In the past few weeks, blockchain projects focused on supply chains and logistics have seen tremendous growth as the economic stalemate caused by coronavirus begins to ease and future concerns about the global pandemic subside.
Three logistics projects that have benefited from the improving economic outlook are OriginTrail (TRAC), Waltonchain (WTC) and Wabi (WABI). The token price has risen by up to 300% since the beginning of February.
TRAC / USD vs. WTC / USD vs. WABI / USD 1-day chart. Source: TradingView
TRAC / USD
OriginTrail is a self-described “ecosystem that aims to enable global supply chains to work together through a universal, collaborative and trustworthy exchange of data.”
The project was founded in 2011 with the aim of empowering corporate users to optimize their supply chains with additional data protection and item tracking functions.
The project currently has partnerships with well-known companies such as Microsoft, Walmart and Oracle.
Since February 1, the TRAC price has increased more than 475% from $ 0.151 to a new all-time high of $ 0.867 on March 12, thanks to several key protocol developments including the introduction of the stake on February 9.
TRAC / USDT 4-hour chart. Source: TradingView
On March 7th, buyers re-entered as OriginTrail prepared to launch “the world’s first decentralized multichain knowledge chart” that will enable the TRAC platform to work with multiple blockchains such as Polkadot (DOT), xDai (STAKE) and the Oracle Blockchain can work together.
WTC / USD
Waltonchain (WTC) is another supply chain-focused protocol that has made significant strides since early February. WTC price rose 436% from a low of $ 0.343 on February 1 to a high of $ 1.64 on March 11, as trading volume rose from a daily average of $ 4 million to over $ 300 million .
WTC / USD 4 hour chart. Source: TradingView
Waltonchain is focused on creating an ecosystem that combines blockchain, RFID technology and the Internet of Things to improve operational efficiency for use cases in the supply chain.
A major new development in the recent WTC rally was the successful update of the protocol’s cross-chain center, which enables interactions between data on various blockchains, including Ethereum (ETH) and Fabric.
The update also introduced a number of new features made possible by Waltonchain’s parent-child chain architecture, including the creation of an NFT product platform as well as a number of DeFi products such as a decentralized exchange, a platform for aggregating liquidity and an insurance swimming pool.
These developments show that projects need to expand functionality to appeal to a wider range of cryptocurrency investors. The addition of NFT and DeFi functions helped bring new energy to the community and increased the token value.
WABI / USD
Wabi (WABI) is a supply chain ecosystem that connects brands and consumers by enabling a seamless, fair and confidential exchange of information.
Over the past month, WABI price is up more than 320% as it rose from $ 0.95 on February 1st to a high of $ 0.399 on March 12th.
WABI / USD 4 hour chart. Source: TradingView
Currently, the protocol is preparing to roll out a new B2B marketing solution focusing on markets in Asia.
Reopening supply chains after a year of disruption caused by the COVID-19 pandemic appears to be the most important factor in the future success of WABI and other supply chain and logistics-focused platforms.
At an industry-wide level, interoperability with other blockchain platforms was one of the main drivers of the rally in supply chain projects in 2021. As the global economy opens up and supply chains are restored, platforms are being created that allow for a smooth flow of global trade.
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