Tezos price soars over 60% after announcing partnership with 3 European banks.
On the occasion of World Gamer Day, Decentraland rises more than 16%.
From August 23 to August 29, 2021 the cryptocurrency market registers a mostly downtrend. About a third of altcoins show growth in averages that reached over 60%, while the rest show downtrend according to Live Coin Watch statistics.
The weekly top is headed by tezos (XTZ), which was chosen by 3 European banks for the development of new financial products; and decentraland (MANA), which tests in its metaverse a new tool to create missions in video games.
They are followed by cardano (ADA), which consolidates its third place by market capitalization by entering the Japanese market; and avalanche (AVAX), which incorporated a new project to its incentive program for mining in DeFi.
The five cryptocurrencies are rounded out by siacoin (SC), which announced its integration with a web application platform for decentralized storage networks.
After the steady advance that kept the price of bitcoin in the previous weeks, in the last seven days it recorded a slight fall.
On average BTC lost 1.1%, although it remains in a range between 45,000 and 50,000 dollars. After breaking back above USD 50,000 on August 23, the pioneering cryptocurrency falls on Thursday 26 to a low of USD 46,701.
Despite the decline, analyst Willy Woo has a relatively positive expectation of BTC’s price action, foreseeing changes in a range from sideways movements to a clearly bullish scenario, as published by CryptoNews.
On the other hand, ether (ETH), the Ethereum cryptocurrency, is also down in price. This week its value oscillated between USD 3,075 and USD 3,356. On average it lost a little more than 1%.
Last August 27th, the Ethereum blockchain suffered an unexpected fork. A bug or error in the Geth client, the main software used in the nodes of this network, would have been exploited that day generating a new blockchain. The developers urge to run a new Geth update released on August 24 to fix the bug.
Other relevant cryptocurrencies by capi
Market movements show ups and downs. Litecoin (LTC) loses 7%; polkadot (DOT) drops by 6%; XRP falls by 7%; and dogecoin (DOGE) depreciates by 11%. Only cardano (ADA) rises in price and advances more than 10%, placing it in the weekly top.
Tezos will bring smart contracts to 3 European banks
to the information published in a press release, the Tezos blockchain has been selected
by European banks Crypto Finance Group (from Germany), InCore Bank and Inacta (both from Switzerland), to launch a series of financial products related to this blockchain.
According to the letter, the three financial institutions are interested in using the tokenization standard recently launched by Tezos, called “DAR-1”, to offer their customers new services linked to cryptocurrencies.
The information was released this August 24, as Tezos’ cryptocurrency, XTZ, starts a steady rise that took its value to a high of USD 6.10 this August 29. The weekly average closes at 60%
The publication clarifies that the Tezos DAR-1 standard, developed by Inacta, enables the implementation of smart contracts with all the necessary functions to support traditional financial markets, including anti-money laundering regulations to asset governance.
At the time of this writing, XTZ’s market capitalization is USD 5.169 billion and daily trading volume is USD 696 million.
XTZ’s price reached a high of over $6 this August 29th. It went on to grow more than 60% over the course of the week. Source: Live Coin Watch.
Decentraland tests tool for creating quests in video games
World Gamer Day, or Gamer Day, which is celebrated this August 29, the Decentraland team has been promoting the launch of a new tool
that allows the creation of quests within its metaverse.
“The tool for creating such experiences has now been developed for the Decentraland community, and while it is currently only available to a handful of users, it will eventually be open to all creators, bringing a powerful new element to the gaming toolkit,” the Decentraland blog notes in an Aug. 23 post.
According to the write-up, positive results from the first round of quest creation testing were seen this week. It happened through the delivery of several POAPs (Ethereum’s ERC-721 tokens.
) to test participants, such as medals or badges in the games “Drink of the Gods” and SteamPunk by DappCraft (39.12).
As part of these promotions, MANA, Decentraland’s cryptocurrency gains more than 16%
in seven days. Its price ranged from a low of USD 0.783 to a high of USD 0.987 this August 29.
The token’s market capitalization is estimated at USD 2.138 billion and the daily trading volume is USD 140.7 million.
MANA’s price advanced by an average of 16% in seven days, reaching a high of USD 0.987 this August 29. Source: Live Coin Watch.
Cardano is trending on Twitter after its launch in Japan
Shortly after surpassing its all-time high and placing third in the ranking
by market capitalization, Cardano is back in the news for the launch of ADA in Japan through the cryptocurrency exchange Bitpoint.
According to announcements on Twitter by the creator of the cryptocurrency, Charles Hoskinson, ADA reached the Japanese market
on August 24, the same date on which its price reached a peak of USD 2.95.
The fact became a trend on the social network, considering that exchanges in Japan must comply with very strict rules and only a small amount of tokens can be included in these platforms.
Hoskinson also announced that Ethereum smart contracts will now be on the Cardano blockchain through a sidechain
. This, as the network prepares for the Alonzo update, which will run on September 12, paving the way for Cardano activation of smart contracts.
Amid these developments, ADA, the network’s native cryptocurrency, ranks in the weekly top of CryptoNews for the third week in a row.
The sustained price rise has been steady since August 14, and has continued throughout these fortnight, with some ups and downs. On average the cryptocurrency appreciated by more than 12%
in the week.
Shortly after a correction that had brought its price to a low of USD 2.5, ADA’s price rise became dizzying since August 27. The market capitalization is USD 92.953 billion and the daily trading volume is USD 3.687 billion.
ADA’s weekly high was USD 2.95 reached on August 23. Source: Live Coin Watch. <h
2>Avalanche expands DeFi liquidity mining incentive program
The Avalanche Foundation announced on August 24 the expansion
of the DeFi liquidity mining incentive program launched
a week ago. The initiative, known as “Avalanche Rush
,” now incorporates Sushi, one of the largest decentralized finance apps by total value locked (TVL) and trading volume.
As such, Avalanche’s project – which started with USD 180 million in cash incentives – will now add an additional USD 15 million over the next 3 months. They will be contributed by Avalanche Foundation and Sushi in equal parts (USD 7.5 million each).
According to Avalanche’s release, Sushi’s deployment on this blockchain is expected to provide DeFi merchants with access to a new set of products with high-yieldfarming
As reported by this media outlet, Avalanche Rush, designed to introduce decentralized finance (DeFi) projects in the ecosystem to Avalanche, began operations last week with two of the largest DeFi protocols by total value blocked – Aave and Curve.
The news is giving a significant boost to the price of AVAX, which ranks in the weekly top for the second week in a row. The cryptocurrency is experiencing a steady advance
in these 15 days. By August 24, it peaked at over $57 per unit. On average, its advance has been above 11%.
As of press time, the market capitalization of AVAX is USD 8.377 billion and the daily trading volume is USD 869 million.
The price of AVAX started to rise since August 23 and, after some corrections, it reached a peak of USD 57.56 on the 24th of this month. Source: Live Coin Watch.
New decentralized storage provider integrates with Sia’s Skynet
This week, the Siacoin team announced integration with ArGoApp, a web application deployment platform for decentralized storage networks (DSN)
According to the note published on Sia’s blog
this August 25, the goal is for more providers to implement Skynet, a distributed data storage service introduced by the Sia project in 2020.
The Skynet platform serves two functions at the same time: one as a DSN and the other as an open protocol for hosting data and applications on the decentralized web, through the blockchain.
“By using Skynet on the back-end, ArGoApp allows developers to deploy any front-end
web application with 100% uptime and no hidden deployment fees,” the write-up said.
The price of SC had been rising since August 23 and was experiencing some corrections when it rose again shortly after the dissemination of this post. It reached a high of USD 0.0231 on August 24 and 25, falling back down on the following days. Still, on average it gained more than 10% for the week
At the time of writing, SC’s market capitalization is USD 1.027 billion and daily trading volume is USD 69.7 million
. SC’s price peaked at USD 0.0231 on August 24-25. On average it is up more than 10%. Source: Source: Live Coin Watch.