CMC's Big Three (05/16)
A quick look at the top three cryptos in Coinmarketcap's spotlight. This includes the Top Trending, Biggest Gainer, and Biggest Loser. This series is by no means an in-depth look at each entry, but a quick overview to get an idea of what each does.
Top Trending - Function X
Created by Pundi X Labs, Function X, f(x), is set to be a total blockchain solution. Every part of the platform will exist on the blockchain and consists of five main elements. These elements are the f(x) operating system, f(x) blockchain, f(x) FXTP, f(x) docker, and IPFS.
Besides the blockchain, the operating system is the heart of the ecosystem. It allows for the building of dApps on a modified Android OS and the docker makes the process even easier. FXTP is the transmission protocol, and the IPFS sets the stage for file storage on the chain.
Users holding some of Pundi X's other crypto venture, NPXSXEM, can stake their holdings to earn some of f(x)'s native currency, f(x) coin. They have already demoed a few different dApps that are slated to be launched and the Mainnet is currently in the works and being tested. Their FAQ page holds a lot of answers to any questions people may have about it.
Ever since mid-April, the coin has seen a few spikes in value and is now sitting fairly steady at $0.70 with a 24 hour price change of +17.40%. Kucoin has the highest trading volume right now for people interested in it.
Other Trending: Uniqly (+60.20%, $5.02),BeeSwap(-6.43%, $2.06)
Biggest Gainer -HummingBird Finance
Hummingbird Finance (HMNG), is a static reward token on the Binance Smart Chain. Like a few other projects that have popped up this year, it imposes a 3% tax to every transaction. This tax breaks down to 1.5% being distributed to current holders, and 1.5% is burned forever.
It is still in very early stages but the roadmap has a DeFi app in the near future alongside an AMA from the team to help build trust and answer questions. Near Q4, the team is looking to have the token listed on major exchanges. As of right now, it has its home on Pancakeswap.
Another notable aspect of the token is that it is driven to help hummingbird populations around the world. As such, it regularly contributes to donations to relevant charities.
With a recent launch, there isn't a lot of time for the token to gain a lot of value yet. It currently sits well below $0.00000001 but is slowly making its way up.
Other Gainers: NextDAO (+390.67%, $0.0145), ALLY (+301.99%, $0.02774)
Biggest Loser - Galatasary Fan Token This one was a relatively easy one to look into and I don't have much information to offer about it. It is a Galatasaray S.K football club fan token on the Chiliz platform. Just 24 hours ago the token was worth about $30 but has since seen a dramatic drop of -57.96% down to $11.13.
Chiliz offers a platform for sports fans to participate in the ownership and governance of some of their favorite teams. The platform saw a lot of growth during the NFT boom and is still running relatively strong even after things have died down a little.
Other Losers: ElenaUSD (-59.48%, $0.1684), Ethanol (-57.66%, $43.80)
