Nexo (NEXO) continues to struggle to break the $1 resistance while Compound (COMP) experienced a significant decline in trading volume in a short period. These developments and more are the focus of this article.
Zig Network (ZIG) also captures our attention, recently attracting interest from Nexo (NEXO) and Compound (COMP) investors. We explore what Zig Network (ZIG) is all about and what it offers the market.
Nexo’s struggle to break $1 continues
Nexo (NEXO) has dropped by 3% in the past month but continues to trade around the $1 mark. The digital assets institution has struggled to break past this price point since May 2022 and it doesn’t seem likely that it will rise above it anytime soon. Nevertheless, trading volume has recovered with a 10% increase in the past day.
Nexo (NEXO) was established in 2018 with a mission to maximize the value and utility of digital assets. Since then, it is now valued at $645.62M and ranks among the top 15 cryptocurrencies by market capitalization.
Compound’s trading volume drops by 20%
Compound’s price has declined over the past month, dropping 3% from $46.33 to $44.85. Unlike Nexo (NEXO), its trading volume has dropped significantly, falling by 20% in the past day. Compound (COMP) reached an all time high of $911.20 in May 2021 but has since experienced a steady decline of over 95%. It dropped below its launch price of $93.27 in May 2022 and has remained under that level ever since.
Compound’s value arises from its decentralized finance (DeFi) protocol which enables users to earn interest on their cryptocurrencies. Another DeFi innovator expected to reach new market heights is Zig Network (ZIG).
Zig Network (ZIG) fosters natural growth and encourages participation
Zig Network (ZIG) is a visionary layer 1 blockchain built on one idea only: revenue sharing. It combines Proof of Stake (PoS) and Delegated Proof of Stake (DPoS) to enhance security, decentralization and scalability. With its modular design, Zig Network (ZIG) is amenable to the integration of new features and upgrades.
Zig Network (ZIG) generates revenue from partnerships, staking and transaction fees. Using a fair and transparent distribution formula, a portion of the total revenue is distributed among token holders in proportion to their holdings. Zig Network’s approach ensures that every user is rewarded based on their contributions and investments, fostering natural growth and encouraging participation in network activities.
Zig Network’s (ZIG) smart contract has already undergone a third party audit and it is committed to regular audits to ensure the security and safety of funds.
To find out more about Zig Network, use the links below
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