PoS crypto tokens are having the time of their lives over the past seven days as most of them saw growth of more than 50% according to the data that we have in our latest altcoin news.
At press time, the sector increased by 5.17% on the day and it is up 16.69% over the past week. The price of coins like Solana, Cardano, Binance Coin, Elrond, Stellar, and the Graph increased from 30% to 50% signaling steady growth. In terms of daily gains, ADA, increased by 23%, SOL by 19.44%, and ATOM by 10.72%, becoming leaders in the top 10 PoS crypto tokens list.
For those who missed the update, Native Tokens are coming to the #Cardano main net end of Feb.
Let’s go $ADA! pic.twitter.com/HGRU4GpwXv
— Team Plutus | Cardano Stake Pool (@PlutusPool) January 29, 2021
Cardano was surging by 30% today and reached a new price of $0.45 which is a level not seen since January 2018. Its performance could be attributed to the recent announcement and the overall sentiment that the blockchain accumulated among the community. For beginners, Cardano developers announced that users will be able to launch their native tokens on the blockchain this month, and also the platform will become fully decentralized by March 31 once IOHK is able to delegate all control over the network to independent stake pool operators.
It was revealed that Solana is now focused on speed and scalability and will be used in a pilot project which will help cannabis businesses in Nevada use crypto to make purchases. Cosmos as well will receive a new update dubbed Stargate and will introduce various tools for native blockchain interoperability and will also be able to perform seamless and simple integrations with Cosmos-based decentralized applications.
1/ Band Protocol is thrilled to share our community update for January! We share our major milestones including 1,000,000 oracle requests on BandChain, technical improvements as well as our partners launching $BAND integrations into production.https://t.co/Gw5UbcOK5N
— Band Protocol (@BandProtocol) February 2, 2021
Unlike the energy-intensive Proof of Work blockchains like BTC, PoS networks don’t rely only on hardware power to mine new blocks. They allow users to stake their tokens and also maintain the security of the network. The popularity of the PoS blockchains is growing as well because it doesn’t require powerful and expensive systems to operate but allows users to earn rewards depending on the number of tokens and the time of staking. ETH is in the middle of a multi-year plan to switch from a PoW to a PoS algorithm.
As reported recently, The second-biggest cryptocurrency by market cap is in the middle of increasing to a new all-time high again as the altcoin market is cooling down. Ethereum rockets to $1500 as per the new data which is a new all-time high by all standards.
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