Cryptocurrency

Zcash, Cardano and DeFi between the cryptocurrencies most appreciated of the week

Key facts:

Zcash allows users to perform transactions shielded from iOS devices.

The community of Cardano prepares for the next upgrade of its network, the 7 of July.

During the week 20 to 26 June, the price of almost all cryptocurrencies registers a decrease. The few altcoins that showed spikes up to almost 9%, while the decline of the majority was up to 22% less.

The main criptomoneda of the market, BTC, presents a drop of almost -1,27%, a trend has been accumulating in recent weeks and are expected to be in -0,41% in the last month. Throughout the week the price of BTC remained in an average range of USD 9.400, with a significant drop on the 24th and 25th of June, according to the statistics of Live Coin Watch. The low was related by the CEO of CryptoQuant, Ki Young-ju, with a shipment of money to the houses of change on the part of the miners.

Ether, for its part, rises slightly and increases to 0.48%. The growth of ETH is held from the 21st of June, reaching a maximum of USD 248. However, the value drops significantly on days 24 and 25. On that same date, Geth, one of the most popular clients of Ethereum, announced that it will incorporate, in its most recent version, a limit amount for the transaction fees.

Meanwhile, the price of other cryptocurrencies of importance occurs mostly in low: ethereum classic (ETC) you lose 5% of XRP from Ripple records 2.1% less. Litecoin (LTC) wins 0,41%.

The cryptocurrencies most appreciated of the week are headed by zcash (SACS) and cardano (ADA).

Also this week can also highlight the cryptocurrencies to finance decentralized (DeFi) synthetix (SNX), compound (COMP), and nexus (NEXUS).

Zcash launches transactions armoured for iOS

With its focused approach in the privacy Zcash is in the first place at the top of the cryptocurrencies most appreciated. This week recorded an increase of approximately 8.3 per cent.

The price of the criptomoneda began to rise gradually from the 22 of June, a rise that coincided with the date of publication of a message in Twitter using which informs users of iPhones or iPads can download the version 1.0.15 of the Zecwallet Lite from the app store or the App Store. Are enabled and transactions are shielded Zcash for these devices.

The price of SACS rose from a minimum of USD 50,56 to a maximum of us $ 59,30 the days following the announcement, although it descends from the day 24. The market capitalization of the criptomoneda is USD 59.6 million and daily trading of USD 128 million.

Since June 22 we have enabled transactions shielded Zcash for iOS devices. Source: Live Coin Watch.

Cardano prepares an event on the update, Shelley

In the midst of the market downturn, Cardano highlighted by recording an average increase of 0.71%, while maintaining an advance that is observed from the end of may. The growth of the criptomoneda has been notorious since Charles Hoskinson, CEO of IOHK, explained the plans to implement the July 7 an update of the network, identified as Shelley.

This week the price of the ADA began with a value of USD 0,0798, closing these seven days in USD 0,0812. It reached its maximum value on the day 24 (USD 0,0867), at the time that the Foundation Cardano, IOHK and EMURGO reinforce the promotion of the event, “Cardano Virtual Summit 2020: Shelley Edition”.

The meeting, planned for days 2 and 3 July, seeks to discuss and prepare the community for the use of Shelley, a version that will allow the forks of the ADA form groups of staking. The market capitalization of ADA is USD 2.092 billion, and the volume of daily trading is us $ 56.4 million.

The community of Cardano prepares for a network update on the 7th of July. Source: Live Coin Watch.

Synthetix offers a rewards plan

Synthetix (Synthetix Network Token or SNX) is a protocol Defined for the issuance of assets-based on Ethereum. This week stands out among the tokens of the finance market decentralized, then the 19th of June, reported on a partnership with the project Ren (renBTC) and BitGo (WBTC) in order to generate a group of tokens backed by bitcoin.

In the framework of the association, from the 19 of June opened a promotion of 10 weeks during which each one of the platforms DeFi promises to the users token rewards to obtain a greater participation in the group. Each week Synthetix will split a prize of 10,000 SNX among the participants.

The token grew by an average of 27.9 percent from the date of the announcement. In these seven days, the price ranged from USD 1,401 and USD 1,847.The capitalization was of USD 137.9 million and the daily volume of USD 1.6 million.

The June 19, Synthetix has established a partnership with the projects Ren (renBTC) and BitGo (WBTC). Source: Live Coin Watch.

Nexus seeks to attract institutional investors

The company behind the DeFi Link was reported June 23 on the inclusion of the token in the exchange platform of BEQUANT, a comprehensive solution for professional investors of digital assets located in Malta and the United Kingdom.

The aim of the association is to provide the token to institutional investors, as explained in the blog Link. In parallel with this, during this week’s NEXUS was a breakthrough of 16,72%, with a significant growth between days 22 and 24 June. The value ranged between us $ 0,173 and $ 0,197.

A new peak price recorded this 26 of June (US $ 0,203), coinciding with the launch of Earn on Crypto, a new investment plan that offers gains of up to 5% in cryptocurrencies. The capitalization of NEXUS is USD of 111.5 million and the volume of trade in the last 24 hours is USD 4.4 million.

Nexus launched Earn on Crypto and provides interest on holdings in cryptocurrencies. Source: Live Coin Watch.

Compound distributes tokens of governance

The launch and distribution of tokens of governance compound, initiated the 15 of June, had an impact on the price of COMP in these seven days. With an average growth of 14,96%, the value of the token varied between USD 218,9 and USD 263,3. The progress was noticeable from day 21 (cotizándose in more than us $ 300), although it registered a low for the 24th of June.

Compound initiated the distribution of the tokens with 4.3 million out of a total of 10 million tokens for the users of the platform. From this fact the price of COMP shot up to over USD 100 for the first day of trading and capitalization came to USD 2,000 million. For the June 20, Compound exceeded MakerDAO as the protocol of finance decentralised with the largest amount of cryptocurrencies locked in loans at DeFi.

Compound was also included this 25 of June in the trading platform Coinbase, as highlighted in a blog post. Capitalization for this date is USD $ 675,3 million and the daily volume of USD 21.9 million.

The price of COMP rose after the distribution of tokens of governance. Source: Live Coin Watch. Source: Live Coin Watch.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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