Strong fundamentals and new partnerships back the strong rallies in Morpheus Network, Bridge Mutual and Reef Finance.
As new institutional and retail investors enter the cryptocurrency space on a daily basis, large-cap top performers like Bitcoin (BTC) and Ether (ETH) attract the lion's share of investor's attention as they are the well-known 'secure' blockchain projects.
Once these new investors get a taste of the mainstay cryptocurrencies and how to navigate the volatile markets, their attention soon turns to smaller cap coins as they search for the up-and-coming projects that could be the next big thing.
Currently, CoinMarketCap shows that there are 8,475 tokens and more are added daily. This makes it difficult to keep up with the latest developments and find solid projects with real-world potential.
With that in mind, here are some interesting projects that have been gaining strength over the past few weeks.
MRPH/USDT
Morpheus Network (MRPH) is a blockchain platform focused on logistics and supply chain optimization through the use of its SaaS middleware platform which is integrated with emerging technologies.
Supply chain managers are able to use the platform to create a digital representation of their network as information collected is transformed into actionable data, with all steps in the supply chain being notarized on the Morpheus blockchain.
MRPH was trading at a price of $0.412 on Jan.15 before an influx of trading activity lifted the token more than 920% to a high of $4.44 on Feb.8.
The rapid rise in price was due in part to the fresh attention the project received from several well-known YouTube influencers and recent verifiable MRPH partnerships, such as China’s Qingdao Maple Leaf International Trading Co. and the possibility of a partnership with Coca-Cola in Latin America.
Speculations aside, the Morpheus platform currently has more than 100 integrations with industry-leading service providers including DHL, FedEx, SWIFT, Oracle, and Salesforce. With significant real-world partnerships and the attention of cryptocurrency influencers, MRPH has strong fundamentals and is likely to gain more attention from investors.
BMI/USDT
Bridge Mutual (BMI) is a more recent arrival to the decentralized insurance space but it has quickly garnered the attention of investors.
The insurance platform offers coverage for stablecoins, centralized exchanges and smart contracts. It also allows users to provide insurance coverage, determine insurance payouts, and recie compensated for taking part in the ecosystem.
BMI’s initial decentralized exchange offering (IDO) was conducted on Jan. 30 with a token price of $0.125 and it was first listed on Uniswap for $1.03. Since listing, BMI has rallied by 540% to a high of $5.46 on Feb. 3. Currently, BMI trades at $3.24 following the downturn in the market that began on Feb. 21.
Decentralized insurance has thus far been dominated by Nexus Mutual (NXM), but BMI’s arrival offers a fresh challenger to a field with growing demand due to the risky nature of investing in DeFi platforms.
REEF/USDT
Reef (REEF) is a Polkadot-based DeFi platform that aims to offer cross-chain trading powered by a yield engine and smart liquidity aggregator that enables automation of the exchange process.
One issue Reef developers hope to provide a solution for is high gas fees on the Ethereum blockchain that are currently making DeFi unusable for many community participants. The team also hopes to help connect liquidity pools from separate networks, avoiding the need for multiple accounts which can be difficult to keep track of.
Work on the project began in the second half of 2020 with the completion of its IDO on Sep.30. Following its listing on Binance and Uniswap in late December of 2020, REEF price bottomed out at $0.0067 on Jan.13 and has since increased more than 750% to a high of $0.054 on Feb.11.
DeFi remains one of the hottest growth areas in the cryptocurrency sector and Reef is well-positioned to capitalize on its continued growth. As the Polkadot ecosystem grows its user base and provides solutions that provide relief from high Ethereum transaction costs, cross-chain functionality projects like Reef stand ready to benefit as decentralized finance goes mainstream.
from Cointelegraph.com News https://ift.tt/3syaYOP
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