October 19, 2021

Ukraine Breaking News

Ukraine Breaking News | The Latest News In Ukraine

Shiba Inu and Siacoin lead this week, bitcoin leads the market

From 4 to 10 October 2021, the cryptocurrency market maintains the bullish cycle that began the previous week. Most altcoins show increases that have reached over 200%, according to statistics from Live Coin Watch.

The weekly top is led by Shiba Inu (SHIB) which goes out after a tweet from Elon Musk; And Siacoin (SC) , which submitted its Q3 report and announces the token burn. They are followed by Layers (STRAX) , which begins a new STRAT token exchange period for STRAX; And Beam (RADIUS) , which is preparing to launch a new governance token.

The weekly top ends with Pois (DOT) , added to eToro’s list of crypto assets.

The price of bitcoin (BTC) has been on the rise since last week, gaining nearly 15% of its value over the past seven days. The price of the cryptocurrency has remained between USD 47,000 and over USD 55,000.

According to the analysis by JPMorgan Chase the growing interest of institutional investors in bitcoin is one of the reasons for the recent rally of cryptocurrency.

He adds that the statement by US authorities that they will not ban bitcoin, as China has done, is another cause of the increase. Added to this is the growth of the second level network, Lightning Network, due to the adoption of BTC in El Salvador.

Ether (ETH), the Ethereum cryptocurrency, on the other hand, wins almost 4% of its value in this period, trading between USD 3,284 and just over USD 3,600.

CryptoNews recently looked into how Ethereum miners have discovered new ways to get around the limitations of Nvidia GPUs to mine cryptocurrency. Some computer scientists managed to unleash the mining power that Nvidia represses in some of its video cards using NBMiner and Gminer, two programs dedicated to mining cryptocurrencies such as ETH.

Meanwhile, other cryptocurrencies relevant by market cap are also showing growth. XRP and Polkadot (DOT) up 12%; Dogecoin (DOGE) earns 10%; and Litecoin (LTC) appreciated by 5.6%. Only Cardano (ADA) has lost 0.9% of its value in these seven days.

Shiba Inu shoots himself after a tweet from Elon Musk

Again a tweet from Tesla’s billionaire owner Elon Musk triggers the price of the cryptocurrency meme. As with Dogecoin, Shiba Inu’s value is often driven by what happens on social media, which makes it very volatile.

On this occasion, Musk tweeted on October 3 a message showing a picture of her Shiba Inu puppy, called Floki, along with the phrase Floki Frunkpuppy .

Shortly thereafter, the price of SHIB started rising steadily, going from a low of $ 0.000008 to a high of $ 0.000035. With that, it approached its all-time high of USD 0.000038 reached on May 10th. It has also positioned itself above Litecoin and Avalanche given the increase in its market cap, in 13th place in the ranking of cryptocurrencies.

Although the price decreased slightly in the following days, on average, the cryptocurrency rose more than 224% in one week. As posted on CriptoNoticias, Shiba Inu is a cryptocurrency founded in August 2020 by an anonymous nickname “Ryoshi”. The only thing that is known about its founder is that he has a love-hate relationship with Dogecoin (DOGE), the memecoin born in 2013.

Although SHIB calls itself “DOGE Killer” -dogecoin killer-, it uses a meme very similar to that of its alleged opponent. Both are symbolized with the image of a Shiba Inu dog.

The market capitalization of SHIB is USD 15,484 million and the daily trading volume is USD 5,812 million.

variation-price-shiba-inu
SHIB’s price approached its all-time high, peaking at $ 0.000035 on October 7th. Source: Live Coin Watch.

Siacoin presents the quarterly report and announces the token burn

In a message posted on Twitter this week, the Sia Foundation announced that it has enough funds for the next four years to start burning coins.

The data were included in the transparency report for the third quarter of 2021 presented by the organization, which indicates that they have a budget of $ 1.77 million for the funding of the Foundation in 2022.

They add that “in light of our goal of not holding funds for more than four years in USD, we can now determine with certainty how many coins we can burn,” although they do not mention the amount or date for burning.

They also claim that none of the native tokens were converted to dollars this third quarter, then the Foundation’s holdings remain in an 80/20 ratio in SC and USD respectively.

SC growth was 20% in seven days. The cryptocurrency peaked at $ 0.0224 on October 5th, continuing to rise over the next few days with some corrections.

The market capitalization is estimated at $ 993 million and the daily trading volume is $ 64.6 million.

Stratis begins the token exchange period

Seven days, counted from this October 8th, is the period set for the Stratis community to exchange their holdings in STRAT, the platform’s old token, for the new STRAX.

The Stratis team reports this on its blog, indicating that holders of STRAT tokens who wish to exchange them with STRAX must do so by October 15, 2021.

They explain it any tokens not traded after this date will be burned. The action takes place as part of a huge event in which more than 5% of the supply of tokens destined for the exchange is expected to burn, which equates to over $ 10 million.

As reported by this media, STRAX is a token launched by Stratis in September 2020 to replace STRAT and as part of a transition process towards a new blockchain. STRAX has a more focused approach on developing DeFi projects.

The information is giving a significant boost to the price of STRAX. The cryptocurrency has seen an increasing rise since October 5th, albeit with some ups and downs. Friday 8th peaked at over $ 2.64 per unit. On average, its progress was over 17%.

As of press time, the market capitalization is $ 242 million and the daily trading volume is $ 12.2 million.

variation-price-layers
The price of STRAX started rising from 5 October. The cryptocurrency peaked at $ 2.64 on the 8th of the same month. Source: Live Coin Watch.

Beam will launch the governance token on 21 October

In a blog post on October 7, the Beam team announced The launch of a new token, called BeamX , for next 21 October.

They explain that BeamX is the governance token that will operate in the ecosystem Confidential DeFi they are building. It will also serve in the various applications that can run on Beam, including stablecoins, lending systems, and decentralized exchanges.

According to the writing, BeamX can be achieved by participating in various ecosystem activities, providing liquidity to DeFi applications governed by decentralized autonomous organizations (DAOs) or by participating in the BEAM governance process.

They also indicate that “the launch will act as the first distribution mechanism for BEAMX Confidential Asset, e projectors they will be able to point their BEAM to receive BEAMX. “

Following the announcement, the token price has started an uneven rise, which peaked at USD 0.939 on October 8th. Subsequently, its value began to decline. Despite this, the average weekly advance is estimated to be over 12%.

As of press time, BEAM’s market capitalization is $ 64 million and the daily trading volume is $ 8 million.

variation-price-radius
Although BEAM’s price is up and down, it hit a high of $ 0.939 on October 8th. Source: Source: Live Coin Watch.

eToro adds Polkadot and Filecoin to its platform

The investment platform eToro has added Polkadot and Filecoin to its cryptocurrency offering, with which it now has a list of 31 cryptocurrencies, according to the company in a statement.

The announcement was made on Twitter this October 5th. The message explains that the exchange with cryptocurrencies it will not yet be available in the United States.

They add that the addition of DOT it is due to the interest shown by investors in this cryptocurrency, which “is gaining more and more popularity among cryptocurrency enthusiasts”.

The Token’s Unique Structure To help reduce transaction fees for different assets is also another of its strengths, according to the writing. “Polkadot is one of the top ten crypto assets in the world by market capitalization, being more valuable than Litecoin and Dogecoin.”

In the midst of these advances, the value of the DOT has increased by more than 11% in one week. The rise has been steady since Oct 6, taking the value of the cryptocurrency to a high of over $ 37.12 on October 9.

The market capitalization is $ 1,579 million and the daily trading volume is $ 15.1 million.

[ https://worldweeklynews.com/shiba-inu-and-siacoin-are-first-this-week-bitcoin-drives-the-market/ https://d26toa8f6ahusa.cloudfront.net/wp-content/uploads/2021/07/30214746/a-quiet-place-part-2-bigs-16.pdf
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