Max E.Tue, Mar 22, 2022 5:00 PM
ALGO, EGLD & HNT: 22 March Price Digest
Despite a “quiet” Monday, BTC rose by 3.7% on Tuesday morning and firmly entrenched above the $42K resistance level at $43,000. It seems that such a strong momentum has affected ETH and most of the major altcoins.
At the time of writing, the price of ALGO is $0.8396. Over the last 24 hours, the price of the asset has increased by 9.77%. The key growth factor is the active development of the project.
On Tuesday it was revealed that the project plans to implement a series of upgrades: increase the speed of the network ten times and strengthen its privacy, as well as develop allowed co-chains with a decentralized bridge between the chains. Such co-chains will allow developers to make ecosystems independent from the main project blockchain and can be used for central bank digital currencies.
On March 21, the head of Elrond announced a strategic partnership with Singapore-based cryptocurrency exchange MEXC Global. Partners will support projects in the Elrond ecosystem by providing access to new markets in over 200 countries.
Earlier in March, the blockchain project acquired the Romanian payment company Twispay, which, with the approval of the country's central bank, will issue digital money.
Over the past 24 hours, the price of EGLD has increased by 10.42% to $185.27. Positive price dynamics continued throughout the past week: the price of the token increased by 31%.
At the time of writing, the price of HNT is $24.24. Over the last 24 hours, its growth amounted to 9.86%.
Recently, the development team behind the decentralized telecommunication project has been receiving more attention.
In February 2022, it held a $200 million funding round (project’s representatives declined to comment on relevant crypto media reports). Thanks to this, the startup’s valuation reached $1.2 billion. In August 2021, the project raised $111 million from a number of venture investors during a token sale.