House of Chimera Weekly Altcoin Update – Week 7

This week's HoC Weekly's Altcoin Update will be highlighting LUNR Token and Reserve Protocol!

LUNR Token

ZRC-2 ecosystem growth

The Zilliqa ecosystem is currently approximately processing 55K transactions a day. In January, approximately 425,946 transactions were made through dApps, 237,094 of these transactions were processed through LUNR. Therefore, 55,6% of the total dApps transactions in January was made by LUNR holders. The ecosystem has processed over 650,000 unique transactions in approximately five months, with significant growth in transactions in the last two months. It is expected that the growth of LUNR will continue, especially with the upcoming Lunarcrush.com changes and deflationary tokenomics. The growth in social and behavioural activity is significant, with considerable growth in total social volume in the past week. The reason behind the growth is the announcement of the upcoming ecosystem updates; A new LUNR crush level, LunrFi, Deflationary tokenomics and more. The ecosystem is quickly expanding and maturing in a significant cryptocurrency data aggregator. The cryptocurrency community recognizes the growth, and therefore, are more positive regarding the LUNR token. Thus, the social sentiment graph is gradually increasing. This could potentially create a network effect, whereby the positivity surrounding LUNR will impact potential investors, creating the feeling of 'FOMO'. This effect is already gradually starting with the increase of token holders; LUNR has already over 60,000 token holders.

Reserve Protocol

Global inflation is rising

The demand for an inflation resistant currency is more relevant than ever. The US Dollar, arguably the most inflation resistant global currency, is suffered from an inflation rate of 7,5% in January 2022. To put this in perspective, it is the highest inflation since February 1982 and the fourth month in a row that the inflation rate is above 6%. The destructive power of inflation has already been felt for years by many Latin American countries; Venezuela suffered a staggering inflation rate of 53,798,500% since 2016, and Argentina was exposed to an inflation rate of over 50% in January 2022.

Reserve App Growth

Reserve Protocol allows anyone to create stablecoins backed by a basket of ERC-20 tokens, called R-Tokens. The aim is to construct a purchasing-stable currency, allowing anyone to benefit from basic currency features (e.g. saving, lending, buying). The protocol is currently active in five countries in LATAM, with over 12,000 unique supported merchants (e.g. BurgerKing Venezuela). The Reserve Protocol App currently has over 100,000 active monthly users, with 500,000 unique application downloads on the Playstore.