From January 17 to 23, 2022, the cryptocurrency market registered a resounding fall, after the drop in the price of bitcoin experienced on January 21. Close to 100% of cryptocurrencies lost value in this period, closing the week with balances in the red according to statistics from Live Coin Watch.
In this context of general decline, this top of CriptoNoticias takes into account the few cryptocurrencies whose value has rebounded in the last 24 hours.
The list is headed by shiba inu (SHIB), located among the few that began to rise in price this Sunday, January 23. This, after learning of its entry into the batch of crypto assets that are traded on Uphold.
follow him avalanche (AVAX), which has just integrated the DEX 1inch decentralized finance protocols into its network; Y cosmos (ATOM) which launched an ETP on the Swiss stock exchange.
The top closes with decentraland (MANA), in whose metaverse the Australian Tennis Open is also being played; Y dogecoin (DOGE), identified as one of the cryptocurrencies with the highest level of adoption in the United States.
The price of bitcoin (BTC) had a significant drop in these seven days, with an average loss of around 18%, after the fall experienced on Friday, January 21, which took its value below USD 40,000.
According to what was stated on the CoinGlass statistics site, the decline in BTC was linked to the fact that liquidations in exchanges, for January 21, exceeded USD 727 million.
As CriptoNoticias reported, the drop affected all altcoins. Now, the big question for investors and market analysts is whether or not BTC will continue to decline. According to professional trader Willy Woo’s analysis, bitcoin would be very close to reaching the bottom, to then bounce back and continue its upward trend.
Ether (ETH) also lost value this week, with an average drop of 27%. The Ethereum cryptocurrency went from trading at $3,362 on January 17, to a low of $2,329 on January 22.
A few days ago, a team of analysts at JP Morgan warned that the Ethereum blockchain lost 15% of its share of non-fungible token (NFT) trading. According to the report, the cause of the decrease would be related to high gas rates (network fees) and network congestion.
Other relevant cryptocurrencies by market capitalization as well Significant declines were recorded during the week. Cardano (ADA) fell 14%, while dogecoin (DOGE) lost 24%, and polkadot (DOT) fell 34%. For its part, avalanche (AVAX) saw a weekly drop of 31%, while litecoin (LTC) depreciated by 26%, and XRP by 22%.
Uphold Adds Support for Shiba Inu Transactions
US-based cryptocurrency trading platform Uphold this week added the Dogecoin-inspired memecoin to its trading listing: Shiba Inu (SHIB), which is now available for purchase and sale operations.
The Uphold team made it known the news on January 21 through his Twitter account. There he confirmed the rumors that had been running for a few days about the inclusion of SHIB on the platform.
Between the reasons to support SHIB is found the value it has achieved within its community, as explained by Uphold’s message, where they assure that “they are convinced that memes do have value.”
In their tweet, the team clarifies that SHIB will only be available for commercial operations in some regions, depending on the regulatory frameworks applicable to cryptocurrencies in each country.
After these announcements, the price of the cryptocurrency began to rise, although it later fell along with the rest of the market. Still, it’s among the few that began to pick up quickly this January 22.
SHIB increased about 13% in the last 24 hours after reaching a peak of $0.0000237 earlier in the day. The market cap is $13.36 billion and the daily trading volume is $2.535 million.
1inch DeFi protocols expand to the Avalanche network
From this January 20 several protocols of the DEX 1inch Network are also available on the Avalanche blockchain.
With this integration, Avalanche joins other blockchains that have already added the protocol of this decentralized exchange, among which Ethereum and Binance Smart Chain stand out.
According to 1inch post, the protocols being added to Avalanche are: 1inch Limit Order Protocol, Aave, Baguette, Canary Exchange, Pangolin, SushiSwap and Trader Joe. They also report that the 1inch Limit Order Protocol was added to the Gnosis Chain platform.
The note explains that with the integration of this series of protocols expand the capabilities of these platforms within the decentralized finance space (DeFi).
“1inch’s goal is to provide the best deals in the blockchain space and give users options for fast and cheap transactions,” said Sergej Kunz, co-founder of 1inch Network, in the writing released on January 21.
Meanwhile, AVAX, a native token of the Avalanche network, grew more than 12% in a day. The cryptocurrency was also affected by the market crash, and although it saw a surge following the 1inch announcement, its value saw a substantial decline between January 21 and 22.
The price of AVAX was another one of the few that began to pick up shortly after the general slump, reaching a peak of USD 67.12 this Sunday, January 23. The market cap is $15.678 million and the daily trading volume is $797 million.
ETP Tracking the Cosmos Blockchain Debuts on the Swiss Stock Exchange
Cosmos, with its ATOM cryptocurrency, is another of the projects with slight growth this Sunday, January 23. The rise appears to be related to the decision of the company 21Shares AG from launch an ETP (exchange-traded product) that tracks the Cosmos blockchain.
The announcement was made on January 20. According to the 21Shares publication, the new product, identified as 21Shares Cosmos ETP (ATOM), listed on the Swiss stock exchange SIX Swiss Exchange in Swiss francs, euros and US dollars with a total expense ratio (TER) of 2.5%.
The note highlights Cosmos as a platform “that can power everything from DeFi to the metaverse.” The project, which calls itself “the Internet of blockchains”, was created in 2016 and seeks to facilitate the development of an interconnected decentralized economy.
As reported by CriptoNoticias, the blockchain is preparing for an upcoming network update that, under the name of Theta, It is scheduled for next March 31. With it they plan to expand the number of Cosmos applications that can be connected with Ethereum.
ATOM price made a 24-hour high of $34.16. cryptocurrency was revalued by more than 11% in a day. The market cap is $7,753 million and the daily trading volume is $1,505 million.
Australian Open is played in the Decentraland metaverse
The Australian Open (AO), one of the most important annual tennis tournaments in the world, began its 2022 edition on January 17, entered the space of metaverses and non-fungible tokens (NFTs) through Decentraland.
As CriptoNoticias reported earlier this month, the competition announced a partnership with Decentraland and promised to present a virtual version in 3D, which was launched with the opening of the event and will be active until it closes on January 30.
During these days, the participants of the AOmetaverse they have the ability to interact with other fans, play tennis mini-games and watch real-time replays of matches. This, in addition to walking around the city of Melbourne to see its buildings in 3D with superimposed historical anecdotes, among other activities.
Those interested in participating in the AO metaverse can enter by following the link and instructions given in the feed official Twitter of the competition, or on the official Discord channel.
In this context, the price of MANA, the native token of Decentraland, recorded a rise of more than 7% in the last day. It reached a high of $2.15 this Sunday, with a bias to the downside in the last few hours.
The market capitalization of MANA is USD 4.49 billion and the daily trading volume is USD 400 million.
Dogecoin: the favorite of the United States… and of Elon Musk
According to the most recent survey conducted by the Australian firm Finder, The United States is the country with the highest percentage of Dogecoin followers.
The study, whose data correspond to the consultation made in December 2021, had 93,528 responses from users in 27 countries. With them, the levels of adoption and the preferred cryptocurrencies in representative nations of the five continents were determined.
Finder statistics indicate that the US has the highest adoption of DOGE of all the countries surveyed, with 31.6% of cryptocurrency owners.
In that sense, it is worth remembering that the cryptocurrency, which is also Elon Musk’s favorite, was at the top of CriptoNoticias last week, after the billionaire owner of Tesla confirmed that the electric car manufacturer accepts DOGE for the purchase of accessories.
Although DOGE registers red balances in its weekly average, in the last hours it has a growth that estimated at just over 7%. At press time, the market capitalization is $18.093 million and the daily trading volume is $991 million.