Bitcoin price is consolidating its rebound at the moment but this hasn’t stopped some selected Altcoins from clinching new all-time highs. While Bitcoin consolidates in the range between $53,966 and $56,640, Altcoins such as AscendEX (BitMax), Filecoin (FIL), Nervous Network (CKB), Holo (HOT), Kusama (KSM), and BitTorrent (BTT) has risen to new all-time highs.
AscendEX (BitMax) Token
AscendEX (formerly BitMax) is a global digital asset financial platform founded by a group of Wall Street quantitative trading veterans in 2018. AscendEX offers trading services across over 200 trading pairs across cash, margin, and futures products.
In the last few months, native exchange tokens have exploded in value in recent months, alongside the wider cryptocurrency markets. Cryptocurrency exchange tokens fulfill a variety of important roles for the platforms they operate on. For one, they can increase both liquidity and trading activity. Exchange tokens are also used to provide fee discounts as well as rewards for traders and users. In Mar. 2021, BitMax officially rebranded to AscendEX. AscendEX (BitMax) rose to new all-time highs of $3.26 on Mar. 27, up by 56.36% in the last 24 hours and 106.91% on a 7-day basis.
Filecoin (FIL)
The price of Filecoin’s native FIL token rose to a new all-time of $139.48 on Mar. 27. Filecoin has rallied by 25.70% in the last 24 hours and 53.03% on a 7th-day basis. FIL is now the 16th largest cryptocurrency, with a market capitalization of $7.8 billion.
The demand for scalable blockchains with larger capacity is on the increase due to the high fees on Ethereum and the increasing interest in layer-two technologies. Filecoin is slightly different from other layer-one blockchain protocols in that it is a peer-to-peer network specifically designed for file storage with built-in economic incentives to ensure files are stored reliably over time.
On Feb. 16, Colin Evran, ecosystem lead at Filecoin, said that the Filecoin ecosystem reached 2.5 exabytes of storage capacity — a “pivotal moment” for the blockchain.
Kusama (KSM)
Kusama is an experimental interoperable blockchain platform dubbed as “Polkadot’s wild cousin” due to having a similar codebase. The protocol is built on Substrate, the developer kit/framework for the Polkadot blockchain, and designed to be an interoperable, scalable framework for developers.
Projects that eventually want to launch on Polkadot have the opportunity to launch on Kusama first to test how their protocol will operate in the wild and to access features that are not available yet on Polkadot.
Kusama’s recent rally alluded to the hype around the upcoming para chain auctions for both KSM and Polkadot’s DOT. With the exact date of the para chain auctions still unknown, excitement in the communities is likely to continue to build as quality projects vie for the limited para chain slots and attempt to become central pieces in the Kusama and Polkadot ecosystems. Kusama rose to new all-time highs of $504.64 on Mar. 27.
Nervous Network (CKB)
The Nervous Network describes itself as an open-source public blockchain ecosystem and collection of protocols. The Nervous CKB (Common Knowledge Base) is layer 1, proof of work public blockchain protocol of the Nervos Network. It reportedly allows any crypto-asset to be stored with the security, immutability, and permissionless nature of Bitcoin while enabling smart contracts and layer 2 scaling.
The battle for Layer 2 dominance between tokens that function as Ethereum alternatives is clearly where retail investors are placing their attention and this is what will drive the next Altseason. Nervous Network (CKB) rose to new all-time highs of $0.02925 on Mar. 27 while making an entrant into the top 100 crypto assets by market capitalization.
Holo (HOT)
Holo is a peer-to-peer distributed platform for hosting decentralized applications built using Holochain, a framework for developing DApps that does not require the use of blockchain technology. The Holo network relies on a series of hosts that provide storage and processing power for DApps built using Holochain.
Ethereum is currently facing scalability issues and becoming very hard to use. The current issues experienced in Ethereum are opening doors for others to become popular alternatives. HOT rallied to new all-time highs of $0.01134 on Mar. 27.
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