While over the past few weeks we have seen all time highs be reached one after another, this week we have seen a fall in value across the market. The biggest example is with BTC, which ended the week at $45,480. That is a decrease of around 19% from the beginning of the week.
However, things were not all doom and gloom. As always, there were many altcoins that were able to shine these last 7 days. Today, the KUCOIN Blog will reveal to you three altcoins you should be keeping tabs on.
LUKSO (LYXe)
LUKSO is a blockchain infrastructure, which initially launched as KuCoin’s 6th Spotlight project. It offers the power and versatility of a public and domain-specific blockchain to apply standards and solutions for physical and digital consumer goods. The LYXe token is the Ethereum equivalent of LYX, which is the native token of LUKSO, being used to pay for transaction fees and staking to participate in block production.
The reason for LYXe’s inclusion today is due to numerous factors. First, was Crypto Fashion Week. LUKSO focuses heavily on the fashion industry, so it is only natural that they would play a prominent role in this event. LUKSO’s work with NFTs also allowed it to ride the wave of popularity of the concept that continues to grow. Otherwise, the recent news of the final block of the first-ever ReversibleICO being successfully mined further reflected the viability of the project. Together, these not only helped LYXe increase its value by 50x since listing, but also achieve a 63.9% 7-day ROI.
Trade LYXe and 200+ other altcoins on KuCoin.
Stacks (STX)
The aim of Stacks is to build a programmable Bitcoin, leveraging its power for the creation of decentralized apps and smart contracts. STX can be locked in consensus to earn Bitcoin, as well as being used as the fuel for Clarity smart contracts.
This week, STX shot up in value, ultimately achieving a new all time high. A lot of this increase in value is linked to the news that STX holders are now able to take part in delegated staking using Stacks Wallet, which will net them BTC rewards. Interest in BTC still remains high, so it is easy to see why users are eager to get their share. In the end, this has helped STX achieve a 15% 7-day ROI.
Trade STX and 200+ other altcoins on KuCoin.
Enjin (EJN)
What Enjin brings to the table is a suite of products and solutions that make it easy to develop, trade, monetize, and market with blockchain. The main purpose for Enjin’s cryptocurrency, EJN, is to directly back the value of next-generation blockchain assets in order to reduce inflation, promote trust, and maintain real-world value.
A couple of big factors have led to the growth of EJN over these last 7 days. Listings, including the inclusion of EJN on Crypto.com’s DeFi Swap has increased the accessibility and visibility of the coin. Likewise, NFT has been making the news and spurring the interest of those in the industry. Enjin offers non-fungible token functionality, so it was able to ride this wave of popularity, ultimately achieving a 1.1% 7-day ROI.
Trade ENJ and 200+ other altcoins on KuCoin.
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