Between January 25 and 31 the cryptocurrency market presents a clear upward predisposition. Most cryptocurrencies registered significant increases in their prices, some of which reached almost 40%.
The price of BTC experiences an important increase in these seven days, with a sustained growth that brought its value from USD 8,326 on the 25th, to USD 9,271 at the time of this writing, according to Live Coin Watch statistics. On average the cryptocurrency rises by 9.35%.
The price of other important cryptocurrencies also shows significant increases. Ether (ETH) rises on average 10.56%, Ethereum classic (ETC) increases more than 26% and ranks among the most valued, as does litecoin (LTC) that grew more than 20%, while the XRP price of Ripple records 5.85% more.
In the top of the most appreciated of the week are siacoin (SC), zcash ZEC) and ethereum classic (ETC) with increases of between 27% and 40%. They are followed by litecoin (LTC) and cardano (ADA), with growths around 19% to 21%.
The siacoin token (SC), of the decentralized Siacoin cloud storage platform, is in the first place among the most valued crypto assets. After maintaining a more or less constant value since January 25, it rose slightly on January 28, when it went from USD 0.0016 to USD 0.0018 . Another jump is recorded on day 28 when it passes from USD 0.0017 to reach a peak of USD 0.0024.
For this January 31 the value is USD 0.0021. The growth was around 40%, while the market capitalization reached USD 90.6 million and the volume of trade in the last 24 hours was about USD 6.3 million.
Among the most outstanding information about this cryptocurrency, the announcement of the update v18.104.22.168 stands out, with which «sustained speeds of more than 1 gpbs of loading and unloading can be achieved», according to what is stated on Twitter . They add that this version also updates the policy of contractual expenses that allows Sia to be much more efficient with money when contracts with new hosts are formed. While several errors are fixed, the FUSE controller now supports the ‘allow-other’ flag, as published by the team on Reddit.
Zcash is one of the cryptocurrencies focused on privacy. This week recorded an increase of approximately 31.24%. The increase was constant during the week and its value went from USD 48.64 to USD 65.18 in seven days. The market capitalization of ZEC is USD 575.5 million and the daily trade of USD 486 million.
For January 30 a maximum is observed in the price that brings its value to USD 69.26 . This increase coincides with the announcement that part of the mining rewards in the Zcash network will go to a fund to finance developers linked to the project, while the current financing system expires in October this year.
In total, 20% of the profits of the miners to decipher each block go to that financing fund, after a vote in which 88 voters of 119 possible participated.
Ethereum classic (ETC) recorded a 26.74% growth this week to rank third among the most appreciated cryptocurrencies of the week . The cryptocurrency went from trading at USD 8.29% at the beginning of the week to be worth USD 10.93 at the time of writing this note.
The price advance is observed from January 26, reaching a peak of USD 12.72 on January 29. After that date it registers a slight fall, whose decline is accentuated this January 31. The market capitalization is USD 1,275 million and the trade in the last 24 hours is USD 2,184 million.
The platform recently successfully executed the Agharta strong fork, through which the Ethereum Constantinople bit-by-bit information processing code was added to the main ETC network, which will generate greater compatibility between the two.
Additionally, the team is currently working to offer full byte code compatibility with the main ETH network by March 25, 2020, in block 10,500,839, a date that they already promote as “Phoenix Day” . That day, two strong bifurcations will be activated, the developers explain: ECIP 1061 (EVM and Aztlan protocol updates, and ECIP 1078 (Phoenix EVM and protocol updates).
The Litecoin cryptocurrency , currently located in sixth place in terms of market capitalization (estimated at USD 4,311 million), is quoted on this date at USD 66.92. With a growth of 23.48% in the last 7 days, the cryptocurrency experiences a significant increase since January 30 , with trade volume of USD 1,014 million.
The growth is gradual from January 25 until reaching a USD peak of 68.93 on January 30, with slight corrections in the last hours. This LTC price advance coincides with a comment posted by cryptocurrency founder Charlie Lee.
On his Twitter account, Lee published a proposal to create a financing mechanism based on the profits of mining groups in that network. The idea would be that the mining pools “voluntarily donate a portion of the block reward” that corresponds to them for their mining activity.
The price of the cryptoactive started the week with a value of USD 0.0436, closing these seven days with a value of USD 0.0525. After reaching two peak of USD 0.0558 and USD 0.0560 on January 29 and 30, respectively, the price fell again in the last hours. The market capitalization is USD 1,362 million and its daily trade volume is USD 89.9 million.
The Cardano team (ADA) revealed on January 27 a new document detailing how smart contracts will be implemented in its next update, called Goguen. The system adds the ability to build decentralized applications (DApps). However, the release date of this phase is not yet defined.