According to crypto research and data firm Messari, the driving force in much of the altcoin market right now and over the past year is staking.
Staking is likely driving the parabolic rallies in Cardano, 0x, Kyber Network, and others.
According to Messari, a running theme through the recent crypto market action is staking.
Elrond rallied 639 percent in the three months leading up to its staking launch.
Zilliqa rallied 432 percent in the three months leading up to its staking launch.
Kyber Network rallied 206 percent in the three months leading up to its staking launch.
Cardano rallied 175 percent in the past two months and one week, and there's still three weeks to the staking launch.
Matic Network rallied 79 percent in the three months leading up to its staking launch.
0x rallied 45 percent in the three months leading up to its staking launch.
"In an industry starved for yield, staking is in high demand. And investors should pay attention to new staking as potential catalysts for price action."
Here's what triggered the parabolic surges in Cardano, Kyber Network, and Matic
Published on Jul 11, 2020
by Cryptoslate | Published on Coinage
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