Investment

Supply chain tokens see three-digit gains as the global economy recovers


In the last few weeks, supply chain and logistics blockchain projects have grown tremendously as the coronavirus economic crisis eased and future fears of a global pandemic subsided.

The three logistics projects that benefit from the improving economic outlook are OriginTrail (TRAC), Waltonchain (WTC) and Wabi (WABI). Since the beginning of February, each of them has seen an increase in token price of up to 300%.

1 day chart TRAC / USD vs. WTC / USD vs. WABI / USD. Source: TradingView

TRAC / USD

OriginTrail is a self-described “ecosystem dedicated to the collaboration of global supply chains by enabling universal, collaborative and trustworthy data exchange.”

The project was established in 2011 to provide enterprise users with the ability to streamline their supply chains with the added feature of data protection and item tracking.

The project currently has partnerships with major companies such as Microsoft, Walmart and Oracle.

As of February 1, the TRAC price has risen more than 475% from $ 0.151 to a new all-time high of $ 0.867 on March 12, thanks to several significant protocol developments, including the introduction of bets on February 9.

4-hour TRAC / USDT chart. Source: TradingView

On March 7, buyers re-entered as OriginTrail prepared to launch “the world’s first multi-count decentralized knowledge chart” that would allow TRAC to work with multiple blockchains, including Polkadot (DOT), xDai (STAKE) and Oracle blockchain.

WTC / USD

Waltonchain (WTC) is another supply chain protocol that has seen significant gains since early February. The price of WTC rose 436% from a low of $ 0.343 on February 1 to a maximum of $ 1.64 on March 11 as trading volume rose sharply from a daily average of $ 4 million to more than $ 300 million.

4-hour WTC / USD chart. Source: TradingView

Waltonchain aims to create an ecosystem that combines blockchain, RFID technology and the Internet of Things to increase operational efficiency for supply chain applications.

One of the main developments that may have started the current WTC rally has been the successful update of the protocol cross-chain center, which allows data to interact between different blockchains, including Ethereum (ETH) and substance.

The update also introduced a number of new features that will enable Waltonchain’s parent and children’s chain architecture, including the creation of the NFT product platform and DeFi product suite, such as the decentralized stock exchange, liquidity aggregation platform and pool insurance.

These developments show that projects need to expand their functionality to reach a wider range of cryptocurrency investors. The addition of NFT and DeFi features has helped bring the community renewed energy and increased the value of the token.

WABI / USD

Wabi (WABI) is a supply chain ecosystem that connects brands and consumers by enabling a seamless, fair and confidential exchange of information.

The WABI price has risen more than 320% in the last month, rising from $ 0.95 on February 1 to a maximum of $ 0.399 on March 12.

4-hour WABI / USD chart. Source: TradingView

There is currently a protocol preparing to run a new B2B marketing solution focusing on markets based in Asia.

The reopening of supply chains after a year of disruption caused by the COVID-19 pandemic appears to be the most significant factor associated with the future success of WABI and other supply chain and logistics platforms.

At the sector-wide level, interoperability with other blockchain platforms was one of the main drivers of rallying in supply chain projects in 2021. As the global economy begins to open up and supply chains recover, platforms that facilitate the smooth functioning of global trade could see more rise.

The views and opinions expressed herein are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and business move involves risk, you should do your own research when making a decision.



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