Blocknet (BLOCK) outperforms the market for 2 weeks consecutively! What’s pushing it?

The crypto market has been dropping for the last two weeks, with bitcoin falling from a high of over $9500 to its current prices of sub $7500. However, there is one project that seems to be performing quite well, and that’s blocknet. Today is up by over 22% in intra-day trading, and seems to be gaining even further. So what’s driving it?

First, there is the fact that it is built on some very strong fundamentals. Blocknet is a blockchain agnostic platform that allow different blockchains to communicate. In essence, blocknet is positioning itself as the backbone of the decentralized internet, which at this point is clearly the future.

Blocknet also provides an environment for the development of decentralized exchanges. This is actually the biggest reason why blocknet has grown so fast in the recent past. People are increasingly becoming aware of the dangers of centralized exchanges. After a series of exchange hacks in the last few months, people are skeptical of leaving their money in exchanges. Of course, the recent Bitcoin gold attack in which, exchanges lost millions of dollars is making the case for decentralized exchanges even stronger, and blocknet is at the forefront on this new emerging paradigm.

Blocknet is also being driven by the positive news they have been releasing in the recent past. For instance, they recently announcement the introduction of the Xrouter. The Xrouter is a component of the blocknet ecosystem that allows for blockchain records verification, without the need to download the blockchain involved. This is a big deal because it has laid the ground work for the explosion of light-weight decentralized applications. Thanks to the Xrouter, blocknet is poised to become the biggest platform for blockchain-based applications for everyday use. Xrouter is actually the first blockchain light-client wallet for cross-chain applications. This gives it a fist-mover advantage in this space, and is guaranteed to grow in value as such cross-chain apps grow in popularity. Therefore, it is not surprising that investors are taking advantage to buy blocknet at current prices.

This crypto is also being driven by the fact that their project coordinator just gave an interview, explaining some of the things they have in the pipeline. All of them are amazing. For instance, he announced that they are working on integrating their network with custom blockchains such as Monero. Once they achieve this, blocknet will pretty much be headed towards integrating all other blockchains into their network, and this will add to its fundamental strength.

With all these factors at play, it is clear that blocknet will continue to grow even when bitcoin and other coins are showing weakness in the market. The factors contributing to the recent drop in the crypto market all play, towards making blocknet even stronger in the market. This is one project that will reward long-term investors big-time. It may not have much hype in the market right now, but once decentralized exchanges become the norm, blocknet will hit the moon.