• The cryptocurrency market has bounced back, with a reduction in volatility and many top coins posting gains.
• Kava (KAVA) is leading the pack due to its recently launched incentive program, Kava Rise.
• Aptos (APT) has emerged as the second biggest gainer of last week.
Crypto Market Rebound
The cryptocurrency market has seen a rebound over the past week, with prices skyrocketing one moment and plummeting the next. As of March 13th, the total market cap stands at an impressive $1.01 trillion and there has been a reduction in overall volatility. Many of the top coins posted gains despite recent bearishness, indicating that investors are feeling more confident about their investments.
Kava (KAVA), the cross-chain decentralized finance (DeFi) lending platform, has been making headlines thanks to its remarkable surge in value over the past week. The kava token has defied the odds, gaining over 32.47% in just seven days alone and trading at $1.05 as of March 13th. One of the reasons for such success is Kava’s innovative incentive program – Kava Rise – which is aimed at onboarding developers across DeFi, GameFi, and NFT verticals to the Kava Network via a unique funding model that allocates 62.5% of all block rewards to these projects. Furthermore, Kava validators have been incentivized to migrate their cloud infrastructure to Akash Network; Akash pledged $1 million in AKT tokens towards this initiative too.
Aptos (APT) also experienced considerable growth over this period, with it being up by 56% over 7 days and reaching a price point of $0.0027 on March 13th according to CoinMarketCap data. This surge can be attributed largely to its integration into several popular DeFi protocols such as Synthetix and Compound Finance which have allowed users access APT tokens from within their respective platforms for staking or liquidity mining purposes respectively; this increased accessibility must have motivated users on Aptos thereby driving up its value further still. Additionally, Aptos’ recent partnership with Web3 Foundation also played a role here since it enables users access Polkadot-based protocols from within an Aptos wallet instead of having to use MetaMask or another web3 wallet provider; once again increasing both usability and accessibility of APT tokens among users worldwide thus driving up demand for them even further still!
Polkadot (DOT) recorded impressive gains too during this period – up 30% in just seven days – to reach a price point of $25 on March 13th according to CMC data; making it one of only two altcoins returning double digits returns during this time frame alongside Chainlink’s LINK token (+35%). It’s likely that these impressive figures were driven by Polkadot’s recent partnerships with various major organisations such as Microsoft Azure Cloud Services which will enable developers access Polkadot-based applications from their own desktop systems instead having them visit individual websites first before interacting with any related dApps/protocols etc.; thus greatly increasing overall usability & accessibility & thus driving up demand for DOT tokens even further still!
Chainlink’s LINK Token
The other big gainer was Chainlink’s LINK token (+35%), which reached a price point of $31 on March 13th according CoinMarketCap data; making it one out only two altcoins returning double digits returns during this time frame alongside Polkadot’s DOT token (+30%). It is likely that these impressive figures were driven by Chainlink’s various partnerships including those with major organisations such as Google Cloud Services which would enable users access Linked smart contracts directly from within Google sheets without needing any additional coding knowledge or experience required beforehand; significantly increasing usage & overall adoption rate amongst developers worldwide whilst simultaneously boosting demand for LINK tokens even further still!