Three Altcoins Experience Significant Gains
On January 16, three altcoins, namely Chiliz, Klaytn, and Blur, emerged as the top gainers in the cryptocurrency market, according to CoinMarketCap. Chiliz (CHZ), provided by a FinTech company based in Malta, has become popular as a digital currency for sports and entertainment. Currently sitting at $0.1053, Chiliz has experienced a 15% increase in value. In addition to its daily gains, Chiliz has also seen a remarkable weekly growth of 28.1%, outperforming the overall cryptocurrency market that has been on a decline.
Chiliz’s Price Surge
The recent surge in Chiliz’s price can be attributed to the upgrade of the nodes on the Chiliz chain on January 12. Although there haven’t been any major announcements in the past 24 hours, this upgrade likely contributed to the price increase.
Klaytn’s Price Performance
Klaytn (KLAY), another altcoin that utilizes Layer 1 (L1) technology, has experienced a 17.5% gain on January 16. This surge in price can be credited to a joint proposal submitted by Klaytn Foundation and Finschia Foundation to merge their blockchains. If approved, this merger will establish a powerful web3 technological and ecosystem force in Asia by combining South Korea’s leading blockchain with Japan’s.
Blur Emerges as Third Top Gainer
Blur (BLUR), the native token for an NFT marketplace and aggregator platform, takes the third spot with a 15.3% gain. Lookonchain data reveals that nearly 50 million BLUR tokens were unlocked on January 16 as part of a scheduled monthly event. Historically, six out of eight instances of unlocking have been favorable for the asset.
Hot Take: Altcoins Shine with Impressive Gains
Altcoins like Chiliz, Klaytn, and Blur have demonstrated significant gains in the cryptocurrency market. Chiliz’s popularity in sports and entertainment has propelled its value, while Klaytn’s proposed merger with Finschia Foundation has boosted its price performance. Blur’s emergence as a top gainer in the NFT marketplace showcases its potential for growth. As the crypto market continues to evolve, these altcoins are worth keeping an eye on.
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