3 Cryptos To Watch This Month; Cardano (ADA), STEPN (GMT) and Logarithmic Finance (LOG)
The cryptocurrency space experienced a rollercoaster of events this past month ending the month with a market cap decline of about 17.34%. Despite this massive slump, some projects managed to keep their head afloat and also have great prospects for this new month. Logarithmic news…
There were some new cryptos that have been doing well so far and look like they will do well this new month. One of these cryptocurrencies is Logarithm Finance (LOG).
Cardano (ADA) is one of the biggest blockchains, ranking as one of the top ten on CoinMarketCap. Launched in 2017, it runs on the Proof of Stake (PoS) consensus mechanism which compared to the Proof of Work (PoW) is much less energy-intensive. So far, the network has delivered on its promises.
It offers lower transaction fees than Ethereum (ETH) and Bitcoin (BTC) which is probably what is responsible for it leading them both in terms of transaction volume. Also, according to DeFi Llama, the Cardano blockchain Total Value Locked (TVL) has grown by 65.73% in the past month.
Seeing as TVL is a measure of users’ participation on the blockchain, this will indicate that there’s been an increase in participation. That, together with its newer decentralized exchanges (DEXs) like WingRiders (WRT) can only mean good things for the network.
STEPN (GMT) is a Web3 lifestyle application with GameFi and SocialFi elements that runs on the Solana (SOL) blockchain. It belongs to a new category called Move to Earn (M2E) where users with NFT sneakers can walk, run or jog to earn the in-game currency GST. Move to Earn is a new concept that consists of various products and services that reward activity among its users.
The main goal is to improve fitness in the general public and help users to earn for being healthy. GMT is STEPN’s governance token and has a total supply of $6 billion. Sequoia Capital, a venture capital firm, invested in STEPN by purchasing $5 million worth of GMT in a seed funding round in January.
Coinbase, a cryptocurrency exchange, recently announced plans to list GMT and GST on their platform. Despite Move to Earn (M2E) being a relatively new concept, STEPN (GMT) is doing well and drawing attention to itself in the crypto trading world.
Logarithmic Finance (LOG)
Released in early 2022, Logarithmic Finance (LOG) is a next-generation layer 3 switching protocol created to allow a seamless connection between innovators and investors. The platform is a safe, noncustodial, multi-chain and cross-chain ecosystem with the opportunity for innovators to raise funding for their projects across various blockchain networks.
The networks available include; Ethereum (ETH), Avalanche (AVAX), Polygon (MATIC), Solana (SOL), and Tezos (XTZ) amongst others. They plan to apply the multi-chain and cross-chain integrations to promote multiple use cases aimed at expanding the network of investors and innovators on the platform.
Logarithmic Finance (LOG) has plans for an NFT marketplace that will be offered exclusively to its token holders. Innovators will be able to exchange their NFTs for payment in various cryptocurrencies and stable coins. They have also adopted a code structure that allows the blockchain to retain only very important information which makes an 80% reduction in gas fees possible.
LOG is the governance and utility ERC20 coin of the Logarithmic Finance network and it opens its holders to a myriad of benefits which includes better swap ratios, governance rights, staking rewards, and exclusive Pools Access, high yield investments among others. The project is currently in its presale which is an amazing time for investors to add it to their portfolios as it is at its lowest possible value.
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