From August 16 to 22, 2021, the cryptocurrency market registers a series of ups and downs. Around 75% altcoins continue to grow with averages that reached over 140%, while the rest show a downward trend according to Live Coin Watch statistics.
The weekly top is headed by avalanche (AVAX) which launches an incentive to offer liquidity mining for Curve and Aave .; and polkadot (DOT), which opened the registry for a hackathon focused on its ecosystem.
They follow dash (DASH) with new integrations to your Android mobile wallet; and cardano (ADA) that exceeds its historical maximum and manages to position itself in third place by market capitalization.
The five cryptocurrencies are completed with lisk (LSK), which this week activated version 3.0 of its software on the mainnet.
The price of bitcoin continues to rise, approaching $ 50,000. Despite a slight correction that took its value below $ 45,000 on August 19, the pioneering cryptocurrency resumed its advance to reach a peak of USD $ 49,676 on August 21. On average it gained 6.6%.
As published by CriptoNoticias, analyst Willy Woo explains that the rise in the price of BTC is driven by a strong activity of spot purchases by long-term investors.
It thus points out that it has gone from a largely speculative market at the beginning of the year (in which high levels of leverage were used), to a market where the volume of immediate sale dominates.
On the other hand, ether (ETH), the cryptocurrency of Ethereum, also rises in price. This week its value ranged between USD 2,974 and USD 3,294. On average, their progress was above 2%.
Two weeks after activating the London update on the Ethereum blockchain – implementing EIP 1559 – about 73,916 ETH have been burned, equivalent to $ 238 million in Etherscan data.
With this, a change was introduced in the network’s commission scheme. Some users They still hope that with this update the high commissions of the network will go down, which has not happened and will not happen in the short term, as explained in previous CriptoNoticias articles.
Other relevant cryptocurrencies by market capitalization show ups and downs. Litecoin (LTC) loses 3.5% and dogecoin (DOGE) appreciates by 6%. This, while cardano (ADA) advances more than 22%, and polkadot (DOT) rises by 25%. Both are in the weekly top.
Avalanche Offers $ 180 Million In DeFi Liquidity Mining Incentives
On Wednesday, August 18, the Avalanche Foundation reported on the launch of a $ 180 million liquidity mining incentive program. The initiative, called “Avalanche Rush,” is designed to introduce more decentralized finance (DeFi) projects into the Avalanche ecosystem.
Through a Twitter announcement The project team explained that the program will bring two of the largest DeFi protocols by total blocked value to this network: Aave and Curve.
They add that the first phase of Rush will give, as cash draw incentives for Aave and Curve users, the platform’s native token, AVAX. Although the date is not specified, it is estimated that this will occur in a short period of time and last for a period of three months.
The news significantly boosted the price of AVAX, which has been steadily advancing since August 18. For this August 21 it had a peak of more than 49 dollars per unit. On average its rise has been above 145%.
At press time, AVAX’s market capitalization is USD 7,424 million and the daily trade volume is USD 1,120 million.
Polkadot opens registry for hackathon focused on its ecosystem
In an information published on Medium, Polkadot announces the launch of a hackathon focused on the development of its ecosystem. This week the participant registration period has been opened, which will close on September 9
The competition is organized in conjunction with Encode Club, a community of university students, researchers and developers from some 100 universities who design blockchain projects. They tend to run hackathons and have a startup accelerator and talent placement program.
Therefore, once the event is over, the participating projects may apply for the Polkadot Accelerator 10 weeks, led by Encode. Some USD 30,000 in prizes will also be awarded.
In this context, the platform’s cryptocurrency skyrocketed in value since August 16, with some corrections the following days. The advance took DOT to a high of $ 29.27 on Aug. 21. The weekly average closes at 25%.
The current capitalization of DOT is USD 28,235 million and the daily trade volume is USD 979 million.
Dash integrates with the Liquid Exchange platform
This week Dash unveiled the integration of the Quick Exchange feature, from the exchange house Liquid, into its Android mobile wallet app. As a result, DASH users will be able to buy the cryptocurrency directly within Dash Wallet using a VISA card.
According to the note posted on Liquid’s blog on August 16, Quick Exchange was designed to make buying and exchanging cryptocurrencies quick and easy.
“Users who use the application receive a quote in their national currency or can select any of the more than 50 fiat currencies to view their price quotes,” the letter explains. The integration process will be completed in three phases, which will include the exchange between cryptocurrencies.
As part of the integration release, Dash and Liquid also They have announced a promotion for users of Liquid’s Quick Exchange solution through Dash Wallet, which will allow win up to $ 1,000 from August 16 to September 16, 2021.
The announcement appears to have favorably influenced the price of DASH, which began to rise shortly after the message was broadcast. Even so, the value of the cryptocurrency fell in the following days, to rise again from the 19 and reach a peak of USD 247 on August 21.
On average DASH gained more than 22% for the week. As of press time, the market capitalization is USD 2,435 million and the daily trade volume is USD 278 million.
Cardano exceeds its ATH and reaches third place by market capitalization
The price of Cardano exceeded its all-time high (ATH) on Thursday, August 19, when it surpassed the USD 1.31 that it had reached last February. With this growth it is positioned as the third most valuable cryptocurrency on the market, above Binance Coin and only below bitcoin and ether.
The company behind the development of this project, Input Output, announced this week the Cardano Summit 2021 event, which will take place on September 25 and 26 and will be part of the development of its ecosystem.
By that date the network you will have already activated the Alonzo update, which will run on September 12. It is expected that the “hard fork combinator” will allow the activation of smart contracts in Cardano, one of the functions most anticipated by members of this community.
In the midst of these advances, ADA, the network’s native cryptocurrency, is ranked in the top weekly of CriptoNoticias for the second consecutive week. The Sustained price rise started from August 14, and it has dragged on over the last seven days, with some ups and downs.
The price rise became dizzying in the last hours, when the maximum of ADA is located at USD 2.64, which represents more than 100% of your ATH.
On average, the cryptocurrency appreciated by more than 22% in the week. ADA’s market capitalization is $ 82.09 billion and daily trade volume is $ 3.982 billion.
Lisk updates its software to version 3.0
Lisk’s blockchain executed a new update on August 21. According to the message spread on their social networks, the platform released version 3.0 on your main network. The hard fork was activated at block 16,270,292.
Among the improvements of the new version, there is talk of a consensus algorithm that will prevent the blocks from ever being reversed.
Much emphasis has also been placed on polishing the Lisk codebase, improving the end experience for users and developers alike. The project has also started a concerted push to focus on interoperability between blockchains.
Under this fork, the LSK cryptocurrency gains more than 16% in seven days. Its price Ranged from a low of $ 4.15 to a high of $ 5.35 on August 20. The market capitalization is estimated at USD 574 million and the daily trade volume is USD 18 million.