With Bitcoin at the forefront of the alternative finance market and a price band between $ 9,000 and $ 10,000 that has outpaced volatility characteristic of bygone days, the markets have been fairly stable, with some notable projects during the pandemic.
For this reason, we bring in this post three solid projects that have generated a good performance in the last 3 or 4 months that the COVID-19 pandemic has lasted.
Although the list is not perfect, it was trying to take a series of foundations to be able to generate it based on the growth of currencies considering only in terms of USD, support by the community and interesting projects, time of stay greater than 1 year in space Blockchain and a constant average volume for the last 90 days.
Elrond Network -ERD-
The Elrond network is a public blockchain created to provide scalability, interoperability, and high performance. Its goal is to create a decentralized network that can provide the same or better performance compared to centralized networks, while providing users with greater privacy.
Elrond received his greatest endorsement of the BINANCE Launchpad program, the incubator arm of Binance Labs, which invested around $ 1.9 million in the project, realizing the team's immense potential.
According to cryptocurrency analysis firm LunarCrush, Elrond "ERD" has been in the past three months with an average galaxy score of 64 out of 100, a measure indicating strong penetration into the cryptocurrency community of a particular asset.
In addition, the price of the asset is currently around USD 0.0146, with a surprising positive change of + 1268.79% in the last months that the pandemic has lasted, going from a minimum of USD 0.00082 in March 2020 to the current price at the moment of writing this post.
Elrond's market volume as expected has also been an important catalyst for its surprising price rise. Since just over a million daily trade in mid-April 2020, ERD now has just over 33.25 million dollars in the last 24 hours, placing it with a market capitalization of almost 200 million dollars in the number 50 box of the ranking general of cryptocurrencies.
The ERD daily price chart at Binance shows that the Elrond price is trying to break an immediate resistance at the bullish Fibonacci levels of 78.6% located in the $ 0.0179 band, which for now seems to be being rejected for now.
With a support band between USD 0.0055 and USD 0.0085, the ERD price could reach the key level of USD 0.011 if the pullback we have observed is maintained and does not achieve the expected upward trend.
For now the technical indicators for ERD seem to indicate a correction in asset prices in the coming days, but not yet entering a downturn, as LUNARCRUSH points out in its altcoin summary board.
FileCoin
The project that aims to use the power of Blockchain technology to build a decentralized file storage service, is our second best performing asset in the pandemic.
While there are a few other projects similar to his philosophy, like SIA or Storj, the model proposed by FileCoin is backed by leading venture capitalists and led by a team of knowledgeable Blockchain tech that is highly respected in the ecosystem.
The proposed project model suggests that the network will use the free space available on the hard drives of any computer to store and propagate data.
With this behind-the-scenes philosophy, FileCoin's price has been widely supported during the past 120 days of the pandemic. With a price of USD 4.3 in March 2020 to a maximum of USD 36.07 on July 10, 2020, the asset has managed to appreciate up to + 838%.
On a technical level, the future of FileCoin seems to be aimed at stabilizing in the band of twenty dollars per unit, after passing through a volatility between the Fibonacci levels key to a trend break at 38.2 and 50 percent, this is between the USD 20.83 and USD 23,609 respectively.
For now, technical indicators seem to point to a price correction and downward trend for FileCoin in the coming days, with a wedge break currently formed at the key $ 20 level. If nothing extraordinary happens in the general cryptocurrency market, the asset could depreciate to $ 22 in the short term.
Matic Network «MATIC»
The Matic network built on the Plasma framework as a layer 2 scaling solution on Ethereum to address the problem of congestion and high fees on the most important Blockchain after Bitcoin, has had an exceptional 2020 in terms of development and use cases. refers.
Matic allows, through sidechains for computation outside the Ethereum main chain, to scale up to a tested maximum of 7,200 TPS for each sidechain, securing the assets using Plasma over Ethereum and its own decentralized network of validators under the Proof consensus mechanism of Participation «PoS».
Its main network launched less than two months ago and its staking system started at the end of last month, have allowed the native MATIC token to be highly productive during the pandemic.
Matic Network has been up to now together with Elrond and Celer Network, the best IEO projects of the incubator arm of Binance Labs to date.
Matic currently has one of the highest return staking systems «~50%» and strong support from his community that has managed to block over 19% of his total projected supply, some 619 million MATIC tokens.
Matic's team recently launched their rewards program to build apps on their core network, with an estimated $50,000 in prizes to be distributed.
Regarding its price, the Matic token has experienced a cumulative performance of + 81.5% in the last four months, with a market capitalization of around 80 million dollars and a daily volume of more than USD 15 million.
For now the price is around $ 0.0208 and your daily chart on Binance is showing a struggle not to fall into the drop zone below Fibonacci levels at 38.6%.
A downward breakout of this wedge could mean a sharp correction for Matic towards key targets like strong support below $ 0.020.
However, with its good fundamentals, the token could bounce back from this area and break higher towards the key resistance at $ 0.024 which already tried unsuccessfully twice a couple of days ago, allowing for thinking of bullish levels like those shown. in May of this year around USD 0.028.
