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Ripple scam and split in Ethereum community

What happened in the cryptocurrency market over the past seven days

The cryptocurrency market has matured: the unpredictable volatility of 2017 has become alien to it. We analyzed data for 2021 and 2017 and found that the volume of monthly cryptocurrency trading in 2021 is three times the highs of 2017. 

The popularity of decentralized exchanges (DEX) is also growing, which already accounts for about 7% or $ 73 billion of the indicator of centralized trading floors. In the DEX segment, the undisputed leader (over 50% of the market – Ed.) 

Is the Uniswap exchange operating on the Ethereum network? 

The analyst also notes that, unlike the 2017 rally, institutional investors have played a significant role in the current rise of cryptocurrencies. At the same time, there is less hype around cryptocurrencies in 2021. Despite Bitcoin soaring above $ 50,000, Twitter searches never hit 2017. The expert also noted that the volume of bitcoin futures has quadrupled in three years, and the capitalization of stable cryptocurrencies has reached unprecedented heights of $ 50 billion.

The head of one of the very first American cryptocurrency exchanges, Kraken, Jesse Powell, in an interview with Bloomberg, spoke about the endless growth potential of “digital gold.” He believes that in the near future, people will begin to measure the value of things in bitcoins, the “modern dollar” has barely turned half a century, and it is already beginning to weaken before our eyes. “I can only predict, but if you change bitcoin in dollars, then the growth potential of its price is almost endless,” said the head of Kraken.

“Cryptocurrency is a reliable system that is changing the lives of many people.” said Apoorv Gupta, Entrepreneur | CMO at AMEPAY | Caph IQ. Moreover, he expects Bitcoin (BTC) will become the preferred store of value and will overshadow gold and the “first cryptocurrency” to hit the $ 1 million milestones within 10 years

The CEO of the American cryptocurrency platform Coinbase brings his company to the stock market. The valuation of the cryptocurrency exchange was about $ 90 billion, based on the price of its shares on the Nasdaq Private Market platform (the division of the NASDAQ exchange that trades shares of companies before they become public – Ed.). And here is the saying that shovel sellers get rich during the gold rush, as nowhere else comes in handy. The start of public trading is planned for the end of March. If successful, the fortune of the founder and concurrently CEO of the exchange will be more than $ 15 billion. that during the gold rush, sellers of shovels get richer, like nowhere else. The start of public trading is planned for the end of March. If successful, the fortune of the founder and concurrently CEO of the exchange will be more than $ 15 billion. that during the gold rush, sellers of shovels get richer, like nowhere else. The start of public trading is planned for the end of March. If successful, the fortune of the founder and concurrently CEO of the exchange will be more than $ 15 billion.

During the seven-day reporting period, the total capitalization of the cryptocurrency market increased by $ 177 billion. As of Wednesday evening, March 10, 2021, it amounted to $ 1,725.5 billion, which is 11.44% more than at the end of the last reporting period.

1. Bitcoin (BTC): On Wednesday evening, March 10, 2021, the value of “digital gold” reached $ 56206, having added 10.42% over the past seven days. The market capitalization of the “first cryptocurrency” for the week increased by $ 102 billion and, once again crossing the $ 1 trillion mark, amounted to $ 1,051.2 billion. The share of the “first cryptocurrency” in the total market capitalization decreased by 0.3 percentage points and at the end of the last reporting period remained equal to 60.9%.

2. Ethereum (ETH): The Ethereum community is going through hard times. The EIP-1559 network improvement proposal split it in half. EIP-1559, which was presented by Vitalik Buterin back in 2018, decided to get it out of the box and implement it as soon as possible due to problems with increased fees in the Ethereum network. This improvement presupposes a fairer system for calculating commissions: the introduction of a floating base fee, which will be irrevocably burned (in fact, adding deflation to the blockchain) and a tip to the miners, which the user can add at will so that his transaction is carried out in priority order. At the moment, the cost of commissions on the network is completely determined by auction and, therefore, can sometimes reach huge values. It is worth noting that the overwhelming majority of users and developers fully supported EIP-1559, but groups that control more than 60% of the miner’s capacity opposed it. Community disagreements need to be resolved by July 2021. It is for this month that a hard fork is planned, in which the implementation of the proposed improvement will take place. Check Ethereum price analysis for more clarity.

On Wednesday evening, March 10, 2021, the cost of Ether was $ 1,836. Following the results of the past seven-day period, the value of the asset increased by 15.11%. The share of Ethereum (ETH) in the total cryptocurrency market capitalization increased by 0.46 percentage points to 12.3%.

3. Binance Coin (BNB): The cryptocurrency of the well-known exchange was again able to rise to the third line of the rating, taking advantage of the weak weekly results of Cordano (ADA). On Wednesday evening, March 10, 2021, BNB was valued at $ 283.63. Following the results of the past seven-day period, the value of this cryptocurrency increased by 16.13%. The share of Binance Coin (BNB) in the total cryptocurrency market capitalization was 2.56%.

4. Cordano (ADA): On Wednesday evening, March 10, 2021, the ADA was worth $ 1.17. This crypto-asset became the only one in the top 6 to show negative results past seven days. The weekly decline in the value of Cordano was 4.88%. The share of Cordano (ADA) in the total cryptocurrency market capitalization is 2.17%.

5. Polkadot (DOT): On Wednesday evening, March 10, 2021, the DOT price was $ 38.78. Following the results of the past seven-day period, the value of this cryptocurrency increased by 3.86%. The share of Polkadot (DOT) in the total cryptocurrency market capitalization was 2.08%.

6. Ripple (XRP): Divorce and maiden name – this is how a recent press release from cryptocurrency company Ripple Labs and a major player in cross-border money transfers MoneyGram can be characterized. The companies said they have decided to wind down the partnership agreement, but of course, with the possibility of recovery in the future. Representatives of former partners especially complained about the complete lack of a basis for regulating the cryptocurrency industry in the United States and the arbitrariness of the authorities in this area but noted that the synergy of Ripple and MoneyGram was visible to the whole world with the naked eye. However, apparently, in order to slightly neutralize the destructive factor of the news about the rupture of such an advertised partnership, shortly before its announcement, Ripple representatives described their successes in the Asia-Pacific region very positively. “We were able to continue to grow our business in Asia and Japan, as there are no problems with a clear regulatory framework,” Ripple CEO Brad Garlinghouse reported on the success. He noted that after the SEC filed a lawsuit against the company he leads, Ripple signed more than 15 new contracts with banking institutions around the world. On Wednesday evening, March 10, 2021, the value of Ripple (XRP) was $ 0.464. The asset price has increased over the past seven days by 4.04%. The share of Ripple (XRP) in the total cryptocurrency market capitalization decreased by 0.07 percentage points to 1.24%. The asset price has increased over the past seven days by 4.04%. The share of Ripple (XRP) in the total cryptocurrency market capitalization decreased by 0.07 percentage points to 1.24%. The asset price has increased over the past seven days by 4.04%. The share of Ripple (XRP) in the total cryptocurrency market capitalization decreased by 0.07 percentage points to 1.24%.

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