Today’s big cryptocurrency rally has given the entire industry a huge boost, with almost all cryptocurrencies currently trading in the green. However, three of the biggest winners over the past week have been Tezos (XTZ), Cardano (ADA) and Basic Attention Token (BAT). Each of the assets has gained around 40 percent in value over the past seven days.
Tezos has benefited from impressive gains following the news that Coinbase Custody has introduced a staking service for the coin. Coinbase, one of the worlds most popular cryptocurrency wallets, launched it’s custody service in the second half of last year to provide institutional investors with a method of secure crypto storage.
By adding a staking service for Tezos, investors will be able to earn interest off their holdings even while the assets are kept in secure cold storage. Tezos makes this possible due to its delegated proof-of-stake (DPoS) consensus method which allows for the staking of segregated assets. The method is becoming increasingly popular as an alternative to less secure consensus methods such as proof-of-work (PoW) that Bitcoin is based on.
Basic Attention Token (BAT)
The BAT token, developed by the creators of Brave Browser, was introduced as a means to reward internet users for viewing adverts. Wikipedia co-founder Larry Sanger, who now runs his own decentralized online encyclopedia, recently voiced his support for the Brave Browser, citing its many security benefits over alternative browsers.
More and more internet users are taking steps to improve their online security, a development which has no doubt increased the popularity of Brave Browser and helped push up the price of the BAT token.
BAT is up a whopping 46 percent since this time last week, trading at $0.309 with a market cap of $386 million.
Cardano’s ADA token has had a stellar week, reaching a high of $0.08 earlier today up from a low of almost $0.06 last week. Early last month we reported on how ADA was one of the few tokens still in the green following a crypto market slump.
Following an upgrade to its mainnet in late March, Cardano’s price continued to rise, gaining 15 percent on March 22nd. Cardano developer Input-Output Hong Kong (IOHK) released the Mainnnet 1.5.1 upgrade to resolve a log rotation bug and data migration issue.
After a huge spike earlier today, ADA has corrected slightly but is still up 33 percent over the week and 12 percent in the past 24 hours.