Stellar, CRO and FLOKI are in the red, but the news delivered by the crypto projects suggests a future with more sunshine than dark clouds.
Crypto price analysis of Stellar (XLM), Cronos (CRO) and FLOKI (FLOKI)
Crypto is known to be an ever-changing world, and so it is that excellent companies like Stellar, CRO and FLOKI are suffering setbacks that do not do them justice.
The crypto Stellar Lumens (XLM): negative performance shared with CRO and FLOKI
Following a good week that saw it rise 3.72%, XLM’s price today stands at 0.0855, losing 2.37%.
The fall that shows no sign of stopping seems to clash with the excellent news from the project side.
XLM upgrades the ecosystem, and this should point to a future in which the value of Stellar Lumens should grow.
Stellar, which is one of the oldest blockchains, aims to improve payment capabilities.
Not only a protocol upgrade but also a major launch for Stellar.
Soroban which is the link between Stellar Lumens and the DeFi using smart contracts is a platform that will breathe new life into the project.
Soroban will enable the creation of dApps that will serve Stellar users.
In total creative freedom, developers will be able to take advantage of Soroban and its possibilities to create DEXs, NFTs (non-fungible tokens) and oracles.
The only condition placed on developers who will make use of Sorben is to also contribute to the development of the Stellar ecosystem.
Stellar has asked creators to indicate the primary tool that developers will need to achieve the result.
According to the findings, the tools required can be summarized in three maCROs altogether i.e. public goods, core application functionality, and learning materials.
Public goods such as data analysis and monitoring can be for example SDKs and IDEs but not only.
Core functionalities on the other hand, such as Automated Market Maker (AMM), Stablecoin, wallet custodial etc. are among the most popular.
In terms of educational content there is a lot of focus on financial education and some sort of database on Soroban.
Smart contracts especially in legacy protocols are gaining momentum.
In addition to Stellar Lumens, Filecoin (FIL) is also exploring the opportunities inherent in Ethereum Virtual Machine (EVM) to become a smart contracts hub.
Cronos (CRO)
CRO is the token of the decentralized Cronos chain that boasts distinct green characteristics in consumption, speed and low fees.
Cronos’ natural habitat is Web3 programming, but also GameFi and decentralized finance.
Cronos, like Filecoin, supports EVM (Ethereum Virtual Machine) but also Cosmos.
Last year, Cronos lost about 90% of its value mainly due to the negative momentum following the failure of Terra Luna and FTX.
Corresponding to the aforementioned disasters, the price of CRO left between 40% and 50% in the field in 2022.
Last year fear dilated among investors who saw fraudster Sam Bankman-Fried as a major contributor to the loss of confidence.
Crypto.com, unlike other platforms, has always been solvent in the infamous counter rush and 2023 smiled on the exchange and token bringing good results.
Cronos has updated the blockchain with version 1.0 already in beta for two years and now renamed Galileo.
Galileo provides the ability to create dApps and develop DeFi with Solidity, plus it is compatible with EVM.
The transversality of Chain for programmers is very functional and certainly welcome.
This possibility results in the inflow of new capital to the parent company and its chain.
Galileo improves Mempool performance in terms of both TPS scalability and node storage as well as decreasing reaction time by 50%.
“The #Cronos Accelerator program is here to help your Web3 project succeed with the tools and resources you need! We are proud to introduce our first set of partners who will work alongside select teams to achieve new levels of growth and success.”
Accelerator is a quarterly plan that aims to attract capital, new developers and hype around the project for a bright future.
Cronos has put up $100 million for dedicated workshops and investments that will help Cronos get the right boost in 2023.
Cronos’ AMA was a key step in the interaction of players, funders and Accelerator insiders.
The project brings together start-ups that by connecting with the Cronos community will give the company the right boost to make up the ground lost last year.
After the success of Layer-2s, now, it seems to be the turn of Layer-1s, in which Cronos is a leading player.
Today CRO loses about 2% occupying the thirty-fifth position in market capitalization, a value that little reflects recent investments.
FLOKI (FLOKI)
FLOKI, the third largest meme coin by volume among those loving Shiba Inu dogs, rose to prominence four days ago.
According to reports from Binance, FLOKI has reportedly surpassed far more emblazoned currencies such as Bitcoin and Shiba Inu in popularity on the platform.
FLOKI was listed on KuCoin and since that day the token has started to soar to a +35% gain.
FLOKI has also been very successful among South American investors after being priced on NovaDAX, which is one of the most important exchanges in Latin America.
TVL is growing but on-chain activity is not, active addresses on the daily in fact declined in absolute terms.
Sentiment cooled equally with the exchanges, but this was to be expected after such a jump in the token.
The price of the token has tripled in the past thirty days, and the market capitalization has experienced the largest jump in the currency’s history.
FLOKI’s market capitalization has increased 276% in the past month according to the latest data.
This week, FLOKI’s price has retraced 19% and today the token is sporting yet another negative performance.
FLOKI’s price is 0.000046, down 4.90% from yesterday, with 8.917 billion units in circulation.
