CoinMarketCap: Three alternative coins dominate with gains exceeding 20%
Stacks, NEAR Protocol, and Mina, three alternative cryptocurrencies (altcoins), have emerged as the top gainers on CoinMarketCap’s chart, each experiencing price increases of over 20%.
Stacks (STX) has seen a significant surge of 27.1%, reaching a current price of $1.48. Acting as a Bitcoin layer, Stacks facilitates the integration of smart contracts and decentralized applications with Bitcoin, allowing for transaction settlements on the Bitcoin blockchain. The recent growth of Stacks can be attributed to its recognition by Coinbase Institutional on X.
Following closely behind is the NEAR Protocol (NEAR), which has experienced a 21% increase, placing its market price at $2.87. This surge in value can be attributed, in part, to the recent announcement of significant partnerships by NEAR Protocol in early November. The protocol collaborated with Polygon Labs to enhance zero-knowledge proofs and established a partnership with Eigen Labs to improve Ethereum rollups’ efficiency and reduce associated costs. These strategic alliances have contributed to the positive trajectory of NEAR Protocol, extending into December.
In the third spot is Mina (MINA), with a 20% increase, bringing its market price to $0.8993. The Mina Foundation, responsible for driving the MINA protocol, recently underwent a leadership reshuffle in preparation for its relocation to Switzerland. This strategic move aligns with the firm’s readiness to implement upcoming enhancements, such as the release of zero-knowledge smart contracts known as zkApps.
Reports from December 20 continue to highlight the dominance of altcoins, showcasing a growing appetite for risk among investors.
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