The US Securities and Exchange Commission’s (SEC) recent crackdown on crypto staking has sent a shockwave through the market, stalling the recent uptrend seen in the crypto market. However, there were some interesting crypto projects that experienced growth nonetheless.
In our weekly DIFX Pick, let’s take a quick look at the top crypto projects of this week:
The Graph was one of the top projects of the week in terms of gains. The Graph allows users to index and query any data that are stored on a blockchain system. Through Graph protocol, we can get access to blockchain data that is hard to read and access directly from the network itself.
At the moment, the protocol supports the Ethereum blockchain and multiple other platforms such as Polygon, Avalanche, and NEAR are in the Beta phase.
According to CoinMarketCap, The Graph (GRT) is ranked 40 in terms of market capitalization.
Lido DAO was the main project that experienced huge gains after the rumors about the SEC Staking Ban started spreading through the space. The Total Value Locked (TVL) of the platform is increased by 2 Billion over the past month.
Lido is a decentralized platform that offers staking options to cryptocurrency users. According to CoinMarketCap, Lido DAO (LDO) is ranked 29 in terms of market capitalization.
Casper is a smart contract platform that aims to boost the adoption of blockchain technology globally. Last month, Casper published its “The State of Enterprise Blockchain Adoption, 2023” report which revealed that more than 90% of companies in the US, UK, and China are beginning to use the technology in their businesses.
According to CoinMarketCap, Casper (CSPR) is ranked 89 in terms of market capitalization.
Rocket Pool is another decentralized staking platform that has experienced gains this week. The Total Value Locked (TVL) of the platform shortly touched 1 Billion. Rocket Pool provides staking options on the Ethereum blockchain.
According to CoinMarketCap, Rocket Pool (RPL) is ranked 83 in terms of market capitalization.
This week, Brave browser announced a new partnership with Solana which allowed it to support the blockchain’s DAOs on its iOS and Android applications. The Basic Attention Token (BAT) is the native token of the Brave advertising system which allows users to see ads while using the browser and earn BAT as rewards.
According to CoinMarketCap, Basic Attention Token (BAT) is ranked 92 in terms of market capitalization.
Crypto products are unregulated and could be highly volatile. Please be aware of the risks before investing.