During the week from January 31 to February 5, the market shows signs of recovery. More than 80% of altcoins are trending upward. The growths almost exceed 60%, according to Live Coin Watch statistics.
The most appreciated cryptocurrencies in these seven days are headed by Cardano (ADA), which delegated $ 3.2 million to the network’s 100 community interest groups. Follow him Ripple XRP, which this week repeats in second place by being included in the loan system of the Japanese company SBI Group.
The list continues with Stratis (STRAT), whose ecosystem will be strengthened thanks to an investment from the Alphabit Digital Currency Fund; Y Beam (BEAM), which launches new atomic exchanges. The weekly top closes with Waves (WAVES) and its Neutrino Token (NSBT) airdrop scheduled for February 10.
In these seven days the price of bitcoin registered a significant increase, which on average is estimated at 10%. The pioneering cryptocurrency ranged from $ 32,400 to $ 38,300, experiencing a steady rise since February 1.
Market analyst Willy Woo predicts that the price of BTC reaches a cap of $ 56,000, beating the calculations of a previous estimate, in which he saw bitcoin holding at its maximum of $ 42,000. Woo maintains that the profit-taking phase by whales has concluded, and that the flow of incoming BTC on exchanges is a minority compared to outgoing BTC.
Ether (ETH), for its part, rises substantially in price. Its seven-day average rise was 26.8%, with the price moving between $ 1,281 and $ 1,755. In this way, the native token of the Ethereum network reached a new all-time high, by exceeding USD 1,500. By February 2, the hash rate or hashrate (processing power) of this blockchain registered values never seen before, reaching 330 Thash / s.
Other relevant cryptocurrencies by market capitalization are also on the rise. Litecoin (LTC), up 11%; Polkadot (DOT) appreciates more than 20%; while Ripple and Cardano (ADA) XRP grow 53% and 41%, respectively. Both are in the weekly top.
Cardano distributes USD 3.2 million as part of the Delegation Program
In a message posted on Twitter on February 4, the Cardano team reported on the USD 3.2 million delegation to ADA, the network’s native cryptocurrency. The action is part of the Delegation Program implemented since last November, as a mechanism to redistribute cryptocurrency funds and bring them to the community.
The announcement appears to have boosted the price of ADA, which had a significant growth on the same date, achieving a weekly advance of 59.7%.
As indicated in the same tweet, the aforementioned amount is distributed between 100 community groups working on projects linked to the platform, with the aim of “promoting a sustainable, decentralized and diverse network”. For the next quarter, more resources will be given to another cohort of groups. Meanwhile, the value of ADA oscillated in these seven days between USD 0.335, and a peak of USD 0.554 that reached this February 5.
Additionally, Cardano announced in another tweet the successful implementation of the Mary update on the public testnet. The goal with these tests is to become a multi-asset smart contract platform.
ADA’s market capitalization is USD 16,508 million and daily trading volume is USD 2,048 million.
Cardano announced the granting of funds to community groups and ADA rises almost 60%. Source: Live Coin Watch.
XRP rises again as it is listed in Japan’s SBI Holdings loan scheme
Ripple XRP ranks in the weekly top for the second week in a row with an average rise of 54%. The value of the cryptocurrency was increased in the framework of the announcement of the company SBI Holdings of Japan, noting that its subsidiary, SBI VC Trade, will add XRP to its offering of loans in cryptocurrencies.
As reported by CriptoNoticias, the company will offer an annual interest or “use fee” of 0.1% for each XRP loan agreed. The operations with XRP have been launched this week, the loans will be enabled between clients for a period of 84 days, and they will only be able to lend a minimum of 1,000 XRP.
In this context, the price of XRP reaches its highest value so far this year, with a price of $ 0.743 for February 2. In this way, XRP exceeds the maximum it had at the beginning of December, shortly before the United States Securities and Exchange Commission (SEC) sued Ripple, accusing it of carrying out an illegal offering of securities.
This new rise in XRP represents a significant recovery for the cryptocurrency, which is now back to fourth place by market capitalization. This, after come registering a steady decline since the end of December.
XRP’s market capitalization is $ 19,891 million and the daily trade volume is $ 3,533 million.
After more than a month in decline, XRP hits the high it had in early December 2020. Source: Live Coin Watch.
Alphabit Fund invests resources for the development of the Stratis ecosystem
According to information released on Twitter this February 5, the investment fund Alphabit Digital Currency made an initial investment for the development of Stratis’ Blockchain as a Solution (BaaS) service provider. The news coincided with STRAT’s price increase, which on average increased 41% this week.
Through BaaS, the Stratis team makes it easy for any company to access the blockchain using the widely used C # programming language. It offers interested institutions the execution of smart contracts and the use of multiple sidechains. Promote the development of this ecosystem with new injections of money in the next two years is the goal of Alphabit, a regulated fund that operates in the Cayman Islands.
Both companies intend to design new products that allow organizations to join Stratis, use blockchain in your daily operations.
STRAT’s price peaked at $ 0.955 on February 5. The market capitalization of is USD 93.4 million and the daily trade volume is USD 51.5 million as of this writing.
The price of STRAX peaked at $ 0.955 on February 5, with an average weekly rise of more than 40%. Source: Live Coin Watch.
Beam launches more atomic swaps in its testnet
On February 5, the Beam team announced the launch of the Eager Electron 5.3.10262 version on the testnet. This is a new version of software in which it is possible to implement atomic swaps (atomic swap), with a new group of cryptocurrencies. Between them mentions ether (ETH), Wrappen Bitcoin (WBTC), Tether (USDT) and DAI.
In his message, Beam promises that these operations will soon be available on the mainnet. The information positively influenced the price of this platform’s native cryptocurrency, BEAM, which rose about 39% in seven days.
Atomic swaps are transactions carried out directly between different blockchains, without the need for an intermediary. These third parties can be exchanges or centralized sites in charge of these functions. Beam’s platform, based on the privacy protocol known as MimbleWimble, has been testing this type of exchange on testnet since 2019, when it started atomic swaps. between BEAM and BTC, LTC and QTUM. It ensures that the privacy of the cryptocurrency is not lost in the process.
This February 5, the price of BEAM reached a peak of $ 0.47. The market capitalization is $ 38.1 million and the 24-hour trading volume is $ 8.2 million.
Beam posted a 39% weekly gain after announcing atomic trades with ETH, USDT, WBTC and DAI. Source: Live Coin Watch.
Binance and Huobi offer support for Waves’ Neutrino token airdrop
Exchanges Binance and Huobi report this week that they will offer support for Neutrino Token (NSBT), a cryptoasset that will be assigned to holders of Waves (WAVES) in an airdrop that It will be held on February 10. Shortly after this announcement the price of WAVES had a rise that took the weekly average to 36%.
The assignment of these NSBTs is part of the incentive program for WAVES holders, the Waves team notes in a Medium post. They add that they will allocate a total of 10,000 NSBT (5,000 ERC-20 NSBT tokens for Huobi users, and 5,000 for Binance users). All users of the two exchanges who have a balance of at least 10 WAVES can participate.
The cryptocurrency registers its maximum value of the week this February 5, reaching a price of USD 0.876. WAVES ‘market capitalization is USD 857 million and its daily trade volume is USD 208 million.
Waves grows 36% while preparing the Neutrino airdrop for February 10. Source: Live Coin Watch.