Over the course of the week of November 14-21, altcoins rise almost at the same rate as bitcoin (BTC). About 95% of the cryptocurrencies on the market see increases in their prices and achieve increases of around 60%, according to statistics from Coin Check Up.
The most appreciated cryptocurrencies in these seven days are led by Waves (WAVES), with the public launch of its blockchain voting system; Ripple XRP, which advances in the integration of smart contracts; Y Litecoin (LTC), for the record of an increase in funds at Grayscale.
The weekly top of outstanding cryptocurrencies is completed with Ethereum Classic (ETC) preparing for an upcoming network upgrade; Y Decred (DCR), whose platform is being used by candidates for elections in Brazil.
As for the price of bitcoin, the cryptocurrency follows the rally started a few weeks ago that has led it to overcome milestones. In these seven days BTC has been above the $ 16,000 that it reached a week ago, reaching more than $ 18,000 on November 18. The BTC weekly advance is estimated at 17.9%.
According to data shown by Willy Woo, the flow of capital that is entering the bitcoin market is at its highest rate. It is an organic movement that is correlated with the price of the cryptocurrency. The analyst considers that this fact may be a sign that the current bull run is sustainable over time.
The price of Ether (ETH), of Ethereum, also advanced substantially this week, oscillating between $ 441 and $ 512, for a average weekly rise of 12.4%. Cryptocurrency breaks 500 resistance against the US dollar for the first time in more than 2 years. The network’s hash rate is also on the rise and has reached a new all-time high. Everything suggests that the community is possibly betting on the rise in the price of ETH after the launch of Phase 0 of Ethereum 2.0.
The prices of other relevant cryptocurrencies on the market they also register substantial growth, which place them in the weekly top. Ripple’s XRP gains 53%; Ethereum Classic (ETC) appreciates 30%; and Litecoin (LTC) is up 35%.
Waves launches commercial version of its blockchain for voting
Waves Enterprise, a business subsidiary of the Waves project, announced the public launch of its blockchain voting system primarily targeted to all organizations that make decisions based on voting, including company boards of directors. The information was released on November 18, while WAVES remains in the weekly top for the third consecutive week. On average, its progress is estimated at 59.5%.
According to what is published on the Waves blog, the voting service has already been created and tested in order to measure its security system, so the commercial version is ready to be used for free up to 20 votes. If the number of voters is greater, quarterly packages are offered in the amount of 65 to 590 euros.
This Waves voting technology was recently tested in Russia during its local and parliamentary elections. The team says the experience showed the platform is ready for deployment, but the public product has some differences compared to the one used in Russia.
Meanwhile, in these seven days the price of the cryptocurrency had a constant growth, oscillating between a minimum of USD 4.25 and a maximum of USD 7 on November 20. The price gained greater momentum since this last date. WAVES market capitalization is USD 671 million and last 24 hours trade is USD 257 million.
Waves offers its blockchain platform for voting to corporate clients. Source: Coin Check Up.
Ripple’s blockchain integrates new function for smart contracts
A new function that allows making smart contracts was implemented on the Ripple (XRP Ledger) blockchain this November 18. This is a new code called “Hooks” developed by XRP Labs CEO Wietse Wind, who explained the details on Twitter. This while the network’s cryptocurrency, XRP, rises in price and achieves a weekly advance of 53%.
As published in CryptoNews, Hooks consists of a series of assembly modules designed for XRP Ledger, which run on the Ripple ledger and are written in non-complete Turing language. Meanwhile, the price of XRP has registered an upward momentum since November 19, which has grown stronger since the 20th and has been accentuated in the last hours. Its value went from USD 0.2736 at the beginning of the week to USD 0.4209 at the time of writing.
The XRP Labs team also announced their advancements on XUMM, a decentralized smart app that combines some features of traditional online banking. This week the latest beta version 0.6.0 was released. To date, XRP’s market capitalization is $ 17.74 billion and the 24-hour trading volume is $ 16.23 billion.
This week the Hooks code was implemented on Ripple’s XRP Ledger blockchain. Source: Coin Check Up.
Litecoin Funds at Grayscale Increase Over 200% in 3 Months
The amount of funds in Litecoin that the fund manager and cryptocurrencies Grayscale Investments has under protection, increased 267% in the last three months, according to a tweet published on November 16. The date of this announcement coincides with the beginning of a sustained rise in the price of LTC, whose growth is estimated at 35%.
According to the Grayscale data, the amount of the Funds in Grayscale Litecoin Trust to date amount to $ 53 million, a significant increase considering that last August the figure was USD 19.8 million. The value of LTC peaked at $ 85.14 on November 20. The rise in price has been sustained in recent days with a significant increase in recent hours.
With the rise in LTC assets managed by Grayscale, the cryptocurrency moves to fourth place on the list, outnumbering the Bitcoin Cash funds at Grayscale, which was previously in fourth place. At the close of this report, the market capitalization of LTC is estimated at USD 5.66 billion and the trading volume in the last 24 hours is approximately USD 8.17 billion.
The price of Litecoin started to rise significantly from November 16. Earn about 35% in seven days. Source: Coin Check Up.
Ethereum Classic gears up for Thanos update
Ethereum Classic prepares to implement Thanos ECIP-1099, your next network update scheduled for November 28, at the height of block 11,700,000. Therefore, all node operators should update their software as soon as possible. Within the framework of this process, the cryptocurrency experiences significant growth, calculated at 30% in the last seven days.
One of the goals of the update is to reduce the size of the directed acyclic graph (DAG) for miners. The idea is to allow miners with 3GB and 4GB GPU systems resume extraction of ETC. The price of the cryptocurrency began to rise from November 16, with twelve days remaining for the update. The value of ETC has risen continuously since that date, reaching a peak of $ 6.37 on November 21.
With Thanos too seeks to prevent attacks of 51% to which the network has been exposed in recent months. It is intended to avoid the dominance of ASICs, so miners such as Innosilicon 10 and Antminer E3 will be left out of functional equipment for mining. At the time of writing, ETC’s market capitalization is $ 751.3 million and its daily trade volume is $ 1.5 billion.
All ETC node operators should update their client software as soon as possible. The price of the cryptocurrency rises more than 30%. Source: Coin Check Up.
Politicians in Brazil use Decred to register donations
11 candidates in the mayoral elections of the city of São Paulo in southeastern Brazil use Decred’s blockchain for raising funds for your election campaign. At the same time, the price of DCR has been increasing for several weeks, this being the third consecutive week in which the cryptocurrency is located in the top of CriptoNoticias. Their average progress is 29%.
In messages posted on Twitter, the company shares media publications on the subject, highlighting that candidates register through the Voto Legal campaign financing platform. There transaction details and timestamp are recorded on the Decred blockchain. Meanwhile, DCR reaches a peak of 23.2 dollars on November 20, registering a sustained growth rate since the 17th. This after some corrections the previous days.
Donations for candidates are made in Brazilian reals (BRL). Until now 24,139 donations have been made to the 11 candidates and a total of USD 607,373 (3,261,597 BRL) has been tracked on Decred since May 2020. Interest in blockchain has become evident in Brazil in 2020. This week, the Superior Electoral Court (TSE) tested four electronic voting systems that use this technology.
As of the end of writing, DCR’s market capitalization is $ 283 million and daily trade volume is $ 8.9 million.
Decred’s platform is used by politicians in Brazil. The cryptocurrency and ranks for the third consecutive week in the weekly top. Source: Coin Check Up.