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Polkadot is a fascinating distributed technology and cryptocurrency ecosystem for various reasons. As the parachain auctions draw near, now is an excellent time to pay attention to some native projects. The following five ventures all note substantial gains in the past week, indicating momentum is brewing.
STP Network (STPT)
The ability to tokenize assets on a blockchain is a powerful feeling. STP Network introduces support for cross-chain asset tokenization and new financial products across various blockchains without requiring substantial over-collateralization or high bridging fees. STP 2.0 pages the way for doing so in a Web 3 environment, making the protocol of great interest. STPT, the native token, gained 229% this past week, pushing its market cap to $237 million.
Shadows (DOWS)
Shadows, or Shadows Network, serves as a financial hub for trading, lending, and borrowing derivative assets. Thus, tackling the multi-billion dollar derivatives industry is crucial and opens many opportunities. DOWS, the native token, is of great interest to traders and serves as a rewards and utility asset. This week, DOWS rose by 103%, allowing the market cap to hit $7.7 million. A good start, but there is more work to do.
Ternoa (CAPS)
Non-fungible tokens are a hot commodity in the cryptocurrency world today. Ternoa positions itself as an NFT-based decentralized data transmission blockchain powered by Polkadot technology. Features include decentralized storage, NFTs with extended owner privileges, and much more. As the native CAPS token rose by 898% in a week, it is safe to say traders intend to push the market cap past $33.7 million.
Centrifuge (CFG)
The Centrifuge Chain can bring real-world assets to the blockchain multiverse. Building this network on Parity Substrate allows for a convenient bridge to Ethereum and the tremendous liquidity that the ecosystem represents. Thanks to recent partnerships and other developments, Centrifuge gets a lot of attention once again. Even the native CFG token has gained 93% this week, allowing the project’s market cap to surpass $232 million.
Celer Network (CELR)
As a layer-2 scaling platform application looking to explore opportunities on Polkadot, Ethereum, and other blockchains, Celer is a crucial cog in the machine. Moreover, the team intends to push the boundary of L2 scaling for some time to come. Investing in infrastructure providers is always worthwhile. This week, CELR gained 79%, and the project is on its way to hit a $1 billion market cap.
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