3 Altcoins To Keep Tabs On — RNDR, ANKR, CAKE | KuCoin Weekly Review Issue #14
As things go, the last 7 days have been pretty standard. This past week saw BTC maintain its position above the $50,000 mark, reaching a low of $50,455 mid-week before rising back to $56,541 by the weekend. A quick look at ETH shows a similar story, dipping down to $1,541 before pulling itself back up to $1,725 by the end of the week.
Looking towards the wider altcoin market, we have identified three of the most interesting options available, providing an overview and helping you keep tabs on what is going on.
Render Token (RNDR)
Render Token provides a network of compute power for the purpose of rendering. Users are able to tap into the latent power of devices such as GPUs to ramp up their rendering capabilities, making it easier to create animation, 3D design, and video creation on lower-end hardware. The RNDR token enables access and payment in this network.
KuCoin recently listed Render Token in the past few weeks, which has helped the token reach new heights by exposing it to a wider audience. It was also listed on Huobi and MXC too. Beyond that, Render Token has close ties with the NFT market, enabling 3D artists to create their own crypto art. As such, it has enjoyed the massive explosion in interest the technology has experienced, helping RNDR achieve a 192% 7-day ROI.
Trade RNDR and 200+ other altcoins on KuCoin.
Ankr is a distributed computing platform, created with the purpose of simplifying the creation of Web3 through an infrastructure of blockchain nodes, APIs and more. Through reduced cost and the provided Ankr protocol marketplace, the project is democratizing Web3 development. The ANKR token is used for payment on the platform, and plays a central role in the decentralized staking protocol.
The big news this week for ANKR was its listing on Coinbase Pro, a major player in the cryptocurrency exchange market. This helped boost its recognition amongst users while making it easier to access. On the development side, the project announced its support for the Chromia mainnet, while also releasing new APIs for L2 solutions, a major milestone that provides further application for DApps and the like. All this helped the ANKR token achieve a 133.6% 7-day ROI.
Trade ANKR and 200+ other altcoins on KuCoin.
PancakeSwap is a Binance Smart Chain-based DEX and automated market maker. It enables users to exchange tokens, specifically of the BEP-20 standard, and participate in yield farming in order to provide liquidity and earn fees. CAKE is used for governance of the platform, and can be farmed and staked.
The trading volume on PancakeSwap increased dramatically in the past couple of months. In the past week, the total value locked on the platform exceeded $6 billion which is a great reflection on the usage of the platform. Numerous new tokens like ZIL have been integrated with the chain and so have become available on PancakeSwap too. Add to this the news of the platform surpassing rival Uniswap in a number of different metrics, and it is clear to see why Cake achieved a 59.7% 7-day ROI.
Trade CAKE and 200+ other altcoins on KuCoin.
Investing in cryptocurrency is akin to being a venture capital investor. The cryptocurrency market is available worldwide 24 x 7 for trading with no market close or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin is not liable for investment gains or losses.
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