Grin and Waves rebound in weekly top as market experiences decline | Crypto

During the week of December 6 to 12 the market suffers a fall. About 95% of cryptocurrencies see a significant drop in their prices. The few altcoins that achieve gains grew by percentages close to 22%, according to statistics from Coin Check Up.

The most appreciated cryptocurrencies in these seven days are headed by Grin (GRIN) preparing for its fourth and final scheduled fork; and Waves (WAVES) that is moving forward in its plans to include DeFi in its ecosystem.

The list of crypto assets for the week is completed with Monero (XMR) and the most recent update of your code; and Huobi Token (HT), whose backing company created a support fund for a Web3 project. Finally, it includes Filecoin (FIL) which was included in the educational program of the exchange Coinbase.

As for Bitcoin, the cryptocurrency slightly loses the momentum it had in previous weeks, although its price remains above USD 18,000. On average, the cryptocurrency loses 2.9% in seven days, although the trend in the last hours is growth.

The bitcoin rally that started last October saw the ecosystem’s major exchanges record record trading volumes last month, according to the recent CryptoCompare report. His calculations indicate that the volumes of the major exchanges throughout November increased 114% compared to the previous month.

On the other hand, Ether (ETH) is also falling and registers an average fall of 5.6%. Its value ranged between USD 534 and USD 605.

This week it became known that Ethereum miners would be willing to migrate if the EIP-1559 proposal, supported by Vitalik Buterin, is implemented. In it, it is proposed to make a change in the mechanism with which the commission of a transaction is determined. Although much of the community also agrees with the idea, most miners believe it will negatively affect them.

The prices of other relevant cryptocurrencies on the market they also tend downward. Litecoin (LTC) drops around 8.6%; Ethereum Classic (ETC) loses 3.1%; and Ripple’s XRP depreciates by 12.8%.

Grin advances preparations for its fourth scheduled fork

Grin’s network, cryptocurrency focused on privacy, prepares for its fourth scheduled fork, estimated for the beginning of January 2021 at the height of block 1,048,320. As part of the preparation, the team announced the release of version v5.0.0. Amid these announcements, the cryptocurrency is experiencing substantial growth this week, estimated at 22.7%.

Among the changes that are introduced with the new version are improvements in transaction fee calculations and the difficulty setting algorithm. Meanwhile, the price of the cryptocurrency ranges from $ 0.2790 on December 6, to a maximum of $ 0.3605 on December 11. After some corrections that same day, the value returns to the rise in the last days.

The Grin team indicates in their writing that they will stay true to the initial commitment before launch, so no more forks or network updates scheduled. “Any future update will be done ad-hoc through coordination in the Grin community,” he says.

The market capitalization is $ 20 million and the trade in the last 24 hours is $ 8 million.

fourth hard fork cryptocurrency

fourth hard fork cryptocurrency

The fourth fork of GRIN is scheduled for the first weeks of January 2020. Source: Coin Check Up.

Waves’ new alliance seeks to incorporate DeFi products into its ecosystem

This week the partnership between Waves and Bonded, a blockchain startup that uses algorithmic models to manage capital risks and implement experimental financial instruments.

The objective is to integrate the WAVES ERC-20 token in the intelligent instruments of the Bonded network in order to enter decentralized finance (DeFi). The announcement was made on December 10, as the WAVES cryptocurrency posted an 11.5% advance.

Waves’ plan is that its token serve as collateral in Bonded smart contracts. As explained in Medium, the startup is developing yield farming products and others based on the commodity index.

During the first stage of integration, WAVES holders will have access to the Bonded loan protocol and additional liquidity for the WAVES ERC-20 token, in addition to liquidity gains in BOND tokens. Meanwhile, the WAVES cryptocurrency is trading at a high of $ 9.12. Despite the corrections, it maintained sustained growth in these seven days.

At a later stage, the integration between Bonded and the Gravity network (Waves cross-chain) is sought, the publication notes. “The collaboration aims to make the DeFi space more inclusive and accessible.”

To date, the market capitalization of WAVES is USD 873.6 million and the 24 hour trading volume is USD 138.6 million.

bonded red Gravity platform

bonded red Gravity platform

Waves is in the weekly top for the second week in a row. Earn more than 11% in growth. Source: Coin Check Up.

Monero Releases New Oxygen Orion Code Update

Following the non-contentious hark fork of the Monero blockchain, executed on October 17, the network Releases New Oxygen Orion Code Update this December 7. The announcement was made on the Monero blog, coinciding with the 9% growth in the price of XMR, the native cryptocurrency.

The first version of the Oxygen Orion software (v0.17.0.0), offered support for a new type of ring signatures known as CLSAG. This mechanism reduces the size of Monero transactions by approximately 25%, while the verification speed improves by 10%.

However, some node stuck issues required patching and releasing new versions after the fork. The most recent is the minor point version v0.17.1.6 of the Monero software, and includes improvements to the P2P network layer, according to what the equipment indicates.

Despite these changes, the price of XMR does not appear to have been significantly affected and maintains a constant rate of growth since October. Its value reached a peak of USD 148.44 on December 12.

As of press time, XMR’s market capitalization is $ 2.56 billion and daily trade volume is $ 538.9 million.

XMR price constant rising

XMR price constant rising

Monero has released several updates to the Oxygen Orion software after the October 17 fork. The cryptocurrency earns 9%. Source: Coin Check Up.

Huobi creates fund for Web3 project sponsorship

Huobi Global reported on December 8 on the start of a sponsorship program for Polkadot, a cross-chain, open source Web3 project. For this I will make an investment of 5 million USDT tethers to create a background. The announcement coincided with the price increase of the Huobi token, HT, which since that date has seen an increase estimated at 1.4%.

The fund will be used to promote ecosystem development and financially support projects and individuals in their contribution to promoting the prosperity of the Polkadot ecosystem. Meanwhile, the price of HT continued to rise between December 8 and 11, reaching a high of $ 4.18. Since that date he has experienced a slight drop.

According to Huobi’s post, developers, activity starters, content creators, Polkadot ambassadors, and anyone and any organization who wants to contribute to the ecosystem can request sponsorship.

The market capitalization of the cryptocurrency is USD 813 million and its daily trading volume is USD 73 million.

cryptocurrency market price value

cryptocurrency market price value

Huobi Token registers a growth of 1.4% in these seven days. Source: Coin Check Up

Filecoin is included in Coinbase’s earnings program

The exchange Coinbase announced the inclusion of Filecoin (FIL) to its learning and rewards program known as Earn. The information was released on Twitter on December 10, while FIL began a slight increase that to date reaches 1%.

Filecoin is a decentralized marketplace for digital data storage and retrieval, which anyone can join by providing storage hardware or using the network to access and store data. In this way, by joining the Coinbase earnings section, exchange users are allowed receive FIL by watching educational videos about the project.

The crypto asset only saw a slight advance from this ad and it kept a more or less even price throughout the week. FIL joins the list of other crypto assets such as Stellar, Compound, Maker and Band, already included in the Coinbase program.

FIL’s market capitalization is $ 1.34 billion and daily trade volume is $ 172.5 million.

FIL decentralized market finance

FIL decentralized market finance

This week Filecoin was listed on Coinbase Earn and posted slight growth. Source: Coin Check Up.