During the week of February 6 to 13, 2021, the market shows a marked upward trend. The price of the vast majority of altcoins has gained growth that has reached over 200%, according to Live Coin Watch statistics.
The most appreciated cryptocurrencies in these seven days are headed by Avalanche (AVAX) , which was incorporated into BitPanda’s list of crypto assets. They are followed by IOTA (MIOTA) , which implemented its own decentralized oracle; and Lisk (LSK) , included in the list of new cryptocurrencies traded on AirTM.
The weekly top closes with Cardano (ADA) , which this week was added to Binance’s staking system; and Tron (TRX) organizing a DeFi product hackathon.
This week the price of Bitcoin continued to advance, after having once again exceeded USD 40,000 on February 6. The cryptocurrency traded between USD 37,000 and USD 48,000, to experience a growth of 15.7% in seven days .
The value of BTC skyrocketed earlier this week, surpassing $ 44,000 per unit for the first time in its history on February 8. This happened after the decision of the automotive company Tesla to invest more than 1.5 billion dollars in the cryptocurrency was announced.
Ether (ETH), on the other hand, also appreciated. His average advance was 6% . The price ranged between USD 1,546 and USD 1,872 in these seven days. According to data from the digital asset management firm CoinShares, during the first week of February the cryptocurrency Ethereum accounted for 80% of the weekly investment flow , attracting 195 million dollars.
Investments in ETH were above those made in bitcoin , a fact that analysts saw as unusual, and they take as a sign that investors are seeking to diversify their portfolios.
Other relevant cryptocurrencies by market capitalization also increased in value. This is the case of Litecoin (LTC), which appreciated 26%; and Ripple’s XRP, which gained around 35%. Polkadot (DOT) also rose in price, up 42%; and Cardano (ADA), which grew by 66%, placing itself in the top weekly of CriptoNoticias.
BitPanda supports Avalanche and announces trading contest
Avalanche is a decentralized application network whose technology allows implementing enterprise blockchains (public or private) , and interoperate with other platforms. On February 10, the cryptocurrency of this network was incorporated into the list of assets of the BitPanda exchange . The announcement coincided with the price hike of AVAX, which registered an average weekly increase of 162%.
In a post on its blog, BitPanda also reports that will distribute 5,000 euros in AVAX , within the framework of a trading contest that takes place from day 10 and will close on February 17. From the start date of this event, the price of AVAX began to rise significantly, reaching a peak of $ 59 that same day.
Additionally, the Avalanche team released the launch of a new decentralized exchange (DEX) called Pangolin, which runs on the Avalanche network.
“Pangolin supports all tokens of Avalanche and with the assets and tools of Ethereum ”, says the note of the company, adding that the DEX works with the same automated market model of Uniswap.
The market capitalization of AVAX is USD 3,480 million and the daily trade volume is USD 261 million.
IOTA launches its own decentralized oracle
On February 8, the IOTA team announced on its corporate blog the implementation of oracles with the launch of IOTA First Party Oracle , which will run on its Tangle blockchain network . Amid the spread of this fact, MIOTA’s price experienced a significant rise, with an average rise of 122%.
“The IOTA oracle will begin to handle external data on various indicators of interest (…) Unlike the traditional oracles in blockchain networks, it does not use external sources provided by a third party, but this process will be in charge of the sensors interconnected with the project network ”, indicates the letter.
They explain that these oracles will benefit from some of the features of the IOTA blockchain , among which free transactions stand out. They also claim that the process in IOTA is simpler and more efficient than in other networks. To do this, they offer a complete solution that will allow data providers to send information directly to Tangle.
A few days after the announcement, between February 10 and 11, the price of MIOTA experienced a rise substantial, going from USD 0.75 to a maximum of USD 1.27 .
The market capitalization is USD 3,549 million and 24-hour trading volume is $ 279 million.
Transactions with Lisk, Cardano and Tron are now possible on AirTM
In a note published on his blog on February 11, the 24 new crypto assets that are incorporated into the list of currencies that can be traded in the AirTM virtual wallet were announced , very popular in several Latin American countries. Among them, 3 of the 5 cryptocurrencies that are in this weekly top are mentioned. These are Lisk (LSK), Cardano (ADA) and Tron (TRX).
In the particular case of LSK, the news seems to have had a positive influence on its price, which had already been increasing since on February 9. This, shortly after the cryptocurrency joined the staking service of the BitFlyer exchange, as stated reported on Twitter.
The value of LSK rose significantly on February 10 and since that date has maintained its upward trend. For this February 13, the price reaches a maximum of USD 2.97. On average, the cryptocurrency has grown by 82% in seven days.
According to the publication of AirTM, the expansion of its list of crypto assets has to do with the boom achieved by the adoption of cryptocurrencies in Latin America , “as it is an expeditious way to save money and generate higher dividends.”
The AirTM team assures that many people they write worried about owning cryptocurrencies other than bitcoin and ether. This requires indirect transactions to fund your AirTM account. “With these new 24 cryptocurrencies, purchases or funding will now be direct, without the need to make previous changes, or exchanges,” concludes the note.
LSK’s market capitalization is USD 345 million and the daily trade volume is 84.6 million dollars.
Since last February 10, the Binance exchange includes Cardano (ADA) in the staking service locked ( locked staking ) offered on the platform.
Shortly after the release of this information, the price of Cardano’s cryptocurrency skyrocketed in the market . ADA surpassed the high it reached three years ago ($ 0.92), reaching $ 0.96 on February 11. Its average rise was 66% in these seven days.
According to the information, reported by CriptoNoticias, the exchange’s users will receive an annual percentage yield of 21.79%, interest that will be placed daily in your wallets . Those interested may execute the staking of their coins for a maximum of 15 days, blocking at least one unit of the cryptocurrency, with a maximum limit of 1,000 ADA.
This is the second week in a row that Cardano has been in the weekly top. Its price was also boosted by being on the list of new AirTM coins.
The value of ADA began to slowly increase from February 8 , to rise sharply from days 10 and 11. The rise has been maintained in recent days, although in recent hours the price tends to fall.
At the time of writing, the ADA’s market capitalization is USD 28,521 million and its daily trading volume is USD 1,842 million.
Tron hosts a DeFi product hackathon
In a series of tweets published since the beginning of February, Justin Sun, CEO of the Tron Foundation, talks about the hackathon that is organized for development of decentralized finance products (DeFi) in the Tron ecosystem.
The publication of these messages coincides with the rise registered by the cryptocurrency of this network, TRX, which this week had an average growth of 64%.
In its message, Sun reminded interested developers of the event schedule TRON 2021 Defi Hackathon , whose registration began on February 3 and will end on February 28. The hackathon is expected to take place the first days of next month. May s .
They offer 10 million dollars in prizes to be distributed among the developers who are winners. They ensure that the event will be held every year as an annual meeting of innovative solutions in DeFi.
The value of TRX has been on a constant rise since February 8, reaching a peak of USD 0.057 this February 13.
The cryptocurrency is also on the list of 24 cryptocurrencies that are now accepted in AirTM , which can be purchased from any wallet external to the platform.
TRX’s market capitalization is USD 4,031 million and daily trade volume is USD 1,441 million.