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Top 3 Coins to Watch June 22 - June 28, 2020

4y ago
bullish:

10

bearish:

6

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The top 3 coins to watch this week

As we move closer to Q3, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.  

1. DigixDAO (DGD) 

DigixDAO, a project that was created in 2016, is currently in the process of dissolution. As a result, holders of the DigixDAO governance token DGD, which no longer has any utility, can exchange their tokens back for ETH.

Why DigixDAO?   

The team have announced that anyone who participated in locking up their DGD tokens on the governance platform only has until June 22 to unlock their tokens. Due to a bug in the DigixDAO contracts, any unlocked tokens will be lost and become unable to be unlocked after June 23. In addition, token holders will be required to perform multiple withdrawals in order to gain access to all their tokens. The team outline the full details here for anyone needing to obtain tokens from the DigixDAO contract. 


2. Beam (BEAM)

Beam is a scalable, fungible, and confidential cryptocurrency based on the Mimblewimble protocol. The privacy coin allows more control over anonymity and all transactions are private by default, and no addresses or other private information are stored on the blockchain. Beam also supports opt-in auditability, as well as support for online and offline transactions, atomic swaps, and hardware wallets. 

Why Beam?   

The project it set to go through its second hard fork at Block Height 777777, and this is projected to be reached on June 28. As a result, the Proof of Work (PoW) algorithm will upgrade from BeamHash II to BeamHash III, and compatible releases of node, wallet, and miner software will be versioned Eager Electron 5.0.

All users are required to upgrade their software to the latest version as wallets released before version 5.0 will stop working and no longer allow users to access their funds. The upgrade also allows GPU miners to participate more significantly in mining BEAM, and the team outline all the necessary steps to prepare for the hardfork here.  


3. Polymath (POLY) 

Polymath enables financial securities to migrate to the blockchain and allows a variety of assets such as real estate and equities to be tokenized. Polymath also looks to actively trade securities tokens and is working to establish dominance in the area.

Why Polymath?  

The project is set to launch its Polymesh Testnet V1 on June 23, and the testnet also known as Aldebaran will implement a new Nominated Proof-of-Stake (NPoS) algorithm which brings absolute transaction finality to blockchain-based security trading. The Aldebaran permissioned chain will enable test staking with staking rewards and minting of new POLYX tokens depending on the amount of POLYX staked, and the balance of the network treasury, and the team outline their testnet in their official Medium blog post.  


How did the coins perform last week?  

The seven day period generally led to disappointing results across the market; although MATIC outperformed the majority of coins and made a 10% gain and is currently trading at around $0.02. Bancor and Ardor both recorded marginal gains of 2 and 1 percent, respectively. The total cryptocurrency market cap moved from $260B to $270B (+3.8%).

4y ago
bullish:

10

bearish:

6

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