Why These Under-the-Radar Cryptocurrencies Are Skyrocketing Today
Decentralized cloud data token Arweave (CRYPTO: AR) and blockchain 3.0 tokens Kusama (CRYPTO: KSM) and Cosmos (CRYPTO: ATOM) are all having a fantastic trading day. They are up 13.59%, 29.95%, and 13.33% in the past 24 hours, respectively, to $63.59, $392.36, and $23.95, as of 1:17 p.m. EDT. The tokens are rallying as part of broad investor euphoria within the decentralized finance, or DeFi, space.
Arweave is the world's first blockweave network and is backed by Coinbase Global's Coinbase Ventures. Traditional blockchain networks, such as Bitcoin, typically have very limited block sizes with averages of 1 megabyte due to cryptography and peer-to-peer validation requirements. So even if the network upgrades to enable smart contract functionality, it will still be impossible to store assets such as non-fungible tokens, or NFTs, on it.
Image source: Getty Images.
Source Fool.com
