As Somanews, we examine altcoin projects REQ, MFT and KEY as the biggest crypto winners of the day in crypto markets. REQ, MFT and KEY altcoin projects are surmounting chaos with double-digit gains as the trend for decentralized payments and identity management rises amid ongoing global developments.
First altcoin: Request Network
The data received shows that the top earners in the last 24 hours are Request Network (REQ), Hifi Finance (MFT) and Selfkey (KEY). Request Networke (REQ) is an Ethereum-based decentralized payment system that allows users to create, share or fulfill a payment request through secure channels without the need for an intermediary. It started detecting a bullish outlook for REQ on March 13 before the last price hike. REQ price rallied from $0.18 to as high as 0.3 in the past two days. This is an increase of about 40%. The boost for REQ comes with continued pressure for the project to become a payment provider for activities in the burgeoning metaverse, following the addition of support for Jarvis Network’s Euro stablecoin (jEUR).
Hifi Finance is a decentralized lending protocol that allows crypto holders to borrow against the value in their assets using bond-like instruments that represent an on-chain obligation settled at a specified date in the future. The data shows that since the low of $0.006 on March 6, 24-hour trading volume increased by 1.131 percent to $235 million, while MFT price rose 5% to $0.009 on March 14. The spike in price and trading volume for MFT follows the announcement that Hifi Finance will soon integrate governance capabilities for MFT holders who can create and vote on proposals regarding the future development of the protocol.
Decentralized identity management
Selfkey (KEY) is a blockchain-based identity platform that seeks to advance the Know Your Customer (KYC) process and support the Self-Sovereign Identity ethos through the KYC-Chain. KEY turned green on March 7, and over the next four days, its price began to rise 35.6%. At the time of writing, its price was around 0.008. The return in KEY price comes as the project attempts to integrate SelfKey and the KYC-Chain decentralized identity management system into the cryptocurrency ecosystem as a way to meet global KYC/Anti-Money Laundering regulations.