From August 9 to 14, 2021, the cryptocurrency market continues to rise. More than 95% of altcoins have been growing for several weeks now, averaging over 60% according to Live Coin Watch statistics.
The weekly top is headed by XRP that it will be used by one of the main companies for sending remittances from South Korea; Y cardano (ADA), which is gearing up for the release of the Alonzo update.
They follow him waves (WAVES) and his new advances with the contest of his «digital ducks» in NFT; Y Stellar (XLM), which established an alliance with the Bitso exchange to expand operations in Latin America.
The five cryptocurrencies are completed with IOTA (MIOTA), which this week launched a new app with support for Ledger hardware wallets.
The price of bitcoin (BTC) continues to rise, touching $ 47,000. The growth that began a few weeks ago, when the cryptocurrency emerged from the bearish cycle that began last May, is still underway.
Upon reaching $ 47,000 on August 14, a pattern was observed in bitcoin that predicts that the upward movement could become more pronounced. It is about the Golden Cross or Golden Cross, a pattern that can be seen on a candlestick chart when the 50-day moving average (MA) crosses upward with the 200-day MA.
As published by CriptoNoticias, the arrival of this pattern would confirm that BTC resumed the bullish path that it had lost between May and last June. On average the cryptocurrency it grew by 4% in these seven days. At the time of this writing, it is trading at USD 46,020.
On the other hand, ether (ETH), the cryptocurrency of Ethereum, also continues to rise in price. This week its value ranged between USD 2,922 and USD 3,315. On average, it appreciated above 3.5%.
One week after the activation of the expected London update on the Ethereum blockchain, some blocks on the network are already deflationary, according to Coin Metrics analysis. This, after the implementation of the EIP-1559 improvement with which a change was introduced in the commission scheme that allows burning a daily amount of ethers.
Other relevant cryptocurrencies by market capitalization are also on the rise. Polkadot (DOT) Up 9%; while litecoin (LTC) and dogecoin (DOGE) appreciate by 18%. On the other hand, cardano (ADA) is up more than 48%, and XRP gained more than 60%. These last two are in the weekly top.
Ripple establishes alliance with South Korean remittance company
In an ad posted on the Ripple blog, the company behind XRP cryptocurrency, reports that Global Money Express Co. Ltd (GME Remittance), one of South Korea’s largest non-bank remittance service providers, has joined the RippleNet platform.
“This partnership, established through SBI Ripple Asia, a joint venture between SBI Holdings and Ripple, will accelerate and scale payments from South Korea to Thailand,” the brief added. For example, it is expected that some 184,000 Thai citizens residing in South Korea use the platform to send remittances.
The news was released on August 10, coinciding with the rise in the price of XRP. Cryptocurrency rose by more than 60% in the last seven days, reaching a maximum of USD 1,339 this August 14.
In another series of events related to cryptocurrency, Ripple Labs, the company that handles XRP, appears to continue to gain points in the legal process it faces for the lawsuit filed against it by the United States Securities and Exchange Commission (SEC).
Recently, the judge handling the case granted the motion to Brad Garlinghouse, CEO of the company, requesting access to Binance documents. As reported in this medium, the legal team seeks to demonstrate, through Binance documents, that the transactions made by Garlinghouse with XRP were carried out on a platform located outside the US.
So far, most of the progress of the lawsuit has been in favor of Ripple and have positively influenced the price of XRP. As of press time, the market capitalization of XRP is $ 58.435 million and the daily trade volume is $ 8.525 million.
Cardano prepares to implement smart contracts
For next September 12 it is planned to activate the Alonzo update on the Cardano network. It is expected that with this hard fork smart contracts will arrive on this blockchain, one of the most anticipated functions by this community, according to point on Twitter the company behind the development of this project, Input Output.
The interest in this tool is due to the fact that, with the advent of smart contracts, the Cardano community it will facilitate the creation of decentralized applications (DApps) among other variety of functions.
Through a video posted on YouTube, Nigel Hemsley, Cardano’s chief delivery officer, noted that the project’s engineering teams and test teams are working hard “as they rapidly move toward hard fork combinator«.
As of the dissemination of this news, the price of the network’s cryptocurrency, ADA, initiated a sustained rally that peaked at $ 2.22 this August 14.
On average ADA appreciated by more than 47% in seven days. The market capitalization is USD 67,873 million and the daily trade volume is USD 4,297 million.
Waves Expands Its Digital Duck Market In NFT
In an information published on Medium, Waves talks about the progress made with the Waves Ducks contest, based on the breeding of digital ducks in non-fungible token (NFT) format that has been running since last April. For this August 12 announced the launch of the «baby ducks».
With this new NFT market, Waves promises contest participants to obtain higher income from the multiplication of digital pets. It ensures that those interested can enter the game with less money through a new token issuance mechanic.
Meanwhile, the platform’s cryptocurrency it skyrocketed in value between August 13 and 14. The advance took WAVES to a high of $ 26 this Saturday the 14th. The weekly average closes above 47%.
The current capitalization of WAVES is USD 2.46 billion and the daily trade volume is USD 204 million.
Stellar partners with Bitso to expand services in Latin America
The Stellar Development Foundation (SDF) announced on August 10 that Bitso, the exchange that operates in Mexico, Argentina and Brazil, will begin integrating Stellar USDC for its clients in Latin America.
According to published information on the Stellar blog, the new partnership will allow Bitso to use the stablecoin USDC issued on this platform as an active bridge and ramp asset between Latin America and the US. In doing so, they aim to reduce costs, speed up transactions, and enable their more than 2 million users to benefit from a cheaper USD.
It is hoped that by integrating with Stellar, Bitso will be able to help anchors and Stellar partners in Latin America with deposits and withdrawals, in addition to remittances, according to the brief. With this, they will expand the reach of the Stellar ecosystem in Latin American markets.
In this context, lumens (XLM) earned more than 29% in seven days. Its price It ranged from a low of $ 0.282 to a high of $ 0.397 on August 14. The market capitalization is estimated at USD 8,971 million and the daily trade volume is USD 844 million.
IOTA launches new app with Ledger wallet support
In an official blog post, the IOTA team reports on the release of the Firefly 1.2.0 application, which introduces support for the Ledger Nano hardware wallet. This allows Ledger users to migrate their funds to Ledger’s new network, called Chrysalis, to experiment with the IOTA protocol.
The note Explain that Firefly is currently available on Mac, Windows, and Linux. “Firefly version 1.2.0 comes with USB support for Ledger Nano S and Ledger Nano X devices,” they say. They add that the feature has been thoroughly tested by a group of about 50 community members over an extended period.
The price of MIOTA, the native cryptocurrency, began to rise shortly after the announcement, made on August 10. Since that date, constant progress, although with slight corrections. The rise became noticeable on the 14th, reaching a maximum of $ 1,158.
MIOTA average gained more than 27% in the week. As of press time, the market capitalization is USD 3,119 million and the daily trade volume is USD 39 million.
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XRP and Cardano are the first of the weekly top: the market continues to rise