Is Now The Time To Buy Cardano, Filecoin, Everipedia Or Kyber Network Cryptocurrencies?

Is Now The Time To Buy Cardano, Filecoin, Everipedia Or Kyber Network Cryptocurrencies?

A pack of cryptocurrencies have gained momentum spurred by disparate factors over the last week. Is now the time to buy Cardano ADA/USD, Filecoin FIL/USD, Everipedia IQ/USD, or Kyber Network KNC/USD

ADA: The native cryptocurrency of the Cardano network will begin trading on Coinbase Pro starting Thursday. In-bound transfers were allowed earlier on Wednesday. ADA has rallied 23.81% on a seven-day trailing basis. At press time, the cryptocurrency was trading 14.85% higher at $1.41.

Cardano has returned 687.62% on a year-to-date basis beating the 102.41% returns garnered by Bitcoin BTC/USD in the same period. The apex cryptocurrency by market cap traded 5.15% higher at $58,848.24 at press time.

See also: How to Buy Cardano (ADA)

FIL: The native token of the Filecoin ecosystem is likely buoyed by two separate developments. Filecoin reached 2.5 exabytes of storage capacity, according to Colin Evran, an ecosystem lead at Filecoin, Cointelegraph reported. This is important because Filecoin is a peer-to-peer network geared towards file storage.

Another development is Grayscale Investments offering five new trust offerings, one of which is a trust underpinned by FIL. The cryptocurrency has risen 97.74% in a seven-day trailing period. FIL traded 32.31% higher at $84.44 at press time.

On Wednesday, a publicly listed company in China — New Universal (Newu) —said it had signed a purchasing contract with Sesumg, an electronics component manufacturer, to buy RMB 580 million ($90 million) worth of FIL miners, the Block reported. FIL has risen 246.63% since the year began.

IQ: Everipedia, which claims to be the world’s largest decentralized encyclopedia, uses the IQ token. The token got a boost from the current non-fungible token frenzy after the Associated Press announced on March 3 that it was auctioning an NFT of a news-related art item where it called the 2020 presidential election. 

AP created and published the NFT on Ethereum ETH/USD blockchain and used an ETH address to call the winner of each state in the 2020 presidential election on Ethereum using Everipedia’s OraQle software, according to the NFT’s Opeansea listing. IQ token has gained 113.56% in a seven-day window. The token traded 2.76% lower at $0.02064 at press time.

IQ has soared 597.76% on a YTD basis. In the same period, ETH has returned 148.49%. The second-largest cryptocurrency by market cap traded 4.04% higher at $1,835.04 at press time.

KNC: On-chain liquidity protocol Kyber Network is gearing up to release Kyber 3.0, which will add new governance features and counteract the high fees seen on the Ethereum network.  The update is slated to transition Kyber from a single protocol “to a hub of purpose-driven liquidity protocols catered to various DeFi use cases.” KNC has shot up 51.73% in a seven-day trailing period. The coin of the Kyber Network traded 38.4% higher at $3.08 at press time.

KNC has risen 288.69% since the year began.

Posted In: BitcoinBlockchaincardanoEthereumEveripediaFilecoinKyber NetworkNFTNFTsnon-fungible tokenCryptocurrencyLong IdeasNewsMarketsMoversTrading Ideas

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