"Backed by something" is from prior ages.
Get to first principles...
We used a rare commodity like gold or silver as a fair ledger to track debt. Backing in the past meant "it's hard to cheat the system".
An incorruptible ledger with no central control does NOT need backing.

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Original Odaily(@OdailyChina)
Author/ Wenser (@wenser2010)
The crypto market continues its downward trend with volatility. However, even in this sluggish market, a few tokens have bucked the trend, maintaining their own independent rhythm of "big rises and falls." This Odaily will analyze these recently high-performing "monster coins," attempting to summarize their commonalities and help identify the next investment targets with the potential for explosive growth.
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Author/ Wenser (@wenser2010)
Original title: Five cryptocurrencies defy market trend and surge; which is the next potential coin?
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The crypto market continues its downward trend with volatility; however, even in this sluggish market, a few tokens have bucked the trend, maintaining their own independent rhythm of "big rises and falls."Odaily will analyze these recently high-performing "monster coins" in this article, attempting to summarize their common characteristics...