Alt Coin

Gaming Altcoin Built on Harmony Rallies Nearly 100% in Matter of Days While Bitcoin and Ethereum Remain Stagnant

One gaming altcoin constructed on the Harmony blockchain has rallied over 95% in the final seven days whereas the remainder of the crypto markets have remained stagnant.

Blockchain-based sport DeFi Kingdoms (DFK) is a brand new competitor in the GameFi area of interest, which mixes decentralized finance (DeFi) with the metaverse.

DFK gamers sport purchase non-fungible token (NFT) characters known as “Heroes,” which can be utilized to go on quests or adventures to earn extra tokens or upgrades.

At the core of the DFK’s economic system is the JEWEL token, which is used for purchasing in-game NFTs, staking and voting in governance. ONE, the native token of Harmony, is used for gasoline charges.

Data from analytics web site DeFi Llama shows that JEWEL’s dominance on Harmony, a blockchain centered on powering a decentralized economic system, is now at 58.82%. The gaming altcoin accounts for $343.98 million of the blockchain’s $584.2 million in whole worth locked (TVL).

DeFi Kingdoms additionally ranks because the sixth-biggest blockchain sport in the final 30 days, in response to DappRadar. Over the previous month, the mission hit over $894 million in quantity, which represents the entire quantity of incoming worth to the decentralized app’s good contracts. The sport additionally attracted 241,210 new customers over the identical interval, representing a rise of 466%. 

JEWEL has carried out as an outlier to the broader crypto markets in the final seven days, almost doubling in price whereas Bitcoin, Ethereum and others traded sideways or trended down. JEWEL went from a seven-day low of $6.47 on December thirteenth, to smashing an all-time excessive of $12.80 by December twentieth for good points of 97% in per week.

At time of writing, JEWEL is valued at $11.12, about 13% off its all-time excessive.

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Featured Image: Shutterstock/KeremGogus/Vladimir Sazonov

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