On June 22, the decline in the main cryptocurrency triggered a collapse in altcoin quotes. After that, digital coins returned to growth.
On June 22, the quotes of the cryptocurrency market collapsed as a result of the fall in the bitcoin rate to $ 28.8 thousand.
The price of the main cryptocurrency did not fall below $ 30 thousand since January of this year.
This led to the fact that Ethereum fell to $ 1.73 thousand, and the Binance Coin rate fell to $ 229. After the collapse, the quotes began to recover.
Bitcoin
Bitcoin is up 26% over the week, the main cryptocurrency reached $ 36.3 thousand, and its capitalization increased to $ 681 billion, according to CoinGecko. The coin managed to achieve this growth thanks to several positive news.
For example, on June 29, it became known that the world’s largest inter-dealer broker TP ICAP will launch a cryptocurrency trading platform, together with the divisions of Fidelity Investment and Standard Chartered.
The launch of the site is scheduled for the second half of this year. Initially, only Bitcoin will be presented on it, later it is planned to add Ethereum.
Ark Invest, founded by Katie Wood, has submitted an application to the US Securities and Exchange Commission (SEC) to create a Bitcoin ETF. The investment goal of an exchange-traded fund (ETF) is to track the bitcoin market.
Ethereum
Over the past seven days, Ethereum quotes have risen by 28%. On June 29, altcoin is trading at $ 2.22 thousand, and its capitalization is $ 258 billion.
On June 24, the London update was added to the Ethereum test network – Ropsten. This was announced on Twitter by one of the developers of the altcoin Tim Beiko.
We have a block! Took a bit longer than expected, but London is live on Ropsten 😅https://t.co/wM2xepis0y
— Tim Beiko | timbeiko.eth 🦇🔊 (@TimBeiko) June 24, 2021
On June 30, the update is planned to be rolled out to the Goerli testnet. On July 7, the hard fork will be released on the third testnet – Rinkeby, after which the update will take place on the main Ethereum blockchain.
The London hard fork is an upgrade of Ethereum as part of the network’s transition to protocol 2.0. The solution will scale the original blockchain and make it more user-friendly.
The main feature of Ethereum 2.0 is the network’s transition to the Proof-of-Stake (PoS) consensus – it will replace the Proof-of-Work (PoW) consensus that blockchain is currently running on.
Ethereum is a cryptocurrency and platform for building blockchain-based decentralized applications using smart contract technology.
The Benefits and Risks of Smart Contracts
Binance Coin
Over the week, the Binance Coin rate has grown by 37%. On June 29, the cost of the internal token of the Binance crypto exchange is $ 314. The capitalization of the digital coin has grown to $ 48 billion.
Binance Coin grew despite the decision of the British regulator to ban the Binance crypto exchange in the UK.
The regulator claims that the service provider of Binance.com is Binance Markets Limited, part of the Binance Group, which is not licensed to operate in the UK.
Binance Coin is a Binance crypto exchange token that is used to pay trading fees, as well as exchange offerings (IEOs) on the Binance Launchpad.
Cardano
On June 22, Cardano dropped to $ 1. Since then, the digital coin, one of the five largest cryptocurrencies in terms of capitalization, has risen in price by 40%. Cardano capitalization exceeded $ 45 billion. On June 29, the cryptocurrency is trading at a price of $ 1.4.
Cardano is a blockchain platform created by Input Output Hong Kong (IOHK) and Charles Hoskinson, former co-founder of BitShares, Ethereum and Ethereum Classic.
The system is focused on launching smart contracts, decentralized applications, sidechains, and multiparty computing. The internal cryptocurrency of Cardano is called ADA.
Dogecoin
A week ago, Dogecoin dropped to $ 0.16 for the first time since mid-April. In seven days, the digital coin is up over 62%. On June 29, Dogecoin is trading at $ 0.26, and the altcoin capitalization is almost $ 35 billion.
On June 28, Tesla and SpaceX CEO Elon Musk supported the proposal to update the Dogecoin network. It states that the average transaction fee on the altcoin blockchain should be reduced by 100 times.
Dogecoin is a cryptocurrency that was created as a joke by two programmers in 2013.
