CMC's Big Three (05/15)
This is going to be a new series that I want to do where I look at the top trending, biggest gainer, and biggest loser coins on CMC. Sometimes there will be overlap, in which case I will summarize the next one down on the list. A lot of this is going to be as a learning opportunity for me, so I can see what new projects may be gaining traction and what their purpose is.
Having said that, this will not be an in-depth look at each coin. Merely a quick look at what is going on in the crypto market.
Top Trending Coin - BTU Protocol
BTU Protocol was created as a reward providing software on top of Ethereum. Its aim is to provide companies with a way to connect to consumers and offer rewards for using their services or products with the BTU token. As it stands, there appears to be a big focus on booking software on the platform. A car rental dApp was recently launched in the Enjin dApp browser.
Their mobile app, Verso, offers users an opportunity to earn cash back by shopping at quite a few different vendors including Amazon, Under Armour, and eBay. Cashback rewards are paid out in BTU. From there it can be converted into gift cards, held, or sent to other users or addresses. There isn't a huge amount of information about the token itself available. It's available on a few different chains besides Ethereum, most notably the Matic Network.
The last few days have been pretty rough for the value of BTU. It is currently at .65 a token, which is a 6.25% 24 hour drop. It had an all time high of $1.42 about two months ago and hasn't quite hit that range since.
Other Trending: The Forbidden Forest (+173.26%, $0.08), ALLY (+285.60%, $0.006461)
Biggest Gainer - Jack Token Next up on the list is the top gainer in the last 24 hours, Jack Token. It is currently up 1125.17% with a value of $2.22. Jack Token has been around for about a year and hasn't had a lot of price movements up until just recently. On May 15th, it had a price of only twelve cents, so this is a massive jump up from there.
Jack Token is an adult entertainment focused cryptocurrency. The goal is to offer a sustainable way for everyone in all facets of the adult entertainment industry to be able to fairly and safely earn money. It offers incentives for both the service providers and those consuming content.
The whitepaper offers some insight into what they're looking to do with the platform, alongside the roadmap here. It seems to be an interesting premise in a sector that isn't always the safest or fairest.
The token is an ERC-20 token, and as such is available on the Ethereum network. Trading volume has gone up recently alongside the recent price increase, so it appears to be gaining some market traction. The roadmap is currently at security and server updates and is eyeing exchange listings, and more community opportunities.
Other Gaining: ALLY (+285.60%, $0.006461), HOPE (+260.16%, $0.003508)
Biggest Loser - Elena Protocol Elena Protocol leads the biggest loser list. A 24 hour price change of nearly 80% to the tune of -$192.40. The value just yesterday was $267 and now sits at $50. The all time high was a massive $682. However, these losses aren't necessarily as big as they may seem. It was only launched earlier this month, so correction is to be expected. However, a quick look at their Twitter reveals that there was a dump of 4k ELENA causing the massive crash. It is unclear how the price recovery will continue.
Elena Protocol utilizes their USE stablecoin. It is currently pegged 1:1 to DAI and offers many of the defining characteristics of several different stablecoins. More info on this found here in the docs. The Oasis Vault is the primary avenue for minting USE coins and vice versa.
Shelly protocol is the first in the ELENA ecosystem and provides hedging your market exposure and LPs. ELENA itself is the governance token of the protocol. The USE/DAI trading pair had a great standing in liquidity on Uniswap earlier, so there is some promise for the liquidity of the platform.
It is concerning, however, that their USE token is currently sitting at a value of .44 on CMC, showing there is still a lot of recovery that needs to occur to get back to where they need to be. Hopefully, it will go smoothly and we can see some more come out of Elena Protocol.
Other Losing: CY Finance (-61.11%, $0.000007), ElenaUSD (57.81%, .04163)
