$300M incentive program backs 100% rally in Harmony (ONE) price
ONE price gained more than 100% after announcing plans to launch a $300 million ecosystem development fund. Protocol and community development initiatives have become the latest trend in the cryptocurrency market after a number of projects have launched multi-million dollar funds aimed at enticing builders and investors to make the cross-chain migration into the layer-2 ecosystem. The latest project to capitalize on this trend is Harmony (ONE), a blockchain protocol that boasts a 2-second transaction finality and offers cross-chain bridges to a handful of layer-one protocols, including Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT) and the Binance Smart Chain (BSC).
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.095 on Aug. 31, ONE price rallied 120% to a daily high at $0.21 on Sept. 9 as its 24-hour trading volume spiked to $717 million.
The surge in ONE price came after the project announced a new $300 million ecosystem fund aimed at attracting 10,000 developers and project founders to build on the protocol. Aside from the development fund, Harmony price also benefited from the new partnerships and cross-chain integrations established over the past few months. The most recent development came with the Sept. 8 announcement of a partnership with Anyswap that will bring a Bitcoin bridge to Harmony.
Funding incentives ignite price rallies
Community development funds launched by protocols over the past month is the new tactic being used to attract liquidity. Avalanche was one of the first to do so when it announced its $180 million “Avalanche Rush” DeFi incentive program, which was followed by a 200% rally in the price of AVAX.
Another example is Fantom, which has seen its price surge by 300% following the announcement of its 370 FTM incentive program.
Other protocols that have launched similar initiatives recently include Terra, whose “Project Dawn” launch allocates $150 million to help improve the Terra ecosystem and Algorand, which launched a $300 million Viridis DeFi fund aimed at maximizing the growth of the DeFi ecosystem on Algorand.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 87.2% | 23 | $64 628.67 | 0.98% | 1.82% | $1 272 549 046 711 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 72.8% | 51 | $3 159.06 | 0.71% | 3.24% | $385 557 858 196 |  |
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| 3 |  USDT |
Tether predictions | 92.8% | 1 | $0.999642 | 0.02% | -0.08% | $110 423 991 962 |  |
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| 4 |  BNB |
Binance Coin predictions | 84% | 20 | $616.20 | 2.01% | 12.14% | $90 944 101 922 |  |
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| 5 |  SOL |
Solana predictions | 64.4% | 71 | $146.66 | -2.12% | 4.60% | $65 562 976 868 |  |
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| 6 |  USDC |
USD Coin predictions | 94% | 2 | $1.000055 | 0% | 0.02% | $33 247 081 720 |  |
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| 7 |  XRP |
XRP predictions | 67.6% | 62 | $0.529978 | -1.38% | 5.39% | $29 217 248 301 |  |
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| 8 |  DOGE |
Dogecoin predictions | 70.4% | 60 | $0.152266 | -0.82% | 1.05% | $21 931 506 577 |  |
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| 9 |  TON |
Toncoin predictions | 64.8% | 66 | $5.52 | -1.85% | -14.48% | $19 156 571 239 |  |
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| 10 |  ADA |
Cardano predictions | 64.4% | 72 | $0.473390 | -1.24% | 4.30% | $16 868 730 809 |  |
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| 11 |  SHIB |
SHIBA INU predictions | 60% | 82 | $0.000026 | -0.37% | 14.49% | $15 274 775 352 |  |
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| 12 |  AVAX |
Avalanche predictions | 67.6% | 68 | $35.87 | -3.04% | 2.84% | $13 565 953 763 |  |
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| 13 |  STETH |
Lido stETH predictions | 94.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
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| 14 |  TRX |
TRON predictions | 83.6% | 21 | $0.117105 | 2.77% | 7.54% | $10 254 777 324 |  |
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| 15 |  WTRX |
Wrapped TRON predictions | 84.4% | 19 | $0.116747 | 2.69% | 7.49% | $10 223 468 554 |  |
