Key facts:
Stellar launches first stablecoins from Argentina and Brazil, the price scales more than 100%.
XRP is making progress on Spark airdrop preparations and is up over 70%.
After about fifteen days with a majority upward trend, the price of altcoins destabilizes during the week of November 21-28. Around 60% of cryptocurrencies see advances in their prices and achieve increases of around 100%, according to statistics from Coin Check Up.
The most appreciated cryptocurrencies in these seven days are led by Stellar (XLM), with the issuance of stablecoins in Argentina and Brazil; Y Ripple XRP, whose network is preparing for the launch of a new token.
The list of the most outstanding crypto assets of the week is completed with NEM (XEM), the exchange of which was offered at a discount as part of Black Friday; Y Cardano (ADA) with its new proxy program for cryptocurrency ADA. Also included DASH (DASH), that advances as a means of payment in the retail market.
As for Bitcoin, the cryptocurrency loses momentum that was bringing it ever closer to its all-time high of 2017. After briefly surpassing $ 19,000, the price of BTC drops to $ 16,300 on November 26. On average the BTC weekly decline was 7.46%. Although in the last hours a recovery of 5% has been registered.
The reasons for the correction could be various. As published in CriptoNoticias, one of them is that the operators would have sold some of their positions to take profits. Another reason would be an increase registered in the exchanges with several whales moving thousands of bitcoins.
The price of Ether (ETH) also fell on the week, oscillating between $ 490 and $ 620, for a decline 1.1% average. It is estimated that the value of the cryptocurrency was dragged down by the decline of bitcoin. Meanwhile, the community is preparing for phase 0 of Ethereum 2.0 on December 1, 2020. 100% of the required 524,288 ethers (ETH) have already been deposited into the corresponding smart contract.
The prices of other relevant cryptocurrencies on the market they register ups and downs. Litecoin (LTC) loses around 14.3%; Ethereum Classic (ETC) rises by 1.7%; and Ripple’s XRP gains more than 47% to place in the weekly top.
Stellar introduces the first stablecoins from Argentina and Brazil
The Stellar team, in partnership with the cross-border payments company Settle Network, issues the first anchored cryptocurrencies or stablecoins from Argentina (ARST) and Brazil (BRLT). The coins are pegged 1: 1 to the value of the local currency of each country: the Argentine peso and the Brazilian real, respectively.
Days after the dissemination of this information, Stellar’s cryptocurrency, XLM, experienced an advance that to date is estimated at 109%. As CriptoNoticias reported, ARST and BRLT are issued on the Stellar blockchain and can be traded against ETH, BTC and other stablecoins.
The news was accompanied by another announcement related to an update from Stellar’s network in order to implement Protocol 15. The information was released on November 23, coinciding with a vertiginous rise in the value of XLM that almost reached almost 140% on November 25. The price ranged between $ 0.1160 and $ 0.2264.
With Protocol 15, introduce improvements to sponsored bookings and in the reclaimable balances of the platform. “They will help make the process of creating new applications easier, simpler and faster on the Stellar blockchain,” the team notes on their blog. XLM’s market capitalization is $ 4.65 billion and last 24 hours trade is $ 2.45 billion.
The Stellar team ran a network update on November 23 to implement version 15 of their Protocol. Source: Coin Check Up.
Ripple’s network prepares for Spark token airdrop
In the framework of the partnership between Ripple and the new blockchain platform Flare Network, both teams prepare for the incorporation of XRP cryptocurrency into the Flare ecosystem and the launch of the Spark token on December 12. This while XRP remains in the top of the most appreciated cryptocurrencies for the second consecutive week, with a weekly increase of 47%.
Ripple and Flare Network’s plan is to conduct a Spark airdrop, which will be assigned to XRP holders. This token is proposed as a solution to give more use to XRP through the Flare network, allowing users to access functions that are currently not available on the XRP Ledger network, such as smart contracts.
The price of the cryptocurrency registered an upward momentum that was accentuated on November 23. Its value reached over 70%, going from USD 0.4390 on that date, to a maximum of USD 0.7476 on the 24th. After several corrections, it has resumed the upward trend in recent days.
The appreciation of the cryptocurrency has generated strong demand. According to Philip Gradwell, chief economist at Chainalysis, the flow of XRP on exchanges has been more than triple normal. However, the strong selling pressure it has not been enough to lower the price of the asset. To date, XRP’s market capitalization is $ 17.74 billion and the 24-hour trading volume is $ 16.23 billion.
XRP maintains its upward trend and remains in the top for the second week in a row. Source: Coin Check Up.
NEM blockchain certifies Alicante Lottery plays
This week it was learned that the lottery 6 administration of Alicante, in Spain (known as El Negrito) incorporated the certification of the plays made online on the NEM blockchain. The announcement was made on November 23, simultaneously with the start of a significant advance in the price of XEM, the native cryptocurrency, whose growth is estimated at 37%.
The certificate that is delivered to the client is registered in the blockchain and is proof that the online plays made by a client are their property. With this I know replaces the physical ticket and the buyer can get paid if they win, even if the ticket is lost or stolen.
Meanwhile, the value of XEM peaked at $ 0.1993 on November 25. The rise is sustained in the following days and, despite slight corrections, the price rises by more than 14% in the last 24 hours.
This recent increase appears to be related to an offer made by the decentralized platform Changenow.io in the framework of Black Friday. To celebrate the so-called “black Friday” 30% discount was offered in the XEM exchange. To date, the market capitalization is USD 1,670 million and the daily trade volume is USD 78 million.
The price of XEM started to rise significantly on November 23 and 27. Earn about 37% in seven days. Source: Coin Check Up.
Cardano launches new delegation program
The Cardano network launched a new proxy program for the ADA cryptocurrency. As the company publishes on its Twitter account, it is a new mechanism for redistribute cryptocurrency funds and bring them to the community. The information was released on November 24, while ADA began an ascent that to date reaches 24%.
Cardano’s plan is that 15% of the ADA maintained by the company is distributed in new delegation groups, which will be identified as purpose groups and incubation groups.
According to what the publication explains, the purpose groups will receive the support of the company if they are determined that they support the broader mission of economic inclusion, decentralization and technological sustainability. Will be selected based on your mission, technological capabilities and geographic location. On the other hand, the incubators will be small groups selected to receive support, with the aim of maximizing the diversity of the participants of the Cardano ecosystem.
The price of ADA reaches a peak of $ 0.1807 on November 24, when the news is known. Despite registering a decrease on the 26th, in the last hours a new rise has been observed. The market capitalization is $ 283 million and the daily trade volume is $ 8.9 million.
Cardano plans to distribute 15% of its ADA holdings to delegation pools. Source: Coin Check Up.
Dash increases its value in the framework of black friday
In recent weeks, several businesses in Venezuela have incorporated cryptocurrencies as a means of payment. The list always includes Dash, whose price has increased by 13%, in these last seven days.
The cryptocurrency team promotes on its social networks the fact that, since Friday, November 27, the Pizza Hut restaurant chain in Venezuela started processing payments with Dash, BTC, XPT, ether, litecoin, BUSD, DAI, USDT and BNB in establishments in Caracas, Maracaibo, Barquisimeto and Maracay. Something similar announced Supermercados Rattan in previous days, indicating that it will accept cryptocurrencies at its location on the Venezuelan island of Margarita.
Meanwhile, the price of Dash has been on the rise since November 24, reaching a high of $ 120.99 that day. It registered a fall along with the rest of the market on Thursday 26, to return to the rise from Friday, November 27. Its value increases in the context of Black Friday, since the Changenow.io platform offers discounts until November 30 for payments with Dash.
The market capitalization of the cryptocurrency is $ 1.02 billion and its daily trading volume is $ 714 million.
The Changenow.io platform offers discounts for Dash payments. Its value increases by 13%. Source: Coin Check Up