Agriculture, one of the smallest crypto sectors, has outperformed the market with an 8.28% gain over the past 24 hours. crypto slate data.
in the meantime crypto slate We track only three crypto projects within the agricultural industry, but these projects are leading the market, with leading project Blocery up 16.29% at the time of writing.
The sector as a whole has a market capitalization of just $7.78 million, but on February 21st alone it saw more than $4.3 million in trading volume.
Blocery uses blockchain technology to record immutable and reliable data about the production, distribution and sales history of agricultural products. The goal is to streamline the agricultural process while achieving transactional reliability and transparency.
The project appears to be mostly active in South Korea, with a Twitter account posting regular updates in Korean. According to a recent article, the company is exploring new areas to find applications for his Blocery. medium post. For example, we are building a B2B distribution platform to help produce reach customers in fewer steps.
Blocery has also improved its consumer app, Shopbly, with recent updates focused on speed optimizations, usability upgrades, and features that support your marketing needs.
However, the team has apologized for a recent incident in which inappropriate ads were briefly posted due to mismanagement of admin accounts. Appropriate measures are being taken to prevent similar incidents from occurring.
The Decline of Agriculture Tokens
Other projects tracked in this sector are Carbon Coin and Herbalist Token, both of which have low market capitalization.
Carbon Coin is operated by Carboncoin Trust. The Carboncoin Trust is a charity that aims to combat climate change by supporting biodiversity, regenerating, reducing waste, and avoiding supporting technologies that contribute to global warming. Using Carbon Coin for payments is a desirable goal, and 90% of protocol transaction fees were donated to environmental charities.
The Herbalist Token Project launched a blockchain integrated marketplace in 2019 to connect rare herb farmers directly to customers, eliminating middlemen and reducing costs. The goal was to make rare herbs more accessible to consumers and increase profits for producers.
However, neither Carbon Coin nor Herablist Token have posted to their Twitter accounts since 2019. This indicates that the project may not be under active development.
Still, the lack of activity doesn’t mean neither project recorded an increase of more than 12% in the last seven days. Although no official announcement has been made to confirm the status of the project, Carbon Coin and Herbalist tokens are available on YoBit and ProBit respectively.
The use of blockchain technology in industries focused on supply chains is a well-documented use case. However, adoption in agriculture seems to be lagging and the future of some crypto projects in this sector is unclear.