Post-Christmas market recovery: Polymath (POLY) leading the way ahead of Tron (TRX) and ChainLink (LINK)

After reaching $146 billion on 24th, the whole market took a dive and trimmed $18 billion to drop to the weekly low of $127 billion on 25th before bouncing back up to the current $131 billion.

The modest push to the north was led by Polymath, a platform that aims to be “Ethereum for security token offerings”. POLY gained 29% in the last 24 hours and is currently valued at $0.17 which is still 88% down from its ATH. However, Polymath is one of the rare cryptoassets that is up by 3% on the 90-days timescale.

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Out of the top tokens, BitcoinCash jumped by around 12% and is now priced at $179 per token. As witnessed many times before, BCH is often a subject of sudden thrusts in prices caused most probably by its controversial backers Roger Ver and Jihan Wu who are using their gargantuan coin stashes to manipulate the markets and perception of buyers that BCH is a hot merch.

On-chain activity

Business as usual when it comes to the activity on blockchains where EOS leads the bevy in terms of number of transactions with more than 4 million recorded on their blockchain in the last day. Second is Ethereum with around 600k transactions, followed by XRP with 590k and bitcoin with 280k.

Surprisingly, one of the leaders in this category, Tron is far down the ranks on 5th place with only 150k transactions, 10x less than its usual number.

Bitcoin is uncontested leader when it comes to the number of active addresses with more than 649k active addresses, leaving Ethereum lagging behind with 250k active addresses. Litecoin is third with 80k and the meme coin, Doge is 4th with 51k.

Factom and Waves outperformed the market in the last 90 days

Factom and Waves, on the back of strong fundamental appreciation in the sense of solid partnerships in case of Factom and major network upgrades for Waves, outpaced everyone in the last 3 months. Factom is 76% more valuable in the last 3 months whereas Waves grew by 45%. There were only 4 more coins that are in the green for the last 3 months – the newly formed chain of BSV, Nexo, Maker and Polymath; everything else is neck-deep in the red.

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Philipp Traugott
Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.

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