Over the course of the week of February 14-20, 2021, the market is mostly bullish, largely driven by the growth of bitcoin. The price of more than 90% of the altcoins registered advances that exceed 140%, according to the statistics of Live Coin Watch.
The most appreciated cryptocurrencies in these seven days are headed by Stratis (STRAX), whose wrapped token can now be traded on the Ethereum testnet. Follow him Dash (DASH), which made alliances with several companies throughout the week; Y 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; Y 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 February 16, 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 in market capitalization.
Many attribute the $ 50,000 breakout 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 in 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 $ 2,000 barrier for the first time in its history, the cryptocurrency registers an increase of more than 170% in one year.
This week, the total deposited in the staking of the network validators 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 around 9.4% of its value.
Stratis prepares to launch its token wrapped in Ethereum
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 set up between February 14-15. On the 16th, the Stratis Interflux chain was tested for interoperability between blockchains, which allowed transact with the token on the Ropsten sandbox of Ethereum.
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, through 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.
In the last seven days the price of STRAX has increased by more than 140%. Source: Live Coin Watch.
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 altcoin betting, rewards and insurance. The idea of the team 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. Average growth was 53% for the week.
Other information related to cryptocurrency was released the following days and notes 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 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 on February 18, when it was quoted at USD 291. It peaked at USD 329 on February 20.
On 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 the owners of the cryptocurrency investing in real estate.
The market capitalization of DASH is $ 3.13 billion and the 24-hour trading volume is $ 1.049 billion.
The price of DASH had a rise of more than 90% in the last 7 days. Source: Live Coin Watch.
Polkadot updates roadmap for the implementation of its blockchain networks
In an update to its roadmap for 2021, the Polkadot project explained the parameters for the activation of your 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 they will first complete a trial period on the Rococo testnet. They will then go 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 attached to Rococo, the team notes on Twitter.
DOT has been on a steady rise since February 15, reaching a peak of $ 42,171 on February 20. The market capitalization is USD 37,677 million and the daily trading volume is USD 3,472 million.
So far Polkadot has 7 parachains integrated into its test network. Source: Live Coin Watch.
Lisk transactions increase due to portfolio update
In a note posted on their blog on February 15, the Lisk team urges users of the cryptocurrency to make transactions to restart your 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 on the rise since last week, when the cryptocurrency also ranked at the top. Lisk entered AirTM’s list of new cryptocurrencies and joined BitFlyer’s staking service, we reported. In these last seven 7 days your average climb is more than 44%.
According to Lisk’s post, the developers decided make some changes to the portfolio for desktop, which include the mandatory step of re-registering and transacting. “A new application for account reset comes with desktop version 1.28.0, which will be released next week,” the note clarifies.
All this happens while working on a series of changes already announced in the 2021 roadmap, which includes an improvement proposal for a new address system, along with the release of Lisk Core 3.0.0.
LSK’s market capitalization is $ 474 million and daily trade volume is $ 86.3 million.
Lisk is in the weekly top for the second week in a row. Its growth in seven days was more than 44%. Source: Live Coin Watch.
They complete stress tests at NEM Symbol
The testnet of NEM’s new Symbol blockchain ended 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 reach the top of CriptoNoticias. In seven days, the price went from a minimum of USD 0.329 to a maximum USD 0.556 on 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, according to other tweets released this week.
At time of writing, XEM’s market capitalization is $ 4.789 million and its daily trade volume is $ 358 million.
The price of XEM has risen substantially since February 19, registering a growth of more than 40% for the week. Source: Live Coin Watch.