.84%|
*Prices are latest by 10:30 AM, November 24,2021.*
Top 3 Crypto Losers
|Cryptocurrency||Price (Latest by November 23, 2021)||Change in %|
|Shiba Inu (SHIB)||₹0.002788||21.95%|
*Prices are latest by 10:30 AM, November 24,2021.*
Crypto Updates Nov 24, 2021
The scaling wars around Ethereum are raging in Social media due to various problems faced by the chain concerning Layer one (L1) fees. A notable crypto VC company’s CEO, Zhu Su announced his withdrawal of support from the project. He also criticized the current state in which the chain is. On the other hand, Emin Gun, CEO of Ava Labs, the organization behind Avalanche is bullish on the growth of the cryptocurrency and the scalability of AVAX.
Read why users are a little disappointed in Ethereum and how high L1 fees of Ethereum are turning out to be a boon for Avalanche.
According to the Host of Crypto Bureau, a popular crypto channel, Ethereum competitors are up for a major rally and might spike up before the end of the year.
In one of the youtube videos hosted by crypto analysts Gully, tells his 1.66 million followers based on youtube that layer 2 protocol Harmony (ONE) could be one of the coins to head this competitor rally. Harmony is one of those blockchain protocols that focus on powering decentralized economies by helping the users to build marketplaces for both Non-fungible and fungible digital assets.
Many believe that Harmony is Ethereum 2.0 under a hood. Wondering if Harmony rally will take place or not? Read more on the Ethereum competitor rally and take your own decision.
The restaurant chain says the Investment strategy of putting all profits to $BTC worked like a charm.
A small family-based restaurant chain in Canada, Tahinis, has been investing all their profits into bitcoin. This is a part of their strategy against inflation. And the results have been quite welcoming for the small business. The ROI has been around 460% as stated by the owners.
The founding brothers of this chain, Aly and Omar Hamam said to Business Insider that their exposure to Bitcoin has helped them face the soaring inflation during the Covid-19 pandemic. The first investment was made by the company in August 2020 and since then there was no looking back.
Want to read more on Aly and Omar’s investment journey and strategy? Read how this family-based restaurant chain earned 460% profits in Bitcoin.
CoinDCX lists three NFT tokens today. Find out more about these coins below and participate in the Listing Carnival.
Know your Coin Better
- Chiliz (CHZ)
|Chliz is a leading digital currency for the entertainment and sports sector.|
|This blockchain protocol operates Socio, a blockchain-based sports entertainment platform where users can actively participate in the governance of their favorite sports brands.|
|Every sports organization that uses the technology behind Chiliz has limited fan tokens offered during the FTO (Fan token offering).|
- Flow (FLOW)
|Flow is a fast, developer-friendly, and decentralized blockchain designed for the new age of apps, games, and digital assets.|
|It is the only layer one (L1) blockchain developed by a team behind great projects like Cryptokitties, NBA Top Shot, and Dapper wallet.|
|FLOW token powers the Flow network and is required for other applications within the network.|
- Wax (WAXP)
|WAX (WAXP) is a purpose-built blockchain that was released in 2017.|
|It was designed to make e-commerce transactions faster, safer, and simpler for all the parties involved.|
|The WAX blockchain is completely compatible with EOS using delegated proof-of-stake (DPoS) consensus mechanism. The custom features behind WAX optimize the blockchain utility specifically for use in E-commerce.|