With new institutional and retail investors entering the cryptocurrency space on a daily basis, large-cap top performers like Bitcoin (BTC) and Ether (ETH) attract the lion’s share of investor attention as they are the familiar “secure” blockchain Projects.
Once these new investors get a taste of major cryptocurrencies and how to navigate the volatile markets, they will soon turn to smaller coins as they look for the emerging projects that could be the next big topic.
Currently, CoinMarketCap shows that 8,475 tokens and more are being added every day. This makes it difficult to keep up with the latest developments and find solid projects with real potential.
With that in mind, here are some interesting projects that have grown in strength over the past few weeks.
MRPH / USDT
Morpheus Network (MRPH) is a blockchain platform that focuses on logistics and supply chain optimization through the use of its SaaS middleware platform integrated with new technologies.
Supply chain managers can use the platform to create a digital representation of their network while converting collected information into actionable data, with all steps in the supply chain notarized on the Morpheus blockchain.
MRPH traded at a price of $ 0.412 on Jan 15 before an influx of trading activity lifted the token by more than 920% to a high of $ 4.44 on Feb 8.
MRPH / USDT 4 hour chart. Source: TradingView
The rapid rise in prices was partly due to the new attention the project received from several well-known YouTube influencers and recently reviewable MRPH partnerships like China’s Qingdao Maple Leaf International Trading Co. and the possibility of partnering with Coca-Cola in Latin America .
Aside from speculation, the Morpheus platform currently has more than 100 integrations with industry-leading service providers such as DHL, FedEx, SWIFT, Oracle and Salesforce. With significant partnerships in the field and the attention of cryptocurrency influencers, MRPH has solid fundamentals and is likely to get more attention from investors.
BMI / USDT
Bridge Mutual (BMI) is a more recent introduction to the decentralized insurance space, but it has quickly caught the attention of investors.
The insurance platform offers cover for stable coins, central exchanges and smart contracts. In addition, users can provide insurance coverage, set insurance payouts, and receive compensation for participating in the ecosystem.
BMI’s first decentralized exchange offer (IDO) was made on January 30th with a token price of $ 0.125 and was first listed on Uniswap for $ 1.03. Since its listing, the BMI has risen 540% on Feb. 3 to a high of $ 5.46. The BMI is currently trading at USD 3.24 after the market downturn that began on February 21.
BMI / USD 1 hour chart. Source: CoinGecko
Decentralized insurance has so far been dominated by Nexus Mutual (NXM), but the arrival of BMI presents a new challenger for a field of growing demand as investing in DeFi platforms is risky.
REEF / USDT
Reef (REEF) is a Polkadot-based DeFi platform designed to offer cross-chain trading powered by a return engine and intelligent liquidity aggregator that enables automation of the exchange process.
One problem for which Reef developers want to offer a solution is the high gas fees in the Ethereum blockchain, which are currently making DeFi unusable for many community participants. The team also hopes to be able to link pools of liquidity from separate networks together to avoid the need for multiple accounts, which can be difficult to keep track of.
REEF / USDT 4 hour chart. Source: TradingView
Work on the project began in the second half of 2020 with the conclusion of the IDO on September 30th. After listing on Binance and Uniswap in late December 2020, REEF price bottomed at $ 0.0067 on January 13 and has since risen more than 750% to a high of $ 0.054 on February 11.
DeFi remains one of the hottest growth areas in the cryptocurrency sector, and Reef is well positioned to capitalize on its continued growth. As the Polkadot ecosystem expands its user base and offers solutions that take off the high transaction costs of Ethereum, cross-chain functional projects like Reef are poised to capitalize on when decentralized funding goes mainstream.