The hot altcoin cluster is celebrating the New Year, with major price breakouts and the top two crypto assets leveling off.
Frax Share (FXS) is the governance token of the Frax Stablecoin Protocol, which aims to fund algorithms instead of fixed-supply digital assets.
FXS is used to generate fees, seigniorage income, and excess collateral value. At the time of writing, FXS has risen 16.65% and is trading at $ 38.20.
Tomb Shares (TSHARE) stands for Tomb Finance (TOMB) with a graveyard theme and is fixed to the smart contract platform Fantom (FTM).
The project aims to act as a “mirrored liquid asset that can be moved and traded without restrictions while benefiting from the rising prices of native FTM tokens”.
TOMB trades for less than $ 3.00, but TSHARE’s price has skyrocketed from $ 14,000 to $ 24,000, with a current price of $ 23,711.
The decentralized options exchange Dopex (DPX) is also rippling, jumping from $ 1,590 to $ 2,785 in a few days.
DPX is a governance token that not only gives owners voting rights, but also generates fees and other forms of revenue. Altcoin is up 7.22% to $ 2,822 on the day.
Also enjoying a good start in 2022 is PLEX, a native token of the crypto bank ecosystem MinePlex, which combines traditional finance with blockchain technology.
The price of PLEX jumped from $ 0.98 to $ 1.82 in just four days, jumping 85%. At the time of writing this, PLEX is changing hands for $ 1.71.
Focused on artists and creators, LIT calls itself “a token that serves no purpose until it’s realized”, earning about 150% profit in less than a week, from $ 0.002 to $ 0.005 2. Achieved more than double the value.
The privacy-focused smart contract Railgun (RAIL) jumped from $ 1.60 to $ 4.20 with a 162% profit in just three days.
According to the project’s website, railgun users can remove their wallet addresses from actions and transactions on the blockchain. This information is usually visible to anyone.
“Railgun users can enjoy privacy in any way they like, including transfers, trading, using leverage platforms, adding liquidity, and using decentralized applications (DApps).”
RAIL has been slightly modified and is currently worth $ 3.88. DeFi Protocol Ribbon Finance (RBN) aims to bring structured products to the cryptocurrency market. RBN runs from $ 2.10 to $ 4.15 and is currently $ 3.79.
Bitcoin has fallen 9% in the last 7 days and Ethereum has fallen 5.7%.
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Featured images: Shutterstock / lassedesignen / Natalia Siiatovskaia