Market Analysis Report (05 Jul 2021)

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

The Graph (GRT) – The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data.

Synthetix (SNX) – Synthetix is a decentralized synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties.

Kava (KAVA) – The Kava Chain is a decentralized, permissionless, censorship-resistant blockchain built with the Cosmos SDK. The KAVA token is an asset on the Kava Chain, which is secured by its token it is used across the full chain as a transport and a store of value. It is given as a reward for minting USDX on the Kava app.

Source: https://www.cryptocompare.com/email-updates/daily/2021/jul/05/