more than 70% of altcoins in decline – CVBJ

Key facts:

The price of tezos soars by more than 60% after announcing the partnership with 3 European banks.

In the framework of World Gamer’s Day, Decentraland rises more than 16%.

From August 23 to 29, 2021, the cryptocurrency market registers a mostly downward trend. About a third of altcoins show growth in averages that reached over 60%, while the rest show a downward trend according to Live Coin Watch statistics.

The weekly top is headed by tezos (XTZ) that it 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 follow cardano (ADA), which consolidates in third place by market capitalization upon entering the Japanese market; and avalanche (AVAX), which added a new project to its DeFi mining incentive program.

The five cryptocurrencies are completed with siacoin (SC), which announced its integration with a web application platform for decentralized storage networks.

After the constant advance that the price of bitcoin maintained in the previous weeks, in these last seven days it registered a slight fall.

On average BTC lost 1.1%, although it remains in a range that is between 45,000 and 50,000 dollars. After having once again exceeded USD 50,000 on August 23, the pioneer cryptocurrency falls on Thursday 26 to a low of $ 46,701.

Despite the drop, analyst Willy Woo you have a relatively positive expectation of BTC price action, foreseeing changes in a range that goes from lateral movements to a clearly bullish scenario, as published by CriptoNoticias.

On the other hand, ether (ETH), the cryptocurrency of Ethereum, also falls in price. This week its value ranged between $ 3,075 and $ 3,356. On average it lost just over 1%.

On August 27, 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 chain of blocks. The developers urge to run a new Geth update released on August 24 to fix the bug.

Other relevant cryptocurrencies by market capitalization show ups and downs. Litecoin (LTC) loses 7%; polkadot (DOT) down 6%; XRP drops 7%; and dogecoin (DOGE) depreciates by 11%. Only cardano (ADA) rises in price and advances more than 10%, ranking in the weekly top.

Tezos will bring smart contracts to 3 European banks

According to information published in a press release, the Tezos blockchain has been selected by the 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 brief, the three financial institutions have an interest in using the tokenization standard recently launched by Tezos, called “DAR-1”, to offer its clients new services related to cryptocurrencies.

The information was released on August 24, as Tezos cryptocurrency XTZ begins a steady rise which took its value to a maximum of USD 6.10 on August 29. The weekly average closes at 60%.

The post clarifies that the Tezos DAR-1 standard, developed by Inacta, allows the implementation of smart contracts withn all functions necessary to support traditional financial markets, including anti-money laundering regulations to asset governance.

As of press time, XTZ’s capitalization is USD 5,169 million and daily trading volume is USD 696 million.

The price of XTZ peaked at more than $ 6 on August 29. It grew more than 60% throughout the week. Source: Live Coin Watch.

Decentraland tests a tool to create missions in video games

Within the framework of World Video Game Day or Gamer’s Day, which is celebrated this August 29, the Decentraland team has been promoting the launch of a new tool that allows the creation of missions within its metaverse.

“The tool for creating such experiences has now been developed for the Decentraland community, and although 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, ”notes the Decentraland blog in an Aug. 23 post.

According to the brief, the positive results of the first round of tests for the creation of missions were seen this week. It happened through the delivery of various POAPs (Ethereum ERC-721 tokens) to test participants, as medals or badges in the games “Drink of the Gods” and SteamPunk by DappCraft (39,12).

Within the framework of these promotions, MANA, Decentraland’s cryptocurrency earns more than 16% in seven days. Its price ranged between a low of $ 0.783 and a high of $ 0.987 on August 29.

The market capitalization of the token is estimated at USD 2,138 million and the daily trading volume is USD 140.7 million.

The price of MANA advanced by an average of 16% in seven days, reaching a maximum of USD 0.987 on 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 makes headlines again for the launch of ADA in Japan through the cryptocurrency exchange Bitpoint.

According to the 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 in the social network, considering that Japanese exchanges must adhere to very strict rules and only a small amount of tokens can be listed on these platforms.

Hoskinson also announced that Ethereum smart contracts will now be on the Cardano blockchain through a sidechain. This, while the network prepares for Alonzo update, which will run on September 12, opening the way to the activation of smart contracts in Cardano.

In the midst of these advances, ADA, the network’s native cryptocurrency, is located in the top weekly of CriptoNoticias for the third week in a row.

The sustained rise in price has been constant since August 14, and has lasted throughout these fifteen days, with some ups and downs. On average the cryptocurrency appreciated by more than 12% on the week.

Shortly after a correction that had pushed its price to a low of $ 2.5, ADA’s price rally spiked since August 27. The market capitalization is USD 92,953 million and the daily trade volume is USD 3,687 million.

The maximum weekly value of ADA was $ 2.95 reached on August 23. Source: Live Coin Watch.

Avalanche Expands DeFi Liquidity Mining Incentive Program

The Avalanche Foundation announced this August 24 the expansion of the incentive program of liquidity mining in DeFi, launched a week ago. The initiative, known as «Avalanche Rush«, now incorporates Sushi, one of the largest decentralized finance apps by total locked value (TVL) and trade volume.

In this way, the Avalanche project —which began with a liquidity of USD 180 million in incentives— now it will incorporate an additional USD 15 million in the next 3 months. They will be contributed by Avalanche Foundation and Sushi in equal parts (USD 7.5 million each).

According to the Avalanche post, the deployment of Sushi on this blockchain is expected to provide DeFi merchants with access to a new set of products. with high yield farming rewards.

As reported by this outlet, Avalanche Rush, designed to introduce decentralized finance (DeFi) projects into the ecosystem to Avalanche, began operations last week with two of the largest DeFi protocols by total value locked: Aave and Curve.

The news is giving a significant boost to the price of AVAX, which it ranks in the weekly top for the second week in a row. The cryptocurrency experiences a constant advance in these 15 days. By August 24, it had a peak of more than $ 57 per unit. On average, its advance has been above 11%.

At press time, AVAX’s market capitalization is USD 8,377 million and daily trade volume is USD 869 million.

The price of AVAX started to rise from August 23 and, after some corrections, reached a peak of USD 57.56 on the 24th of this month. Source: Live Coin Watch.

New decentralized storage provider joins Sia’s Skynet network

This week, the Siacoin team announced the 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 that more providers implement Skynet, a distributed data warehousing service introduced by the Sia project in 2020.

The Skynet platform simultaneously fulfills two functions: one as a DSN and the other as an open protocol to host data and applications on the decentralized web, through the Sia blockchain.

“By using Skynet on the back-end, ArGoApp enables developers to deploy any front-end web application with 100% uptime and no hidden deployment fees,” the writing states.

The price of SC had been on the rise since August 23 and was experiencing some corrections when it rose again shortly after the broadcast of this message. It reached a maximum of $ 0.0231 on August 24 and 25, going lower the following days. Even so, on average it gained more than 10% for the week.

As of press time, SC’s market capitalization is $ 1,027 million and daily trade volume is $ 69.7 million.

SC price peaked at $ 0.0231 on Aug 24 and Aug 25. On average it rises more than 10%. Source: Source: Live Coin Watch.