Green week in the cryptocurrency market. Bitcoin returned to retake $40,000 while Ethereum’s cryptocurrency ether (ETH) tried (albeit unsuccessfully) to break $3,000 per unit again.
As is often the case with bitcoin (BTC) movements, most altcoins with high market caps moved in the same direction. Almost everything was positive during the past week, including several 20+% surges among the top coins.
Among many interesting price movements in the market, the most prominent cryptocurrency in the top is Ethereum Classic (ETC)whose increase in one week reached more than 50% at the close of the day this Sunday, March 20.
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Then we find AAVE, with an increase in its market value of more than 30% in the same period; while Avalanche (AVAX) It rose almost 25% between Monday and Sunday.
The other 2 cryptocurrencies in the top that close the bulletin for this Monday, March 21, also increased more than 20% in the last 7 days: DASH, with just over 23% above; and WAVESwith more than 22%.
The week was marked by bitcoin rising nearly 10% to return above $41,000; and almost 14% of ETH to touch 3,000. But we can also highlight from the top 10 (in addition to AVAX) Solana (SOL) and Cardano (ADA); both above 10% appreciation on exchanges.
Ethereum Classic reaffirms itself in favor of mining
“The merger”, that long-awaited update that precedes the arrival of Ethereum 2.0, seems to be getting closer. And with it, also nears the end of the Proof-of-Work (PoW) consensus mechanism which will be changed to Proof-of-Stake (PoS). Before that, Ethereum Classic (fork of Ethereum) reaffirms that its path is still in PoW.
Thus, current Ethereum miners who would be left out of the ETH generation process would be “welcome” to keep mining ETC through the ETChash algorithm. Thus it follows from a report published on the Ethereum Classic website, following a call between the developers.
Although ETH rose considerably during the week, ETC did it even more: 50.51% rise in which its price ended up closing at 38.17 dollars per coin. One that, it should be noted, had not touched throughout this year.
At the time of writing, Ethereum Classic ranks 30th in the top cryptocurrencies, with a market capitalization of more than $8 billion and an exchange trading volume of more than 3 billion in 24 hours.
launch ofand Aave V3
The second most appreciated cryptocurrency of the week was Aave, precisely coinciding with the release of version 3 of its decentralized finance (DeFi) protocol.
With Aave V3, developers are aiming for more decentralization, strengthening the use of decentralized applications, and support for running on various blockchain networks: Polygon, Arbitrum, Avalanche, Fantom, Harmony, and Optimism, to which Ethereum will be added later.
During the week, Aave appreciated 31.89%. At that time, its market price went from 115.6 to 152.6 dollars. Despite that rise, the cryptocurrency it keeps well below the price with which it started this year: more than 250 dollars.
Aave currently has a total market capitalization of over $2.5 billion, with 24-hour trading volumes of over $340 million.
avalanche
A little less than two weeks ago, it was presented Avalanche Multiversedescribed by platform representatives as “an incentive program of up to $290 million focused on accelerating the adoption and growth of subnets.”
The focus of this “multiverse” is to “support new ecosystems, including blockchain-enabled gaming, DeFi, NFT, and institutional use cases,” Avalanche posted on Twitter.
Now, investors seem to have set their sights on this project, as supported by the increase of up to 24.87% of the AVAX cryptocurrency During last week. That percentage occurred with the jump of the currency from less than 68 to 84.84 dollars per unit.
In terms of market capitalization, AVAX already exceeds 34,000 million dollars. For this reason, it ranks 10th in the market and is even in 8th place if we exclude stablecoins from the equation.
Dash remains among the most appreciated on the market
Just like last week, Dash stayed on the winning trail. On this occasion, she rose more than 23%, which gives her a place among the most appreciated of the top.
Dash closed the week with a price of more than 115 dollars per unit. At that level, it priced above $100 for the first time since the first week of February, though it still remains below its opening market value for the year.
Now, at the time of writing, in DASH there are a total of capitalization market of more than 2,300 million dollars. In the last 24 hours, more than 600 million were moved in Dash trading on exchanges.
Waves, fourth week in a row at the top
The growth of Waves during this year is one of the most notable among the main cryptocurrencies in the market. This week has not been the exception, after ranking for the fourth consecutive week among the most appreciated of the top.
In the last 7 days, Waves appreciated 22.31% to move to USD 32.56 per coin. So far this year, its rise is around 117%, something especially remarkable if we take into account that the majority of the market, with bitcoin included, is in the red compared to the beginning of this 2022.
With this behavior, Waves has come to the top 40 according to capitalization market. Right now, it ranks 37th in the market, with a capitalization of over 3,500 million.