Cryptocurrency

Zcash, NEM and DASH are ranked at the top of cryptocurrencies this week

During the week from 1 to 7 August, the market cryptocurrencies it’s still growing. In a similar way to the movements of the previous week, the increases observed in the vast majority of the altcoins exceed 23%.

The price of bitcoin continues to grow in these seven days, with an average increase of almost 2%. The value ranged between us $ 11.300 and USD 11.700, according to statistics of Live Coin Watch, reaching the $ 12,000 on August 2. The analyst of markets, Willy Woo, expressed his conviction that we are in “the beginning of the main phase of the market of bulls”. In his opinion, the jump to the 11 thousand dollars and gave a start to this stage bullish.

Ether is also still growing with a weekly advance that exceeds the 9%. The price started to climb the 2 of August, when it recorded a maximum of us $ 412. The monthly growth of ETH is estimated to be 58%. In parallel, the statistics of the commercial traffic of the DEX in Ethereum during July had an increase of 184%, compared to $ 1.520 billion traded in June.

Other cryptocurrencies relevant market are presented in low. Ethereum classic lost 7%, and litecoin is low 2%. By his side, XRP from Ripple grows at about 13% and returns to be placed in the top weekly.

The five cryptocurrencies most appreciated this week are led by Zcash (SACS), NEM (XEM) and DASH. We continue to GRIN and XRP from Ripple.

Zcash throws update that addresses proposal Development Fund

According to the information published in the blog of Electric Coin Company (ECC), the company behind the development of Zcash, this 5 of August was released the update 3.1.0 in the test network. This version includes the preparations of the code for the fourth update of the network, identified as a Canopy.

The trial version includes improvements such as the proposed ZIP214, by which they will implement new rules of consensus for the Development Fund Zcash. The creation of this fund is currently subject to debate in the community. The price of SACS began to climb from August 2 until you reach $ 100 the day 6.

Meanwhile, the criptomoneda recorded a growth of 23%. It is estimated that Canopy is active in the main grid to the height of the block 1046400 (November 2020). At the time of writing this article, the market capitalization of SACS is USD 932 million and daily trading of USD 315 million.

The trial version 3.1.0 protocol Zcash prepare the network for the update Canopy. Source: Live Coin Watch

The criptomoneda of NEM is trading at the brokerage house BitFlyer

According to a message posted on the Twitter account of MEN from this August 6, the criptomoneda XEM is available for exchange in the house of the japanese stock market BitFlyer. The announcement coincided with a significant increase in the price of XEM, which reached a maximum of USD 0,065 that same day.

The value of XEM is maintained on the increase since that date. The average growth was almost 18% in the week. Meanwhile, the team of NEM Trading considers that with the inclusion of the criptomoneda in BitFlyer, you have a greater momentum and growth of the community, both in Japan and in other asian countries.

NEM also provided information to users about the use of XEM for booking and paying for tourist services of the company Travala. To date, the market capitalization of XEM is around USD 561 million, with a volume of daily trade of USD 18 million.

The criptomoneda of NEM is used for the payment of tourist services in Travala. Source: Live Coin Watch

Dash adjusts reward of miners and launches VISA card in Mexico

Thanks to the signing of a commercial agreement between Dash and the platform Tauros, mexican users of bitcoin can already redeem their cryptocurrencies by weights, then reload a Visa debit card and make purchases at any store with point-of-sale.

The information was given to know this, August 4, at the time that the price of the DASH progress was made on that date, when it began a rise that took its value to a peak of 104 usd for the 6 of August. The criptomoneda had a growth weekly average of 15%.

In addition, this week’s Dash Core Group decided to adjust the reward of miners and masternodos, as a strategy to produce a positive impact on the price. The community of Dash also donated computing power to support the initiative of scientists of [email protected], that investigate therapies to treat the coronavirus. The market capitalization of the DASH finished the week at USD 908 million, with a daily trade of us $ 229 million.

The community of Dash donated computing power to research on therapies for coronaviruses. Source: Live Coin Watch

Protocol of privacy of Grin is implemented in the network Nervos

This August 6 it was announced the plans of Grin to support the implementation of the protocol Mimblewimble in the ecosystem blockchain of Nervos. In this way, the users of this platform will be able to conduct private transactions using the token native CKB®.

In the framework of this event, the value of GRIN reached a peak of USD 0,555 on the 6th of August. The plan of development to incorporate Mimblewimble in Nervos is divided into three phases: schema design, technical specifications and implementation. These stages will have a minimum duration of 7 to 8 months, according to a publication in a Medium.

The average growth of GRIN was a little more than 14%. Developers Grin and Nervos will also explore interoperability between the two networks. For the time of the writing of this article, the market capitalization of the criptomoneda is 25.5 million dollars, while the volume of daily trading is USD 5.6 million.

The implementation of the protocol to privacy Mimblewimble in Nervos will be implemented in three phases. Source: Live Coin Watch

Increase sales of investment funds in XRP of Grayscale

Last July 31, the firm gestora de fondos de cryptocurrencies, Grayscale, announced on Twitter a significant growth of their product investment through funds-in-cryptocurrencies. Points out that the purchasing of XRP went from $ 3.1 million to $ 6.2 million in the last few weeks.

The increase in investments of Grayscale is produced shortly after several posts and comments of the community of Ripple indicate that XRP is one of the cryptocurrencies that will be accepted in the payment system of VISA. Prior to this, the technology platform, financial Nium, a board member of Ripple, had signed an agreement with Visa. Meanwhile, the price of XRP started a climb a gradual process that took its value to $ 0,322 2 August. In the course of the week his price has advanced 13%.

Another novelty is the launch of the new API for payments with Ripple, which allows more merchants to accept XRP. This week, it also published the quarterly report of Ripple, according to which the sales of XRP increased by 1,700% in the second quarter of 2020. To this date, the market cap of XRP is $ 12.967 billion. The volume of trade in 24 hours has been of 785 million dollars.

XRP has been included in the system of VISA payments, along with bitcoin and ether. 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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