From August 30 to September 5, 2021 the cryptocurrency market shows signs of recovery with most altcoins showing growths that reached up to 100%, according to Live Coin Watch statistics.
The weekly top is led by IOTA (MIOTA) which this week activated a new update to its network; and Aragon (ANT), which announced its partnership with the Polygon protocol.
They are followed by polkadot (DOT), which is looking to bring decentralized finance (DeFi) to its platform through the Cream Finance project; and litecoin (LTC) which presented its timeline for the implementation of the MimbleWimble privacy protocol.
The five cryptocurrencies are completed by waves (WAVES), which continues to promote its competition with digital ducks in NFT format.
The price of bitcoin (BTC) returned to the rise and its price gained more than 3% in these seven days, surpassing again USD 50,000. The value of the pioneer cryptocurrency oscillated between USD 46,701 and USD 50,700, showing a price consolidation that could induce it to USD 60 thousand, in the opinion of analyst Willy Woo.
Meanwhile, ether (ETH), the Ethereum cryptocurrency, is also rising in price. This week it moved between USD 3,154 and just over USD 4,000, approaching the all-time high of USD 4,362, which it achieved last May 12. On average ETH gained just over 22% driven by the activation of Arbitrum, a second layer solution.
CryptoNews reviewed data from Glassnode’s most recent report, according to which there is a similar trend on both networks: a steady decline in coins aged three months or less. Such a fact suggests that people are thinking long-term to take profits.
Other relevant cryptocurrencies by market cap continue with ups and downs. XRP is up 13%; dogecoin (DOGE) is up 8%; and cardano (ADA) is down 0.1%. This, while litecoin (LTC) gains 28%; and polkadot (DOT) appreciates by 29%. Both are placed in the weekly top.
IOTA activates the Hornet update
According to the information published on IOTA’s Twitter account, the project activated the Hornet update on September 2. With it, the platform integrates again<a href=”https://blog.iota.org/coordicide-
feature, a mechanism that allows network nodes to interact with each other in automatic mode.
The tweet adds that, with the update, a faucet plugin
has also been integrated, in order to facilitate the nodes of the network the process of running the “Tangle” (equivalent to blockchain in IOTA) privately, in order to distribute the token of the platform.
In this way, it becomes possible to record information in the IOTA network “securely, transparently and immutably through distributed consensus”.
In this context, the native cryptocurrency MIOTA began to rise in price from the date of the update. The price advanced at a steady pace until it reached a peak of USD 2.07 this September 4. On average, it went up to more than 100% in these seven days, closing with an advance of more than 80%
at the end of this writing.
Additionally, the IOTA Foundation has been reporting progress on its partnership
with the CHAISE consortium and some of Europe’s most influential organizations to develop a certified training program for blockchain and DLT in the region.
MIOTA’s market cap is USD 5.036 billion and daily trading volume is USD 413 million.
MIOTA’s price peaked at over $2 this September 4. It reached to grow more than 100% throughout the week. Source: Live Coin Watch.
Aragon partners with Polygon to cheapen DAO launch
on Sept. 2 its partnership with Polygon, a protocol for building and connecting Ethereum-compatible blockchain networks. The goal of the partnership is to facilitate the launch of Aragon’s DAO on Polygon.
According to the note published on Polygon’s blog
, Aragon will use this network as an end-to-end scaling solution. The integration means a reduction of more than 5,000 times in the amount for the creation of DAO. In this regard, Luis Cuende, co-founder and executive director of Aragon Association, thinks that the integration could be a decisive factor to reduce in a notorious way the costs for interacting this kind of organizations.
After the year
nuncio, the native cryptocurrency of Aragon, ANT, began a meteoric rise, gaining more than 41%
in seven days. Its price ranged from a low of USD 4.68 to a high of USD 8.37 on September 2.
The token’s market capitalization is estimated at USD 263 million and daily trading volume is USD 28.7 million.
ANT’s price advanced by an average of 41% in seven days, reaching a high of USD 8.37 this September 2. Source: Live Coin Watch.
Partnership with Cream Finance will bring DeFi to Polkadot
According to information published by Polkadot on September 2, decentralized finance (DeFi) project Cream Finance will bring its lending and borrowing services to Moonbeam, a smart contract platform based on Polkadot’s network
In this regard, Moonbeam clarified in a message
on Twitter, that Cream Finance will integrate into its ecosystem starting by integrating its parachain (small blockchain network) into the parallel Kusama and Moonriver networks, and then entering Polkadot. With this, Kusama and Polkadot users will be able to use Cream’s services to deposit digital assets as collateral or to make loans.
Amid these developments, DOT, the network’s native cryptocurrency, ranks third on CryptoNews’ weekly top.
The price rise has been steady since August 30. On average the cryptocurrency appreciated by more than 29%
in the week. The price rise has been more or less steady in recent days, reaching a peak of USD 33.79 this September 5.
The market capitalization is USD 34.299 billion and the daily trading volume is USD 855.5 million.
DOT’s weekly high was USD 33.7 reached on September 5. Source: Live Coin Watch.
Litecoin moves forward with MimbleWimble privacy protocol integration
Litecoin’s two-year-old plans to integrate the MimbleWimble privacy protocol are coming to fruition. This week, the release schedule for the new code was announced
, with version 0.21 likely to be available for download on October 31.
As reported by CryptoNews, the Litecoin (LTC) MimbleWimble Extended Block (MWEB) protocol code is
and has been going through a formal audit process in recent months. During this period it has also been receiving funding, as reported by developer David Burkett.
The recent news is giving a significant boost to the price of LTC. The cryptocurrency has been experiencing an increasing advance
since August 30. By this September 5, it had a peak of over $228 per unit. On average, its advance has been above 28%.
At the close of this edition, the market capitalization of LTC is USD 15,468 million and the daily trading volume is USD 2,283 million
. The price of LTC started to rise since August 31st. With slight corrections, it reached a peak of USD 228 this September 5. Source: Live Coin Watch.
Rise in competing NFT prices on Waves platform
This week, the Waves team has continued to present its progress in the deployment of a competition with the breeding of digital ducks in the format of non-fungible tokens (NFT), called Waves Ducks
This time, it is announcing
the revaluation of NFTs, whose prices have reached over USD 14,000. According to the company points out in a tweet, some hatchlings are sold for over 500 waves.
For a few months now this game, in which blockchain users actively participate, has been significantly influencing the increase in the price of the native token, placing it on several occasions in the top week of this medium.
The price of WAVES has been on the rise since August 30 and, despite experiencing several corrections, it has been steadily rising the following days. It reached a high of $30.9 on Sept. 4. On average, it gained more than 18% in the week
At the time of writing, the market cap of WAVES is USD 2.957 billion and the daily trading volume is USD 124.7 million
. The price of WAVES reached a high of USD 30.9 on September 4th. On average it is up more than 18%. Source: Source: Live Coin Watch.