During the week of March 15 to 21, 2021, the cryptocurrency market has remained mostly on the rise. More than 60% of altcoins show advances that exceed 70% at the time of writing this note, according to statistics from Coin Check Up.
The most appreciated cryptocurrencies in these seven days are headed by Siacoin (SC) , who launched a new licensing system for their Skynet network. It is followed by Filecoin (FIL) , included in the list of investment funds of Grayscale; and Beam (BEAM) , which prepares the implementation of smart contracts on its network.
The weekly top is completed with Tron (TRX) , in whose network the actress Lindsay Lohan will issue new non-fungible tokens (NFT); and Ripple’s XRP , which is advancing its RippleNet expansion plans outside the United States.
The The price of bitcoin registered a decline at the end of this week, despite the fact that at the beginning of the week it once again exceeded USD 60,000. On average BTC depreciated by 5% in these seven days.
The pioneer cryptocurrency experienced slight corrections after the boost it grabbed the previous week. The price ranged from a low of $ 53,393 to a high of $ 61,650.
Despite the decline, more news shows how institutional investments and interest in cryptocurrency have held up. A new report from the German bank Deutsche Bank highlighted that the $ 1 trillion of capitalization of the cryptocurrency makes it too important to ignore. The report affirms that Bitcoin is here to stay, even though it maintains its volatility in the markets.
The value of Ether (ETH) also decreases slightly and falls by 5%, moving between USD 1,719 and 1,939 dollars in seven days.
A few days ago the co-creator of Ethereum, Vitalik Buterin, assured that the blockchain could experience a hard fork , as happened in 2017 when Ethereum Classic (ETC) emerged. According to the developer, the reason could be that some miners and users prefer to continue using the current version of the network and not move to Ethereum 2.0. However, he considers that the “risks” of the blockchain splitting “are much lower” than those that existed in the past.
Meanwhile, other relevant cryptocurrencies on the market show ups and downs. Cardano (ADA ) rises 11%, while Ripple’s XRP gains around 12% and is in the weekly top. At the same time Polkadot (DOT) falls 0.4%, and Litecoin loses 10%.
Sia monetizes open source licensing system for Skynet
The Siacoin team launched this week a licensing system for Skynet , your platform for distributed data storage service. The new scheme establishes that all outgoing financial transactions on the network will be subject to the payment of a 20% fee, which will be delivered to the Skynet Labs team of developers.
The announcement was made on 18 March on Sia’s blog, amid the steady growth of the value of her native cryptocurrency, Siacoin. SC’s price topped 100% on March 20, when it traded at a high of 0.0296. On average the cryptocurrency rose 74.2%.
«As long as the 20% rate is met, the Skynet codebase can be used, modified and redistributed without the permission of the Skynet Labs team », Says the publication about its new license, highlighting that the open source scheme is maintained. The objective is to allow developers to maintain a sustainable business model.
Additionally, Sia continues to promote a developer hackathon for Skynet, which will It will take place from April 2 to May 17. A few days ago the winner was chosen from among the participants of a creative challenge, which the company did, in conjunction with creary.net, to choose the design of the graphical image of the competition.
SC’s market capitalization is USD 1,160 million and the daily trade volume is USD 341 million.
Grayscale opened a new investment fund for Filecoin
Investment firm Grayscale released on March 17 a list of the new cryptocurrencies that it included in the offer of funds for its clients. It opened new products based on 5 cryptocurrencies, among which is Filecoin. In this context, the price of FIL began to rise on that same date, achieving an average advance of 53% in seven days.
As reported in CriptoNoticias, in addition to Filecoin, the other cryptocurrencies to which investment funds were opened in Grayscale are Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA) and Livepeer (LPT). Most experienced a price increase after the announcement. In the particular case of FIL , it reached a maximum of USD 95 on March 17. Its value has remained constant in that price range for the following days.
On the other hand, it was also learned that New Universal (Newu) will buy mining equipment from FIL . The Shenzhen-listed Chinese company wants to buy computer servers and data storage systems from another company called Sesumg. The equipment will connect to the decentralized storage protocol I nterPlanetary File System (IPFS) on which Filecoin is executed.
FIL’s market capitalization is USD 395 million and daily trade volume is of USD 8 million.
Beam Announces Upcoming Smart Contract Implementation
Beam is currently in preparation for launch Beam 6.0, its next software release. According to the information published in its most recent weekly report, they are going to introduce a mechanism for the implementation of smart contracts, called Beam Shaders.
As explained by the Beam team, the so-called Beam Shaders will also have additional functionality that will allow build various decentralized finance (DeFi) protocols on top of Beam, “with the privacy we all know,” they claim. This refers to one of the properties that characterizes this network, thanks to the MimbleWimble privacy protocol.
Meanwhile, the price of Beam showed a significant advance, rising 28% in seven days. The value of the cryptocurrency peaked at $ 1.24 on March 20, with some corrections the following days.
The developer team expects smart contracts to be available on the new decentralized platform BeamX , which is now in the experimental stage and will be launched on the mainnet later this year.
BEAM’s market capitalization is of USD 100 million and the trading volume in 24 hours is USD 60 million.
Lindsay Lohan Partners with Justin Sun to Launch NFT on Tron
In the midst of the fever caused by non-fungible tokens (NFTs) in the ecosystem, actress and model Lindsay Lohan announced on Twitter her decision to issue her own NFTs through the blockchain platform from Tron. The actress’s message coincided with an increase in the price of TRX, which on average advanced 17% in the week.
In her tweet, Lohan promoted a conversation he would have on the Clubhouse social network with Tron founder Justin Sun and former T-Mobile CEO John Legere. “I couldn’t be happier to be part of this revolution, helping to bridge the gap between content creators and admirers,” he said.
The sale of the actress’s NFTs, which has already been auctioned other collectibles, will be held in a new “clearing house” ( NFT clearinghouse ) on the Tron blockchain, which also promotes the participation of musicians Swae Lee, Tyga, Ne-Yo, Soulja Boy and other celebrities.
It is estimated that the The actress’s new NFTs will be auctioned on March 27. TRX’s market capitalization is $ 4 billion and daily trade volume is $ 2.73 billion.
Ripple’s plans advance to promote the use of XRP outside the US
Amid the current demand facing Ripple in the United States, the cryptocurrency XRP has registered significant growth in recent days. On average, an advance of 12% is observed in the week, which places XRP in the fifth place of the weekly top.
It seems that everything is due to the movements that the company carries out in territories outside the US, as on March 18 they appointed a new general director for the Southeast Asia region. This is a former Uber executive, Brooks Entwistle, who will be in charge of promoting the use of XRP and addressing regulatory issues throughout the Asia Pacific region, according to the publication.
With these actions Ripple seeks to move forward with its plans to expand the RippleNet platform in Asia (for cross-border payments with XRP). This despite the ongoing lawsuit from the Securities and Exchange Commission. Ripple Labs CEO Brad Garlinghouse stated in early March that his projects would not be affected by the legal issue of XRP in the United States.
The price of XRP began to increase from the 16 of March. After several ups and downs, it reaches a peak of $ 0.5491 on March 20. In the last hours the cryptocurrency registers a slight downward trend. The market capitalization is USD 21,190 million and the 24-hour trading volume is 8,730 million USD.