From June 21 to 26, 2021, the cryptocurrency market is shown with balances in red. Close to 100% of altcoins maintain a downward trend following the pattern set by bitcoin (BTC), according to Live Coin Watch statistics.
In the midst of this fall, certain news related to some cryptocurrencies stand out, putting them in a position of greater public interest this week. Under this criterion the top is headed by Ripple’s XRP, that this week he obtained a new advantage in the lawsuit filed with the United States Securities and Exchange Commission (SEC).
They follow him, dogecoin (DOGE), where the developers and Musk push for a commission reduction proposal; Y shiba inu (SHIB), which sees significant growth in its followers on Reddit. The top closes with stratis (STRAX), which launches a development kit for Unity games.
The price of bitcoin continues to plummet, although, between rises and falls, it remains lateralized between USD 30,000 and USD 36,000 in recent days. However, this week BTC suffered a drop that brought the price below $ 30,000, a value that has not reached since last January.
On average, the pioneering cryptocurrency lost 14.4% in seven days, to trade at $ 30,887 at the time of writing.
On the other hand, ether (ETH), the cryptocurrency of Ethereum, also registered a significant decline. On average, it lost 21.9% of its value. In these seven days the price moved between USD 2,260 and USD 1,738.
In this regard, a new report from the analysis firm Glassnode indicates that both Bitcoin and Ethereum have experienced a dramatic slowdown in activity on the chain. They particularly stand out the downturn in active directions and volume of money moved in both networks.
Although the two blockchains are experiencing a negative moment, Ethereum has worse indicators than Bitcoin, according to data from Glassnode. Bitcoin has had a considerable reduction of active addresses (sending or receiving bitcoins).
But, while in Bitcoin the activity has dropped up to 24% With respect to the level of 1.16 million that was largely sustained between March and May of this 2021, the fall of active addresses in Ethereum is stronger in percentage terms, with 30% less than a level seen between April and May.
Meanwhile, the prices of other relevant cryptocurrencies by market capitalization are also falling. XRP loses 25%, while litecoin (LTC) depreciates by 23%; polkadot (DOT) drops 34%; and cardano (ADA) fell 13%.
Court grants Ripple access to SEC’s internal policies
On June 23, Magistrate Judge Sarah Netburn approved the request of the company Ripple Labs to access the internal trading policies of the United States Securities and Exchange Commission (SEC). The information was released by Ripple’s defense attorney, James K. Filan, through a tweet.
“Defendants’ request to access SEC’s internal trading policies is granted. The Court determines that the requested information meets the minimum requirements of relevance “, comments Filan, who sees in this decision a new point in favor of Ripple.
Throughout a thread of three tweets, the lawyer shared the most relevant details of the decision made by the judge. Explain that the documents the defendants are looking for in this application are relevant because show how the SEC itself has categorized and classified XRP and other cryptocurrencies, including bitcoin and ether, according to their own policies.
“The SEC’s treatment of cryptocurrency trading, including any distinctions it draws between XRP and other digital assets, is directly relevant to showing the SEC’s own perspective on cryptocurrencies,” the message adds.
Meanwhile, the price of the cryptocurrency rises on June 23, after having fallen along with most altcoins.
The price of XRP had been growing since April, when the price manages to exceed USD 1,500, although it falls again in May. Even so, it is an important advance after the slump he experienced from the lawsuit that the SEC filed against him last December, alleging that the cryptocurrency is an unregistered security.
In this context, several decisions made by the judges in recent months seem to tip the balance in favor of Ripple, influencing the relative recovery of the price of XRP.
The current capitalization of the cryptocurrency is $ 28.06 billion and the daily trading volume is $ 2.178 billion.
The price of XRP had surpassed $ 1,000 in the first days of June. Source: Live Coin Watch.
Dogecoin Developers and Elon Musk Push for Commission Reduction Proposal
Cryptocurrency meme dogecoin (DOGE) made headlines again this week thanks to a tweet from Tesla founder Elon Musk.
Social networks are once again the scene of debate on cryptocurrency. This, once Musk responds affirmatively, via Twitter, to the call from Dogecoin co-founder Billy Markus for the Dogecoin community to keep the coin themed on the “funny and absurd” Shiba Inu dog breed.
Prior to that, Musk attended the tweet of another of the developers, Ross Nicoll, in which promotes a proposal to reduce commissions. The developers and Musk intend to introduce fees of 0.01 DOGE. Reducing transaction fees by 90% is one of the key goals, and Tesla’s owner called the idea – originally launched by Dogecoin’s lead developer Michi Lumin – as “a major improvement.”
On this basis, a proof of concept was made on June 23. The same day, DOGE price started to rally after experiencing a major correction from the 20th. By Friday 25 the cryptocurrency reaches a maximum of USD 0.281, although until the closing of this writing it maintains a downward trend.
DOGE’s market capitalization is USD 31 billion and the daily trade volume is USD 3,257 million.
The price of DOGE rebounded again on June 25, reaching a high of $ 0.281. Source: Live Coin Watch.
Shiba Inu subreddit grows 60% in the second quarter of 2021
The number of registered users on the Shiba Inu (SHIB) subreddit has seen a dizzying growth of almost 60% in the second quarter of 2021. According to statistics from Subredditstats.com, the r / ShibaInuCoin forum had approximately 90 subscribers at the beginning of the month. of April. At the time of posting the forum has more than 56,000 subscribers.
SHIB was launched in early April with a price of $ 0.00003 and thanks to the “Dogecoin phenomenon” it registered a meteoric rise of 140% after being listed on Huobi Global, KuCoin, and on the Binance futures markets. More recently the new meme cryptocurrency was incorporated into Coinbase Pro, although some technical issues have been delaying the launch for trading.
In this way, the followers of the token are still waiting for the SHIB trade. Meanwhile, the cryptocurrency remained at constant values throughout the month of June, falling with the rest of the market for June 11 and 23. Nonetheless, manages to rebound slightly on several occasions driven by social networks, similar to what happens with Dogecoin.
SHIB’s market capitalization is USD 4,136 million and the daily trade volume is USD 534 million.
The price of SHIB grew dramatically in May, shortly after its launch in April 2021. Despite subsequent corrections, its value remains more or less constant. Source: Live Coin Watch.
Stratis Releases Unity3D Game Development Kit
A few weeks ago the Stratis team announced the release of the Stratis Unity SDK, a development kit that is now available to all Unity3D game developers, who will be able to create blockchain applications using the Stratis platform.
According to the message posted on its corporate blog, the kit offers expanded Unity 3D support on Stratis Blockchain Technologies, which includes a minimal wallet. This will allow the STRAX token used in the creation of games, as well as the InterFlux Hub interoperability protocol, which facilitates work with Stratis and Ethereum smart contracts, written in C # language.
In this context, during this month the price of STRAX remained on a constant rise until June 11, reaching a maximum of USD 1.76 on the 6th. The upward trend recovers after the general fall of this Wednesday 23. Despite this, the cryptocurrency registers a slight upward trend in the last hours.
At press time, STRAX’s market capitalization is $ 117 million and daily trade volume is $ 3.8 million.
Throughout the month of June, the price of STRAX began to rise until June 11, reaching a peak of USD 1.76 and then falling with the rest of the market. Source: Live Coin Watch.