November 23, 2021 · 6 min read

Emerging Token Alert - 23rd November 2021

The cryptocurrency market is still down compared to two weeks ago when both BTC and ETH hit all time highs. Check out interesting projects that listed on Uniswap V2 with Novum Insights

Last updated: Nov 23 1pm GMT

Loopring (LRC)

Loopring is a layer 2 scaling solution for Ethereum using zk rollup. Went live on the Ethereum mainnet in 2019, Loopring is made for faster and cheaper trading and payment and can process up to 2025 transactions per second. Loopring built a DEX that supports both orderbook and AMM. The team rolled out a new web interface last week. Loopring’s native token LRC is designed to incentivize user behavior that will benefit the Loopring ecosystem. 80% of the protocol fees will be paid to liquidity providers. See the detailed tokenomics here. There are currently more than 100k accounts holding LRC.

LRC saw a massive 10x spike in price a few weeks ago due to a rumour that GameStop is potentially looking to use Loopring’s technology for its upcoming NFT marketplace. The price has been correcting since then. LRC’s RSI that went up as high as 94 following the rumour, is now at 54. The trading volume increased by 124% in the past 24 hours. The RVI (Relative Volatility Index) that indicates the direction of volatility is currently at 48. Interpreted along with the movement of RSI and a surge in trading volume, once RVI crosses up 50 it could potentially be interpreted as a buy signal.

Velas (VLX)

Velas is a blockchain protocol that competes with Ethereum. Co-founded by the founder of CoinPayments Alex Alexandrov, team Velas started out with the codebase of Solana, and embedded EVM integration. Velas can process up to 75k transactions per second and boasts a blocktime of 0.4 second. Ethereum’s block time is 12-14 seconds. Velas uses a DPoS (Delegated Proof of Stake) consensus mechanism and has set an 8% annual inflation rate to reward stakers and validators. Velas’ market cap is nearing $1 billion and there are more than 25k wallet addresses. To incubate next generation dapps building on Velas blockchain, the team rolled out a launchpad called VelasPad two months ago. The launchpad comes with deflationary tokenomics and some of the most promising projects will become a part of Velas $100 million grant program. Learn more about VelasPad here. Wagyuswap, the first DEX built on Velas, went live two months ago and since then it has accumulated $65 million in liquidity. The price of WAG (Wagyuswap native token) surged by 30% in the past 24 hours. Velas made a strategic partnership with Panther Protocol, a web3 privacy solution leveraging zero knowledge proof. Together they will enable the cross-chain exchange of private Velas assets. Panther Protocol’s public sale starts today.

Velas’s native token VLX logged a 25% return in the past week and is currently trading at $0.45. Its RSI has been decreasing in the past three days and is not at 56. However the RVI is signalling a favorable volatility. Velas is a new player in the layer 1 market and it will be interesting to see how projects built on Velas take off.

Torum (XTM)

Torum is a social media metaverse project backed by Huobi Ventures and KuCoin Labs. Torum aims to connect cryptocurrency users offering gamified experiences. Torum also has ambitious plans in the NFT space. In Torum NFT marketplace, Users will be able to link their Torum account and showcase their NFT collections under their Torum metaverse identity. It is definitely worth watching how Torum can tie up decentralized identity, NFT, and social media to entertain and benefit the crypto community scattered all over the world.

Torum’s utility token XTM gave an excellent return of 1746% in the past 30 days. Torum is a very young project having launched its IDO two months ago. XTM has a total supply of 800 million XTM and its circulating supply of today is 42 million XTM. XTM reached its ATH 4 days ago and its RSI reached 79. Since then it has cooled down and its RSI is now at 53. Given it is a young project and has reached its ATH recently, risk averse investors or traders should observe and learn more about the project. You can engage with the team and read updates on upcoming product releases via Discord.

Fuse (FUSE)

Fuse is an EVM compatible blockchain designed for crypto payments and mass adoption of DeFi. Its DeFi offering is in beta and has $2.8 million in liquidity. Fuse is currently offering diverse LP rewards programs on Uniswap, Pancakeswap, Fuseswap and FEGex. See all programs here. Fuse also looks to enter the ever hot NFT space. Fuse granted 20k USDT and 200k FUSE to to build the first NFT marketplace on Fuse.

Fuse uses a dPoS consensus mechanism to reward validators and the annual inflation is set at 5%. Fuse had a genesis total supply of 300 million. The current circulating supply is 128 million FUSE and over 60 million are staked. FUSE also logged a chunky return of 350% in November alone. It reached its ATH a week ago and has corrected since then. So its RSI and RVI are now 44 and 45 respectively. Once the RVI crosses over 50, it could be a potential buy signal for investors.

Bondly (BONDLY)

Bondly is an NFT platform that encompasses the music, entertainment, gaming and collectibles fields. Bondly is working on building NFT swap and bridges that will enable NFT owners to seamlessly move their digital assets across various blockchains. Bondly has launched Bondly branded collectibles and card games. Bondly has recently participated in a successful land sale for a metaverse project Netvrk. Netvrk has been featured as one of our emerging tokens two weeks ago.

Bondly has a market cap of $35 million and is not trading at $0.18. Bondly’s RSI and RVI have been decreasing in the past two and are now at 62 and 44 respectively. It is not considered the best moment to enter, however, for users interested in its 20-30% staking APRs, it is not a bad moment to buy BONDLY. Bondly also looks to roll out an upgraded NFT launchpad that will now require xBONDLY (staked BONDLY).

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The Emerging Tokens Alert and the Novum Blog are based on entirely estimated historical returns which provide no guarantee, promise or calculation of potential future returns or losses. In addition, all of the assets displayed and shown on the website are highly volatile and risky.