From November 8 to 14, 2021 the market has ups and downs again. About 60% of cryptocurrencies show a downward trend. This, while the altcoins that rise have rises of up to more than 30%, according to Live Coin Watch statistics.
The weekly top is headed by litecoin (LTC), included in the list of cryptocurrencies with which tickets can be paid in US cinemas; Y zcash (ZEC), which enabled cross-trading on its platform.
They follow dash (DASH), which activated a new version for the Dash Platform testnet; Y avalanche (AVAX), which this week integrated the stablecoin Tether (USDT). The list of most appreciated cryptocurrencies closes with decentraland (MANA), whose fund in Grayscale registers a growth of more than 200% in one month.
Bitcoin (BTC) returned to a new all-time high (ATH) this week trading at $ 68,641 on November 9. On average, their advance was 4.3%.
As reported by CriptoNoticias, the tendency to accumulation combined with a growing demand as a form of coverage in the face of the unstable macroeconomic climate, is one of the main reasons for the price increase.
Plan B analyst, using his Stock to Flow prediction model, predicts that this uptrend will continue in the near future. It claims that the pioneer cryptocurrency will hit $ 100,000 by the end of this year.
Meanwhile, ether (ETH), Ethereum’s cryptocurrency, it broke its all-time high again, joining bitcoin and a major group of altcoins that are also breaking their ATHs in recent weeks.
After surpassing $ 4,782, ether surpassed the $ 4,400 mark set just last October 29. The cryptocurrency continued to rise throughout the week reaching another high of more than USD 4,800. Despite this, in the last seven days it lost on average more than 0.3% of its value.
Other relevant cryptocurrencies by market capitalization show, for the most part, a downward trend. Dogecoin (DOGE) lost 0.3%; XRP depreciated 0.5%; and Polkadot (DOT) fell by more than 13%.
Only cardano (ADA) gained 2.4% of its value. This, while litecoin (LTC) was targeted more than 30% to be placed in the top of the most appreciated of the week.
Movie tickets can now be paid for with litecoin in the US.
As reported by CriptoNoticias, this week the American cinema chain AMC enabled the possibility of buying tickets to its functions using bitcoin and ether (ETH). The list also included litecoin (LTC) and bitcoin cash (BCH), although, for now, the option to pay with cryptocurrencies it is only enabled for online purchases.
The use of the Litecoin network (created in 2011) for movie ticket payments adds this company to a wide list of businesses that accept this cryptocurrency as a means of payment. According cryptwerk data, nowadays there are 3,126 merchants worldwide that accept LTC.
In relation to the growth of cryptocurrency as a means of payment, the Litecoin Foundation tweeted at the end of october on the launch of its Visa LTC debit card, powered by fintech startup Unbanked. Previously, it was notified Verifone’s partnership with BitPay, a payment processor that accepts litecoin.
Information about cryptocurrency payments at AMC was released on November 11. The fact influenced the rise in the value of LTC, which that same day began to increase in price. Although it was already registering a constant rise since November 8.
On average, LTC rose more than 30% in a week. The cryptocurrency peaked at $ 291 on November 10. The market capitalization is USD 17,726 million and the daily trade volume is USD 2,227 million.
Zcash enables cross-chain exchanges for ZEC
The Zcash Foundation team aannounced on his Twitter account that the exchanges of ZEC, the network’s cryptocurrency, are already enabled through the Thorchain decentralized liquidity protocol. This allows ZEC users to do exchanges with other cryptocurrencies, ERC-20 tokens and stablecoins, without the coin losing its privacy feature.
Thorchain is a project launched in 2020 that presents itself as a decentralized marketplace for exchanges cross-chain (between chains), which facilitates the use of cryptocurrencies from different blockchains without third-party custody.
According explains the Zcash team, The objective of the integration with Thorchain is to give the cryptocurrency support in a decentralized exchange (DEX) that facilitates cross-exchanges with native functionality. This avoids have to wrap ZEC with a custodian. This “opens up a tremendous opportunity for new and existing Zcash users to acquire ZEC through a simplified UX (user experience).”
ZEC increased about 23% in seven days. At press time, the market capitalization is USD 2,581 million and the daily trade volume is USD 312 million.
New version of Dash Platform launched on the testnet
In a message posted on Twitter on November 9, Dash Core Group inform about the launch in its testnet of Dash Platform v.021, a new version for this platform designed for the creation of decentralized applications.
According indicates dash in your blog post, the main purpose of version v0.21 is to define and implement a new update process network protocol.
In this way, Masternodes (master nodes) will signal when a new version of software is available. Thus, when most of the nodes have installed it, the network will be able to automatically update to the new version.
“The new version 0.21 contains other improvements, such as the numbering of the logical version of Drive Consensus and the serialization of data,” says the team.
They add that with this version they have also been revised DashPay wallet updates for Android and iOS. Users of the alpha testing program will receive the update after network stability is confirmed.
Shortly after the information was released, the value of the network’s cryptocurrency began to rise rapidly, despite successive corrections. By Wednesday, November 10, its value reached a maximum of USD 246.
On average DASH it went up more than 17% in one week. The market capitalization is USD 2,344 million and the daily trade volume is USD 304 million.
Stablecoin Tether se integra a la blockchain de Avalanche
In a message published on November 10 by the Tether team, it was announced the launch of the stablecoin USDT on the Avalanche blockchain. They explain that the process of incorporating USDT into Avalanche had already started in May of this year, but the integration was completed a few days ago.
In his writing Tether highlights the benefits of the Avalanche network, given “its low rates and lower environmental impact” compared to the other networks on which USDT operates. A property that, in his opinion, “has quickly turned it into one of the most used blockchains in the cryptocurrency market.”
The team’s goal is that USDT target decentralized finance (DeFi) and the applications and use cases that are in Avalanche. All this taking into account the rise in this network of a variety of loan protocols and decentralized exchanges (DEX).
They also highlight the total blocked value (TVL) of Avalanche, which is approximately USD 270 billion.
The price of AVAX, the network token, maintains an increase from the date of this announcement even though many fixes are noted. The cryptocurrency peaked at $ 98.61 on November 13. Average weekly growth it is estimated at more than 14%.
As of press time, the market capitalization is USD 20,471 million and the daily trade volume is USD 1,192 million.
Decentraland fund in Grayscale grows more than 200% in one month
According to the statements of the CEO of Grayscale, Michael Sonnenshein, the fund Grayscale Decentraland Trust, launched last February, has received a strong receptivity, increasing 943.8% since its creation and 235.9% in the last month.
Sonnenshein spoke at an event organized by Decrypt and Yahoo Finance. There he noted that the Grayscale Decentraland Trust currently it has USD 49.2 million under management.
The executive assured that the public’s interest in this product has risen in recent days, following Facebook’s announcement to change its name to Meta. He believes that thanks to this fund, investors’ exposure to the metaverse has increased.
This interest in metaverses has generated a significant advance in the value of MANA, the Decentraland cryptocurrency, in these seven days. In this period, a continuous rise was observed since November 10. The token peaked at $ 3.72 on the 12th, after experiencing several corrections.
The average growth of MANA was more than 11%. The market capitalization is estimated at USD 6,959 million and the daily trade volume is USD 1,361 million.
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Litecoin and Zcash top weekly top in a bumpy market