This has been a great week for cryptocurrencies
It has been a 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 over the past week, including several gains of more than 20% 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 a week reached more than 50% at the close of the day this Sunday, March 20
Then, we find AAVE, with an increase in its market value of more than 30% in the same period; while Avalanche (AVAX) rose almost 25% between Monday and Sunday.
The other 2 cryptocurrencies in the top that close the newsletter on Monday, March 21, also increased more than 20% in the last 7 days: DASH, with just over 23% up; and WAVES, with 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.
The long-awaited “merger” 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). Given this, Ethereum Classic 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. This follows from a report published on the Ethereum Classic website, after a call between the developers.
Although ETH rose considerably during the week, ETC did so even more: 50.51% rise in which its price ended up closing at $38.17 per coin. One that, it should be noted, he had not touched at all 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.
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