Kyber Network & Hedera Hashgraph Still Up Over 145% YTD

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Bitcoin Eyeing $11800 After Intense Drop

As we saw earlier today, Bitcoin started by declining from $11349 to $11176, roughly 1.76%.
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The world’s leading cryptocurrency is trading around $6,600 having jumped today as well. A spike in the price of bitcoin saw altcoins rising as well. But this time, the positive movement isn’t as pronounced as it usually is.

Looking at the YTD price performance of the top twenty cryptocurrencies, XRP is the biggest loser, down over 17% followed by Tron (TRX) -16.35%, and Stellar Lumens (XLM) -13.85%.

However, the popular cryptos that are still enjoying substantial gains in 2020 so far are Kyber Network (KNC) and Hedera Hashbar (HBAR).

Kickstarting Stagnant Crypto

The 54th largest cryptocurrency by market cap, Kyber Network is up by 160% year-to-date. This on-chain liquidity protocol is based on Ethereum which enables users to instantly trade between a wide range of token pairs.

For about the past two years, the KNC holders have been experiencing relatively stagnant growth, notes Glassnode. But in mid-February this year, the digital asset saw increased trading volume that bumped up the price and then Coinbase listed the token and the team announced quarter second as the release date for its Katalyst upgrade.

Currently, KNC is trading at $0.469, up 2.88% against USD. Besides price, as of March 16th, 50,437 addresses have been holding more than 1 KNC.

Coronavirus Tracker

The 38th largest crypto, HBAR is another big gainer which is down 1.28% in the past 24 hours but up 145% in 2020 so far.

The most recent development has been of its blockchain’s involvement in global pandemic Coronavirus (COVID-19) tracker.

Acoer CEO Jim Nasr is working on a data visualization tool for COVID-19 for real-time and trusted information on the novel coronavirus. The former Chief Software Architect at the Center for Disease Control in the Obama Administration is using Hedera Hashgraph to create trust in the data used in his tool.

He describes the blockchain in use as a way to “provide the public a tamper-proof transaction log of everything that has happened on Hedera.”

KNC and HBAR are leading the market but other large and mid-cap altcoins like Bitcoin SV (82%), Lisk (77%), Dash (60%), DigixDAO (53%), Steem (38%), Tezos (30%), and Link (22%) have also recorded decent enough gains on a year-to-date basis.

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