Crypto Weekly | Booming in the market
Written by Oteme Eghele
Hi guys and welcome to another week on Crypto Weekly, a weekly writeup that enlightens our users about the crypto sphere and how the market structure performed the previous week.
Crypto Weekly talks about BTC, ETH, and EOS coins respectively, and also new DApps or recent news that took place surrounding these cryptocurrencies.
Starting the news today is BTC and if you are joining us for the first time, pls check our previous articles about previous market structures and also previous news that took place.
After weeks of trying to climb the 10k mark, BTC once again sits around the 9500 marks.
Bitcoin is a decentralized cryptocurrency which offers individuals instant means to pay for goods and services worldwide 24/7
Since the halving of bitcoin, the price has experienced a slight bull run here and there while it tries to stay above the 9k mark and also gradually moving to the 10k mark.
BTC experienced a gradual and consistent movement in price this week climbing from its 8900 marks to a high of 9600, different opinions are pouring in with different views saying a bull run is just around the corner.
As usual, individuals are always advised to do their own research before investing in any digital or offline platform.
The news surrounding the Ethereum Blockchain is that 2.0 is coming and it promises to change the very concept of Ethereum to accommodate and bring about more adoption to the no.2 coin currently ranking according to Coinmarketapp
Ethereum experienced a high increase in its price moving from its initial price of $200 to a new high this week of $240.
With its steady and gradual increase, one can only wonder if we are yet to see the best price this coin can give.
While ETH coin climbed, other alt-coin followed and some experts in the Cryptocurrency market say this might just be the season of altcoins.
Several weeks back we saw Bitcoin climb up in price leaving altcoin behind but this week altcoin alongside BTC experienced increased in price bringing about the term altcoin season.
As usual, users are advised to do their own research before investing in any cryptocurrency.
Probably one of the most underrated coins in the crypto sphere, EOS still trades below the $3 mark, but this is likely to change as block.one made a public announcement to kick start voting for block producers
We are excited to begin voting today for Block Producers on the EOS Public Blockchain. 56 candidates with infrastructure across 21 countries will meet our initial voting criteria, and we will be voting for them on a rotational basis over the next 6 weeks.
Read about the original tweet here https://twitter.com/block_one_/status/1266258682079145985?s=19
Like most altcoin, EOS experienced a climb in its price as well, moving from its initial price of $2.4 to a high of $2.7 and while many don’t consider it the bull run, it’s still a good change and simply means transaction went through over the week.
What makes EOS the ideal blockchain to run DApps is simply the fast transaction time and also free transaction which runs on CPU, RAM, and NET.
Over the week, several platforms currently running on the ETH chain had to pause in-app purchase due to high cost in gas fee and others simply waited for the gas cost to drop a little before initiating any transaction, the EOS Blockchain hopes to solve this and while it is not 100% best, devs are steadily working to ensure they meet this requirement.
New to DApp? Then check the TokenPocket Discover menu for the latest DApps.
Until next week, stay safe and mask-on.