From July 11 to 17, 2021, the cryptocurrency market maintains a mostly downward trend. Almost all of the altcoins registered falls in their prices, according to the statistics of Coin Check Up.
Among the few cryptocurrencies that show growth are NEM (XEM), which released an update to its desktop portfolio; Y small love potion (SLP), the Axie Infinity game rewards token that this week marked a new all-time high.
The weekly top closes with beam (BEAM), whose margin trading was activated on the Binance exchange; Y grin (GRIN), which launched a service to verify payments.
The price of bitcoin continues with a red balance this week, although it maintains the lateralization around USD 31,000 and USD 34,000. On average the pioneer cryptocurrency lost 6.6% in seven days, and is trading at USD 31,609 at the time of writing.
Despite the drop, market analyst Willy Woo reiterates his confidence that the cryptocurrency will regain its upward trend very soon. Woo assured that BTC could be having a great movement in the market starting this Saturday, July 17, with a range until the following Saturday, the 24th of this month.
Ether (ETH), Ethereum’s native cryptocurrency, is also still down, moving between $ 2,174 and $ 1,870 in seven days. On average it decreased by 11%.
Amid the crash, Ethereum is gearing up for its next update: the London hard fork. This July 15, the Ethereum Foundation reported that the block in which the improvements of this fork will be activated has already been defined, which will occur between August 3 and 5 at the height of block 12,965,000.
The prices of other relevant cryptocurrencies by market capitalization also fall with bitcoin. XRP loses 7%, while litecoin (LTC) depreciates by 10%. Meanwhile, the value of Polkadot (DOT) falls by 21%; and cardano (ADA) fell by more than 12%.
NEM’s Symbol is used in Colombia’s blockchain experimentation space
NEM’s advisor for Latin America, Pedro Gutiérrez, reported this week that the Colombian government has given space for work with NEM’s Symbol blockchain in its public entities, through the Ministry of Information Technology and Communication (MinTIC).
The use of Symbol will be made through the Peersyst Technology services company, a software developer for the Symbol blockchain. All this within the framework of launch of a space for experimentation with blockchain held on July 13 in the South American country.
MinTIC made a live broadcast from its social networks to make the testing space official. Minister Karen Abudinen said that Symbol’s project is included in the National Development Plan proposed by the Colombian government in 2018. It is part of the process of digital transformation and the use of emerging technologies within the public sector.
Meanwhile, the native cryptocurrency of this network, XEM, began a period of substantial growth a few days after these announcements. The value of cryptocurrency ranged between $ 0.1091 and a high of $ 0.1558, amount to which it arrived this July 16. On average, the crypto asset rose more than 29% in seven days.
Additionally, it was reported that a new version of the Symbol portfolio is available for download from this July 14. According to the message posted by the NEM team on Twitter, version v1.0.4 includes stability improvements and fixes some bugs.
At press time, XEM’s market capitalization is $ 1.44 billion and daily trade volume is $ 644 million.
The price of XEM peaked at $ 0.1558 on July 16. Source: Coin Check Up.
Axie Infinity Game Token Reaches New All-Time High
In-game token Axie Infinity hit a new all-time high (ATH) in price this week. As reported by CriptoNoticias small love potion (SLP) broke its previous ATH, set at the end of April at USD 0.40 per unit.
For this July 13 the figure reached that value again. The token remained in the range of $ 0.35 and $ 0.40 between July 13 and 15, before declining in the last days. On average it rises just over 15%.
The rise in SLP occurs as a consequence of the popularity of the game Axie Infinity among the major non-fungible token (NFT) markets. The video game, based on the Ethereum blockchain, offers a profit mechanism based on the breeding, development and battles of digital creatures (Axies), which have aroused the interest of a large number of users.
So far in 2021, SLP has multiplied its value by 20. At the beginning of the year, the token barely around 0.01 was traded Dollars. As of press time, the market capitalization is USD 148 million and the daily trade volume is USD 183 million.
The price of SLP ranged from $ 0.19 to $ 0.40. On average it rose just over 15%. Source: Coin Check Up.
Grin Developers Launch Payment Verification API
According to information posted on the Grin community forum, recently a beta version of an API was created. With it a service is offered check test of public transactions. The service is sponsored, developed and hosted by grinnode.live, the network of nodes run by the users of this platform.
It is an API that makes it easy for anyone to verify proof of payment of a GRIN transaction.
Since GRIN is a privacy-based cryptocurrency that uses the MimbleWimble protocol, proof of payment is configured by default code every time a transaction is sent to a destination address. These tests are used online to resolve payment disputes.
“The main objective of our service is to provide arbitrage tools that could help GRIN return to the decentralized exchange Bisq,” the publication states. GRIN was delisted from the exchange in 2019 following constant arbitrage issues. Therefore, it is expected that this new tool will also be useful for other platforms online who use cryptocurrency.
As part of this launch, the price of GRIN rises to highs that are close to USD 0.33 until July 13, but the following days it falls and is shown with successive corrections. Even so, the weekly advance was over 14%.
The current capitalization of GRIN is USD 23 million and the daily trade volume is USD 1.8 million.
GRIN’s price started to rise significantly from July 13. As of that date it registers constant ups and downs. Source: Coin Check Up.
Beam presents a new version of the portfolio
A new version of the wallet Beam Wallet by Beam, another privacy-based cryptocurrency, was unveiled on July 13, from which date it is available for download on Windows, Mac, Linux and iOS.
According to the team of this project on Twitter, the new version, identified as Fierce Fermion v6.0, includes a new user interface and a series of improvements that promise to facilitate the management of decentralized applications (Dapps) and operations in DeFi.
In parallel, the exchange Binance reported this July 14 that your platform enabled margin trading for BEAM. This broadens the commercial options for those interested in trading cryptocurrencies on this network, identified as “beamers” in the Beam community.
Against this background, the value of BEAM ranged between $ 0.4264 and $ 0.6396 during the week. It reached that maximum value on July 11 and since then it has been registering slight rises and falls in the following days. The weekly average was around 13% until July 16. At the close of this edition is 2%, with a strong downward trend in recent hours.
BEAM’s market capitalization is USD 41 million and the daily trade volume is USD 8.2 million.
The price of BEAM reached a maximum of USD 0.6396 this July 11, growing on average up to 13%, although the value decreased in the last hours. Source: Coin Check Up.