Weekly altcoin update – week 29 This week's altcoin update inv | House Of Chimera
Weekly altcoin update – week 29
This week's altcoin update involves an update on $XCAD, $RSR, and $ZIL!
XCAD Network
The XCAD Network is constantly building to push their product further, as discussed in the previous altcoin update, the current adoption of their product by content creators does exceed 130 million subscribers this equals the population of France, Italy, and Norway. The roadmap of XCAD Network is allegedly coming this week, which we will analyze in the upcoming weekend read. The product release is expected in Q3, and this will have most likely a massive influence on the value of XCAD Network considering the product will create value for the platform by adoption.
Reserve Protocol
The adoption of Reserve Right is growing, the Reserve app is making serious progress to be the top downloaded financial application in Venezuela while being the 16th downloaded app of all apps. As highlighted in our report, the overall sentiment of Venezuelans is highly positive towards Reserve considering it allows them to avoid the financial constraint of black market USD exchange rates that are incredibly unfair. The overall social media growth of Reserve protocol is being noticed. The marketing strategy is mainly focused on the youth of LATAM, which makes total sense considering the demographic of LATAM. Besides that, the adoption rate of the youth on cryptocurrencies and blockchain as a whole is significantly higher in comparison with the older generation. Therefore, it is smart that Reserve Protocol uses the entity Hola Reserve for the LATAM area, with a focus on platforms such as TikTok and Instagram. This is further being discussed in our research and highlighted why it makes sense to target this audience.
House of Chimera expects the mainnet release of RSR to be imminent, considering the latest developments of the Reserve app to lessen the overall invitation restrictions. The adoption of Reserve Protocol is considerably increasing, considering this was a hard requirement it would make sense to release the mainnet sooner than later.
Zilliqa
Zilliqa is currently in somewhat of a progression period, where most of us wait on the ZIL<-> ETH bridge and on ZIL-4. However, it is worth saying that the Zilliqa ecosystem is being more and more built on, especially in comparison with a year ago. According to Zilstream, there are currently 25 projects on the Zilliqa ecosystem with a bunch of projects to come such as DeMons, Pillar, Coralapp, Hashswap, and more! The latest grant of ZilHive shows that there is enough ambition of developers to build on the Zilliqa ecosystem. The upcoming project Hashswap is in particular interesting, considering it will introduce a USD-pegged stablecoin on the Zilliqa platform. To add to that, there is a bunch of DeFi projects with meaningful concepts such as Nyayomat.
The projects that are currently doing exceptionally well are $XCAD, $SCO, and $PORT. These three projects are creating loads of value for the ecosystem by attracting investors outside the Zilliqa ecosystem, therefore creating network activity that draws new developers to build their projects on the Zilliqa ecosystem.
House of Chimera is looking forward to the ZIL-4 event, which will take place in a few weeks. Based on a small update of Colin Miles in the Zilliqa telegram chat, there is a bunch of updates of partners and announcements on the ecosystem.
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