Harmony (ONE)’s great week proves it has the potential to be the next big altcoin

There is no denying that Harmony’s ONE token has been having a great run as of late. With the entire cryptocurrency market appearing bullish in recent weeks, $ONE has capitalised on the wave by making some great progress.

Just over a couple of months ago, the oft-touted altcoin, highly rated due to the nature of Harmony’s project, was not doing so well. On August 25, $ONE was trading at 0.09$. But fast forward two months and it has now reached an all-time high, trading at $0.34 this week. 

Harmony’s $ONE has always been touted as an altcoin that has immense potential. The project uses cross-sharded contracts and a cross-chain infrastructure among multiple blockchains and is on improving scalability between blockchains. 

The project has had some great press as of late. In early September, Harmony announced a $300 million ecosystem development fund designed to assist crypto founders and builders, strengthening the Harmony ecosystem in the process. Then, last week, it backed up that claim with concrete actions, giving out grants to ten promising projects at the Harmony ONE world conference in Lisbon.

Boosting the protocol further is the number of high-profile partners Harmony has brought on board over the last month. Harmony has also taken steps in the nascent NFT market with its Da Vinci marketplace, clocking up more than a million dollars in NFT sales recently.

Now that it has broken through the critical resistance and reached an all-time high, it remains to be seen just how far this current wave can carry $ONE. A sustained run might even see it breach the $1 mark in the near future.

Leave a Reply

Your email address will not be published. Required fields are marked *