Key highlights:

The 10th BNB coin burn is coming up shortly

Waltonchain's WTA pre-mining will begin on January 14

Grin will upgrade to a new proof-of-work mechanism

The best crypto projects to follow this week

As we move through the first month of the year, a number of projects are embarking on renewed roadmaps, and this week’s choices are set to benefit from significant developments and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.

1. Binance Coin (BNB)

Binance Coin is a token used by the Binance exchange, and it enables customers to enjoy reduced fees when trading via BNB. In addition, it can be used to pay for exchange, withdrawal and listing fees, and for the first year, there was a 50% discount rate on trading fees, which dropped to 25% in the second year, and halves again in each of the subsequent two years.

Why Binance Coin?

The team completed their 9th quarterly BNB token burn around 3 months ago with the 10th scheduled to take place shortly. The October burn saw 2,061,888 BNB tokens worth roughly $36,700,000 burned, and this represented a significant growth from the 808,888 tokens destroyed in the 8th burn. The ongoing development of margin trading, futures trading, and fiat on-ramps should result in another significant burn for the October to December 2019 period. As ever, the reduction in the total supply of BNB tokens should have a beneficial impact on the price of BNB.

Buy/Sell Binance Coin (BNB)

How to buy Binance Coin (BNB) on Binance?

2. Waltonchain (WTC)

Waltonchain is a blockchain architecture that’s been designed for the coming Internet of Things (IoT) age. Waltonchain uses RFID technology and aims to eradicate retail counterfeiting. After proving the concept by successfully operating in the men’s clothing company industry, the team aim to branch out into areas and are in talks with other clothing companies to roll out their RFID-based technology.

Why Waltonchain?

The team have announced that the WTA pre-mining period for all users will begin on January 14. Up to 10,000,000 WTA tokens are available to be pre-mined and anyone interested must download the latest version of WTA App and pass KYC to join. WTA is a child-chain token which uses the main Waltonchain network, and works alongside the main WTC token. It helps to bring a dynamic form of Proof of Stake (PoS) to WTC and the team outlined its initial pre-mining process here.

Buy/Sell Waltonchain (WTC)

3. Grin (GRIN)

Grin is a MimbleWimble-based cryptocurrency that aims to offer all users the ability to use electronic transactions without censorship or restrictions. The main idea is to empower anyone to transact or save modern money without the fear of external control or oppression.

Why Grin?

The dev team supporting the project have announced that there is a hard-fork scheduled for block 524,160. This is estimated to take place close to January 15, and Grin and Grin wallet 3.0.0 have already been released in preparation for the hard fork. The current ASIC-Resistant PoW will change to Cuckaroom29 and it’s recommended that everyone switches to Grin 3.0.0 in order to avoid any issues. Further information can be found on this forum post.

Buy/Sell Grin (GRIN)

How did the coins perform last week?

The seven-day period led to positive results across the market, while the results were mixed for last week's coins to watch. KCS retraced by around 2% and in value and is currently trading at around $1.01. DASH performed very well over the week, and made a gain of around 32%, and is currently trading at $64.60. PIVX made a marginal gain of just over 1% in value and is currently trading at $0.23. Over the course of the week, the market moved from $198B to $216B.