From October 18 to 24, 2021, the cryptocurrency market continues to be characterized by a series of constant ups and downs that cause the prices of many altcoins to fall. Even so, about 50% of cryptocurrencies show increases that have reached over 70%, according to Live Coin Watch statistics.
The weekly top is headed by Shiba Inu (SHIT) that marked a new all-time high by reaching $ 0.00004 on October 24; and Zcash (ZEC) , which is now part of Grayscale’s cryptocurrency funds.
They are followed by Solana ( SOL) , added to the cryptocurrency list of the Argentine exchange SatoshiTango; and Avalanche (AVAX) , which raffles a space in the Bloktopia metaverse.
The list of most appreciated cryptocurrencies is closed with Chainlink (LINK) , whose oracle will be used by the AP news agency to offer verified information.
The price of bitcoin (BTC) has been on the rise since last week, although with some ups and downs. The cryptocurrency has lost 1.4% of its value in the last seven days. Despite this, marked a new all-time high (ATH) this week, surpassing USD 66,000 this October 20.
Among the reasons for the ATH is the approval of the first funds
On October 19, the first Bitcoin ETF of the company ProShares, raising around USD 3.463 million in four days. This while the second ETF, Valkyrie Funds (BTF), was launched on Nasdaq on Friday, October 22, attracting 10 million dollars in 5 minutes. A third ETF, from the VanEck company, will start trading next week.
On the other hand, Ether (ETH), the cryptocurrency of Ethereum, gained more than 5.4% of its value in seven days, trading between $ 3,704 and a high of more than $ 4,300 on October 21. With that peak, ETH surpassed the historical maximum reached on May 12 , when it was quoted at USD 4,362.
In addition to the price, the Ethereum network reached another all-time high in this same period , when the number of addresses with at least 1 ether (ETH) was above USD 1.34 million.
Other relevant cryptocurrencies by market capitalization show ups and downs. XRP depreciated by 3.9%, while Cardano (ADA) lost 1.9% of its value. On the other hand, Dogecoin (DOGE) gained 7.3%; Litecoin (LTC) rose 2.3%; and Polkadot (DOT) appreciated by more than 1%.
Shiba Inu achieves a new all-time high
This week Shannon Bray, candidate for the US Senate for 2022, shared on Twitter her position in favor of the cryptocurrency meme Shiba Inu, based on the Ethereum network.
The American candidate defended SHIB by placing an image of the Shiba Inu dog nicknamed Floki on his social network profile. Then he invited his more than 9,000 followers to “make noise” to boost the price of the coin.
Bray said that once SHIB If the USD 0.00003 zone recovered, there would be less resistance and the currency could reach a new all-time high. The ATH occurred, in effect, this Sunday, October 24 when SHIB reached a peak of USD 0.000045.
The price of the token has maintained a constant rise since October 23. The rise has been dizzying in the last two days and the average weekly rise is estimated at more than 71%.
As of press time, SHIB’s market capitalization is USD 24.66 billion and trade volume daily is USD 18,678 million.
Zcash enters Grayscale’s cryptocurrency funds
Crypto asset manager Grayscale announced the opening of three new altcoin-based funds that have already started trading on the OTC (over-the-counter) market , including one from Zcash (ZEC).
The announcement was made on Twitter this on October 18. The message explains that in addition to privacy-based cryptocurrency ZEC, funds were opened for Stellar (XLM) and Horizen. Trusts are traded under the tickers ZCSH, GXLM and HZEN, respectively.
The three new funds are intended to allow exposure to the price movement of the underlying assets through an investment vehicle, avoiding users the challenges of buying, storing and safeguarding the cryptocurrencies.
With these three trusts, there are already fifteen cryptocurrency-based funds managed by Grayscale , as can be seen on its website. Of these, ZCSH represents the investment product ranked seventh.
Amid these advances, the value of ZEC rose more than 39% in one week. The rise became evident on October 24, when the cryptocurrency reached USD 188.9, a value that it had not reached since 2018.
The market capitalization of ZEC is USD 2,334 million and the daily trade volume is USD 672 million.
The altcoin Solana reaches the Argentine exchange SatoshiTango
In a commitment to “more innovative cryptocurrencies”, the Argentine exchange SatoshiTango incorporates the SOL token from Solana into its portfolio. According to what the team reports on their Twitter account, the platform now supports SOL and other cryptocurrencies such as Stellar (XLM) and Uniswap (UNI).
In its message, the exchange explains that it considers the Solana project as one of the most solid and attractive of the year. They claim that “Solana’s recent gains appear to be driven by enthusiasm around decentralized finance initiatives or DeFi.”
They add that the cryptocurrency is known for its times incredibly short processing times , and significantly shortened validation periods for both transactions and the execution of smart contracts.
The value of SOL started to rise steadily from the October 20, going from USD 156 to a peak of USD 210 on the 22nd. On average the cryptocurrency rose more than 17% in one week.
The market capitalization of SOL is USD 54,288 million and the daily trade volume is USD 2,671 million.
Avalanche sells NFT in the Bloktopia metaverse
In a message posted on Twitter the Avalanche team announces that has joined the Bloktopia space , a metaverse virtual reality that will provide users with complete experiences with the possibility of learning, winning, playing and creating on the subject of digital currencies.
The note indicates that, in this metaverse, Avalanche will sell tokens non-expendable or NFT for virtual real estate spaces, which have been called reblok (reblocks).
They define that the virtual space of the blockchain is made up of 100 rebloks
In the framework of this contest, the price of AVAX gains momentum. The cryptocurrency has experienced a growing rise since October 20. Progress has been continuous. By Saturday 23 it had a peak of more than USD 31.4 per unit. On average, its increase has been above 13%.
At press time, AVAX’s market capitalization is USD 13,941 million and the daily trade volume is USD 490,398 million.
AP News Agency Incorporates Chainlink’s Oracles
As reported by CriptoNoticias this October 21, the Associated Press news agency, better known as AP, launched a Chainlink oracle node that will allow it to distribute verified information through smart contracts.
The initiative seeks to provide reliable data, backed by the company’s trajectory, to blockchain-based application developers around the world.
In this way, creators of smart contracts, from any chain of blocks, will be able to access the collections on request from reliable AP data. Among them, they mention macroeconomic figures, sports statistics and financial and commercial information.
In this context, there was a significant advance in the value of the Chainlink (LINK) token in these seven days, with an increase continues from October 20. The cryptocurrency peaked at $ 34 on the 23rd of this month, although the price has been declining in the following days. Average growth was more than 10%.
LINK’s market capitalization is estimated at USD 13,721 million and daily trade volume is USD 906 million.