During the week of February 14 to 20, 2021 the market is mostly on the rise, largely driven by the growth of bitcoin. The price of more than 90% of altcoins registers advances that exceed 140%, according to Live Coin Watch statistics.
The most appreciated cryptocurrencies in these seven days are headed by Stratis (STRAX) , whose wrapped token can now be traded on the Ethereum testnet. They are followed by Dash (DASH) , which made alliances with several companies throughout the week; and Polkadot (DOT) that advances the integration process of its blockchain networks.
The weekly top closes with Lisk (LSK) , which has an account update process in place; and NEM (XEM) , which is moving forward with testing transactions for its Symbol blockchain.
This week the price of Bitcoin broke the psychological barrier of $ 50,000. The cryptocurrency traded in ranges that moved between $ 46,500 and a maximum of $ 57,536, which it experienced on February 20. The average growth was 21.8% in seven days .
After some corrections, the value of BTC rose significantly from the 16 of February, to reach almost $ 55,000 per unit that same day. On February 19, the cryptocurrency reached a new important milestone in its bull cycle, surpassing 1 trillion dollars of market capitalization.
Many attribute the breakout of $ 50,000 to the announcement that MicroStrategy, one of the companies leading the wave of institutional investment in bitcoin, will seek to raise another $ 1.05 billion to invest in the cryptocurrency. Although some analysts had already considered that the breakdown of that brand was a matter of time.
Ether (ETH), on the other hand, also increased its value substantially. Their average progress was 12%. The price ranged between USD 1,698 and USD 2,036 in these seven days. By breaking the barrier of $ 2,000 for the first time in its history, the cryptocurrency registered an increase of more than 170% in one year .
This week, the total deposited in the staking of the validators of the network already reaches 3,100,000 ETH, according to data from the portal Launchpad.ethereum. This represents 2.7% of the total supply of ethers.
Other relevant cryptocurrencies by market capitalization register ups and downs in their prices. Litecoin (LTC) appreciated by 12.5%; and Cardano (ADA) grew by 21.5%. At the same time, Polkadot (DOT) had a 46% rise and was in the weekly top; and Ripple’s XRP lost about 9.4% of its value.
Stratis prepares launch your Ethereum wrapped token
According to information published on his Twitter account, wSTRAX, a wrapped token that will be launched on the Ethereum network on March 8 . The announcement was made on February 13, shortly before the network’s cryptocurrency, STRAX, will start to rise in price significantly. On average, it appreciated 140% in seven days.
The plan is for the wrapped token to be used in DeFi applications, and decentralized exchanges that operate on the Ethereum blockchain.
According to the release schedule, the masternode for the trial version of the wSTRAX wallet was configured between February 14-15. On the 16th, the Stratis Interflux chain was tested for interoperability between blockchains, which allowed to carry out transactions with the token on the Ethereum Ropsten test network.
Shortly after this announcement, the value of STRAX peaked at $ 2.51 on February 19. Price growth remained constant throughout the week.
Additionally, Stratis established an alliance with the online travel agency Travala , by which STRAX becomes part of the list of cryptocurrencies that can be used on the website’s platform. Since February 17, holders of the cryptocurrency can make discounted reservations at a large number of hotels and airlines in various countries around the world.
The market capitalization of STRAX is USD 278 million and the daily trade volume is USD 94 million.
Dash establishes alliances and prepares to launch a stablecoin
A tweet posted on Dash’s Twitter account announces its partnership with OIN, a platform for managing bets, rewards and insurance altcoins. The team’s idea is to launch an anchored cryptocurrency solution soon or stablecoin backed by Dash, in order to venture into DeFi product development.
The spread of the event coincided with a growth in the value of the cryptocurrency that went from USD 206 to USD 284 on the same day. The average growth was 53% in the week.
Other information related to the cryptocurrency was released the following days and indicates that the Dash Investment Foundation invested $ 100,000 in Quadency, a professional trading and automation platform. Quadency said they are in the process of rolling out an update that will allow merchants to interact with the FastPass payment service through a unified instrument.
The price of DASH remained more or less stable the following days, increasing its value again for February 18, when it was quoted at USD 291. It reached a maximum of USD 329 this February 20 .
For February 18 Dash established a third alliance, in this case with the UK-based real estate fund, London Digital Bonds , which operates the SolidBlock platform. This will allow cryptocurrency owners to invest in real estate .
DASH’s market capitalization is USD 3.13 billion and the volume trade in 24 hours is 1,049 million dollars.
Polkadot updates a roadmap for the implementation of its blockchain networks
In an update to your roadmap for this 2021, the Polkadot project explained the parameters for the activation of its small networks blockchains or parachains (parachains) , which are the essential components of this platform. The publication of the document coincided with the growth of the value of DOT, which this week had an average advance of 46%.
According to the document published on the official site and reported in CriptoNoticias, the parachains first they will complete a trial period in the testnet Rococo. They will then go on to the Kusama network, operated by the same team, to later integrate into the Polkadot code base once they pass the audits.
So far, about 7 parachains have been connected to Rococo, notes the team on Twitter.
DOT has recorded a steady rise since February 15, reaching a peak of USD 42,171 on February 20. The market capitalization is USD 37,677 million and the daily trading volume is USD 3,472 million.
Lisk transactions increase per update from your portfolio
In a note published on his blog on 15 February, the Lisk team urges users of cryptocurrency to make transactions to restart their accounts . They explain that the step is required after making updates to the portfolio. They assure that due to the constant increase in the price that has been observed in LSK for a week, these actions are necessary to keep the account safe and protected.
The value of LSK has been rising since the week last, when the cryptocurrency also ranked at the top. Lisk entered AirTM’s list of new cryptocurrencies and joined the staking service from BitFlyer, as we reported. In these last seven 7 days his average ascent is more than 44% .
According to Lisk’s post, the developers decided to make some changes to the desktop wallet, including the mandatory step of re-registering and transacting. “A new application for account reset comes with version 1.28.0 for desktop, which will be released next week,” clarifies the note.
All this happens while They are working on a series of changes already announced in the 2021 roadmap , which includes an improvement proposal for a new address system, together with the release of Lisk Core 3.0.0.
LSK’s market capitalization is USD 474 million and daily trade volume is USD 86.3 million.
Complete stress tests in NEM Symbol
The testnet of the new blockchain Symbol of NE M completed on February 18 a stress test of 400 transactions per second (tps). According to the information published by the NEM team, the test worked well and the network maintained complete blocks throughout the process. The definition of the schedule for the launch of Symbol is still awaited.
Within the framework of this announcement, the price of XEM, NEM’s cryptocurrency, increased more than 10% in 24 hours to settle in the top of CriptoNoticias. In seven days the price went from a minimum of USD 0.329 to a maximum USD 0.556 this February 20, for an average weekly advance of 40%.
The cryptocurrency also entered the list of crypto assets for Margin trading on the Indian exchange CoinDCX, and on the Malta-based exchange Bequant, as read in other tweets released this week.
As of this writing, XEM’s market capitalization is of USD 4.789 million and its daily trading volume is USD 358 million.
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