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The Most Cryptocurrency Projects That Stood Out During The Week

According to criptonoticias, During the week of September 19–26, the cryptocurrency market turned red. More than 80% of the altcoins showed falling prices. The few cryptocurrencies that made progress achieved an average growth of up to 7%.

The cryptocurrencies appreciated during the week are led by Stratis (STRAT), which is voting on the proposal for a new blockchain. The second place goes to NEXO, a decentralized finance project that was included in the top companies of the crypto valley of Switzerland this 2020.

The 5 cryptocurrencies of the week also include Cardano (ADA), which this week offered details on the launch of a new developer portal. The top is completed with Waves (WAVES) and Monero (XMR).

Despite Bitcoin’s decline, on-chain data analytics firm CryptoQuant spoke this week about some long-term bullish bitcoin indicators. Among them, he mentions a BTC indicator that allows measuring its purchasing power when associated with stablecoins.

A recent report from the CoinGecko platform estimates that cryptocurrency farmers, who make life on Ethereum’s decentralized finance platforms (DeFi), pay up to $ 100 a day in commissions.

The prices of other relevant cryptocurrencies are also trending down. Ethereum Classic (ETC) drops 2.4%; Ripple’s XRP Loses 4%, and Litecoin (LTC) depreciates by 6.6%.

The idea of the company is to execute a transition process towards the new blockchain, for which it invites the owners of STRAT to participate in a vote between September 25 and October 9 to approve the proposal.

A vote will initially be taken on the supply of the new STRAX tokens from the current STRAT holdings, and the creation of an additional 25 million STRAX. STRAT’s price started at $ 0.475 on September 19, closing at $ 0.507 on September 26.

As explained on the Stratis blog, each vote will be weighted with a value equal to the balance of the respective voting portfolio. “Such voting functionality has been incorporated into Stratis Core Wallet, allowing the user to download and install the latest version and cast their vote.” STRAT’s market capitalization is $ 50 million, and daily trade volume is approximately $ 11 million.

In this same period, Nexo adds support for the stablecoin HUSD, an ERC-20 token from the Huobi exchange, pegged 1: 1 to the US dollar. It joins the platform’s roster, which includes XRP, bitcoin cash (BCH), and litecoin (LTC), as well as BTC, ETH, BNB, and NEXO.

Nexo’s native token began to increase in price significantly from September 25, reaching a peak of $ 0.131 on the 26th.

By disclosing the information about the support for HUSD, Nexo explains that with this integration, it is possible to borrow fiat or cryptocurrencies against HUSD, through the platform’s credit lines. They claim that holders of the stablecoin can earn up to 10% interest in HUSD through the product “Earn on Crypto.”

NEXO’s market capitalization is $ 72.5 million, and its 24-hour trading volume is $ 1.8 million.

According to the publication, developers who join the portal will be able to access documentation, as well as participate in spaces to share ideas, collaborate, promote their projects, and join discussions. To this end, they will include articles, videos, infographics, reports, and tutorials, among other materials.

Meanwhile, ADA started to rise in price substantially from September 24, after hitting a low of $ 0.077.

Developers interested in participating in the new portal can sign up for a waiting list. “As an early subscriber, you will have access to exclusive content while the portal is being prepared,” the Cardano team promises.

ADA’s market capitalization is USD 2,923 million, and its daily trading volume is USD 147 million.

The new link is part of the Gravity Hub, a set of tools released by Waves in late 2019 to facilitate interoperability between blockchains. Gravity has been on the public testnet since last July and is now joining the developer testnet.

WAVES peaked on September 26 ($ 2.51), after hitting a low of $ 2.13 on September 22.

The idea with Gravitiy is to demonstrate token exchanges, especially with the Ethereum blockchain. It is estimated that next December it will join the main network.

At the time of writing, WAVES ‘market capitalization is $ 247 million and daily trade volume is estimated at $ 31.5 million.

Meanwhile, the price of XMR registers a more or less constant growth in these seven days that average 0.2%.

According to the CriptoNoticias report, one of the main improvements of the new code is that it will add support for a new type of ring signatures. This will reduce the size of transactions by approximately 25%, while the verification speed will improve by 10%.

The price of the cryptocurrency started the week at $ 92, reaching a low of $ 86 on September 21. On that date, a new advance started that took the value of XMR to a peak of USD 94 on September 26.

According to the group of network programmers, the entire process that will be activated with the update is carried out maintaining security levels.

At the end of this report, the market capitalization of XMR is USD 1,661 million and the trade in the last 24 hours is USD 55.8 million.

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