Top 5 Cryptocurrencies to Watch: Monero, Chainlink, Avalanche, Polygon, and VeChain this week

Monero Faces Uncertainty After Binance Delists Its Support

• Current price:$172.52
• Market cap:$3.1B

Monero (XMR) will find itself in new trouble after Binance announced that it would remove the coin from its offering because of how sensitive it is to privacy concerns. Such action is in line with the objectives of the company which is to bring more regulation into the system and avoid all forms of reputation risk. However, it seems that there are enough prices for Monero if the privacy needs grow to the ever-present privacy-protecting community. At present, the price of Monero is about 160.25 with the turnover during the last 24 hours being 85 million.

Chainlink(LINK) Place in DeFi Is More Solid Than Ever

• Current price:$10.59
• Market cap:$6.4B

Chainlink (LINK) comes as one of satisfactory oracles for smart contracts overall, developed as a Debank within the localized OVM layer with efficient arbitration through smart contracts. This feature is crucial in the functioning of several DeFi applications making Chainlink an integral backbone in the house of blockchains. Chainlink has its sights set on about $7. 80 percent of $300 million trading volume with regard to the fact that as DeFi becomes more adopted, the necessity of its functionality will also increase. The market share of Chainlink is further bolstered by the increase in the number of partnerships and linkages to other blockchain systems.

Avalanche(AVAX): An Alternative to Ethereum With A Flexible Design

• Current price:$22.30
• Market cap:$9.0B

Avalanche (AVAX) is rapidly gaining popularity among layer one blockchains in the course of competing to outdo Ethereum with efficient transaction speeds and enhanced scalability. Offering a unique architectural model capable of housing three different blockchains such as the X-chain and C chain, it has been very possible for Avalanche to endorse over 6500 transactions in a second while remaining scalable. Once the mainnet was rolled out in 2020, projects to its infrastructure such as Virtual Machines supporting Swal and TrueUSD have flown towards Avalanche. With enhanced connections established between Ethereum and Avalanche, the latter position enables it to command the future of the blockchain.

Polygon Actively Improves Content Creation Using Ethereum

• Current price:$0.4087
• Market cap:$4.0B

Polygon (MATIC) has recently taken the app publishers’ floor position for L2 scaling solutions, providing developers with all the necessary instruments for creating and scaling DApps. Being there in the form of Binance and Coinbase, Polygon utilizes its plasma technology and PoS technology to process 65000 TPS on one side chain. This kind of throughput along with speed of confirming blocks recommends polygon to developers who are developing applications and facing the limitations of ethereum handling capacities. In addition to the above crypto processes, the native Matic entails a token known as Matic.com which is the management token for Dapps funds and is also employed in the regulation of the blockchain networks.

VeChain’s Enterprise Solutions Drive Blockchain Adoption

• Current price:$0.02168
• Market cap:$1.7B

What sets VeChain (VET) apart in the sphere of blockchain technology is the technology’s attention to addressing the needs of the market. VeChain’s parent company was established in 2015 and has dynamically created a multipurpose IoT-supported blockchain based platform to tackle data issues in different sectors. Enterprises prefer VeChain’s blockchain which has a two-token mechanism (VET and VTHO) as this results in very low and predictable transaction fees. More innovative projects from the platform like the VeBetterDAO, show that the company aims at fostering the use of its platform through use of incentivized sustainable models. The company remains one of the leaders in the field of enterprise blockchain solutions owing to its inability to forget about the practical application of the technology.

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