03 Jul 2018 Radostin Spasov
Meet 2018’s Top 3 Market Cap Contenders: Binance Coin, Aeternity and Loopring
The majority of the coins have experienced challenging times. Only a handful of all cryptocurrencies have managed to thrive in the downward trending market.
Binance Coin (BNB) is leading the successful group, marking an increase of approximately 53% this year. The main reason behind the success is Binance Exchange’s referral program announcement - users who held 500 or more BNB are eligible to get double commission rate. This helped the coin reach the success as Binance is one of the largest and most successful exchanges. It is outperforming its competitors with high user loyalty and a generous rewards program. The exchange offers its users to pay trading fees with BNB and receive a 50% discount. Furthermore, Binance invests 20% of its profits generated during each quarter to buy back BNB and destroy them.
The second best market cap performer is Aeternity (AE), which is up by 44% this year. Aeternity aims to empower high-speed smart contracts and dApps by implementing off-chain scaling solutions. This aims to resolve a critical issue for blockchain adoption in the real world- the fast management of high transaction volumes. The success of the project is likely to make the blockchain disruption promise possible. Last month, the AE coin’s price increased as a result of the token’s listing on Bithumb.
The third contestant, Loopring, marks a 27% increase this year - a result of its 2018 roadmap release. The Loopring platform’s design allows the protocol to run on any blockchain and is launching multiple tokens to turn the concept into reality. The platforms currency - LRC coin, is Ethereum-based and has been deployed on NEO (LRN) and QTUM (LRQ). Furthermore, the crypto world turned its eyes towards the platform with the launch of the first decentralized exchange (DEX), based on the Loopring protocol - UOne.io.
The DEXs are winning the crypto community’s sympathy because of their higher hacker attacks resistance and minimized expected damage.