During the week from February 28 to March 6, 2021, the market shows a slight recovery. After the general decline that occurred last week. More than 70% of altcoins show a slight upward trend, with advances approaching 40%, according to Live Coin Watch statistics.
The most appreciated cryptocurrencies in these seven days are led by NEM (XEM) , integrated into Moonpay’s global payment solution. They are followed by IOTA (MIOTA) , with the activation of the alpha phase of a protocol for smart contracts; and Tezos (XTZ) which is now supported by the computer engine provider Wolfram Alpha.
The list of crypto assets for the week is completed with Storj (STORJ) , which integrated the ZK-Rollup solution to reduce commission payments on the Ethereum network; and Tron (TRX) which starts a program for the development of DeFi products.
In these seven days the price of Bitcoin shows increases again, once again exceeding the range of $ 50,000 after having reached a minimum of USD 43,450 in previous days. On average the recovery is 0.2% in seven days .
The pioneer cryptocurrency showed its highest growth on March 3, when it reached a peak of $ 52,331. The advance came amid continuous institutional investments. The rise also coincided with the support received by the application for approval of the bitcoin exchange-traded fund (ETF) introduced by Van Eck before the United States Securities and Exchange Commission (SEC ).
Ether (ETH) also recovers and rises in price. It registers an average increase of 4.3%, moving between USD 1,325 and USD 1,645 in these seven days.
This week, Amazon Web Service (AWS) announced that from its network management tool blockchain, Amazon Manager Blockchain, it is possible to access Ethereum nodes . This new facility will allow AWS customers to provision from network nodes, allowing them to connect to the main network and the Rinkeby and Ropsten test networks.
Meanwhile, other relevant cryptocurrencies on the market register ups and downs . Litecoin (LTC), rose 1.4%; and Ripple’s XRP gained around 3.5%. At the same time Polkadot (DOT) lost 6.7%; and Cardano (ADA) decreased by 20.9%.
Payment solution Moonpay integrates XEM to its platform
In a message on their Twitter account on March 3, the NEM team reported that Moonpay, a solution for global payments with cryptocurrencies, integrated the XEM cryptocurrency into its system. The announcement coincided with the rise of this altcoin, which that same day peaked at $ 0.86. The weekly average value approached 40% .
With this integration, XEM joins a list of more than 80 cryptocurrencies used in the Moonpay platform, as read on its website. The payment system operates in more than 180 countries.
The price of XEM has been on the rise since last week as part of the preparations for the activation of your new Symbol network . The registration period for the exchange of XEM for Symbol’s XYM token closes this March 12.
On the eve of this launch, scheduled for March 15 , a competition of exchanges is carried out through which they will deliver about 500 thousand dollars to users who operate with XEM.
After reaching its maximum of the week, the March 3, the price of XEM has been falling in recent days . The market capitalization is USD 6,688 million and the daily trade volume is USD 612 million, at the time of writing.
IOTA activates alpha phase of protocol for smart contracts
The IOTA Foundation activated the alpha phase of the IOTA Smart Contract Protocol (ISCP). The information was released this March 4 in an official blog post.
The price of the network’s cryptocurrency, MIOTA rose rapidly days after this announcement, with a weekly advance that exceeded 14% . The cryptocurrency ranged from a minimum of USD 1.04 on February 28, to a maximum of USD 0.42 on March 5.
As indicated in the publication, with the new Protocol of Smart Contracts, IOTA hopes to differentiate itself from other platforms such as Ethereum . The main difference of IOTA’s contracts with the latter is its multi-chain environment, secured by the Tangle network, with the ability to run multiple blockchains in parallel, explains the Foundation.
In that sense, IOTA smart contracts do not necessarily have to be executed by all nodes on the network. “They allow a more flexible and sensitive definition that matches the requirements of the owner of the smart contract, which will drastically reduce the cost and energy that is spent,” says the team.
Market capitalization MIOTA is USD 3,683 million and the daily trade volume is USD 164 million.
According to a March 1 post from Wolfram Blockchain Labs, the cryptocurrency-focused division of computer search engine provider Wolfram Alpha, added support for Tezos on their platform . In this context, the price of XTZ, the native cryptocurrency of this network, began to gain momentum and achieved a weekly growth of almost 5%.
As explained in the Wolfram Alpha blog, the integration provides the company with a bi-directional interface with blockchain and adds support for Tezos data within Wolfram Language . This allows developers to obtain analytical data from the blockchain from the Wolfram interface.
For now, it is already possible to use BlockchainBlockData to retrieve data from Tezos, limits the writing. Additionally, Wolfram Blockchain has developed an oracle for Tezos that will provide its smart contracts with the statistics available in Wolfram Alpha.
The value of XTZ ranged In these seven days between a minimum of USD 3.24 on February 28, and a maximum of USD 4, this March 6. At the time of writing, the market capitalization is USD 2,661 million and the daily trade volume is USD 209 million.
Storj implements zk-Rollups to reduce commission costs on Ethereum
In a blog post on February 26, Storj Labs discusses the recent integration of zkSync, a Layer 2 (L2) scaling solution for Ethereum based on zk-Rollups technology. It is a mechanism with which seeks to lighten the cost of transactions on the blockchain .
According to the note published in CriptoNoticias, With this new solution Storj offers to the operators of storage nodes of its network ( hosts ) the ability to subscribe to this system to execute second layer payments. The dissemination of this information seems to have had a significant influence on the platform’s cryptocurrency price, which has risen more than 4% since that date.
With this implementation, the Storj network has managed to significantly reduce the payment of commissions for transactions in Ethereum, which in recent months reached more than USD 40,000, says the team.
Meanwhile, in these seven days the price of STORJ has registered successive corrections, although the general trend is upward. Its value varied between 0.62 and 0.72 dollars. The market capitalization is USD 97 million and the 24-hour trading volume is USD 30 million.
Tron will launch a new staking program
The TRON Foundation, along with BitTorrent and others organizations linked to the ecosystem of this cryptocurrency, will launch the program TRON Century Mining that will start on March 8. It is a staking system that gives users the opportunity to deposit a token and receive five tokens in exchange, as explained in a publication on Medium.
The price of the cryptocurrency of the The network began to increase gradually from March 1, in the middle of the announcement of this program. TRX grew around 8.17% during the week.
The Foundation’s plan is to attract liquidity providers in order to support the development of projects related to decentralized finance (DeFi) in the TRON ecosystem. The program will run for three months with an estimated budget of USD 100 million. Although the Foundation promises to subsidize the plan without limits, if the community shows sufficient interest.
The price of TRX reached a peak of USD 0.053 on March 4, with various fixes the following days. The market capitalization is USD 3,545 million and the 24-hour trading volume is USD 682 million.