According to criptonoticias, from April 4 to 11, 2021, the cryptocurrency market remains on the rise, after the recovery it experienced the previous week. More than 80% of altcoins have risen in price.
The most appreciated cryptocurrencies in these seven days are led by Ripple’s XRP, whose price rises after the company that issues the asset scored some victories in the legal process it faces against the SEC in the United States.
They are followed by Grin (GRIN), who this April 11 closes a meme contest in which his community participated; and Ethereum Classic (ETC), with substantial growth from its investment fund in Grayscale.
The weekly top is completed with IOTA, which announces the release date of its version 2.0; and Tezos (XTZ), whose companies will be incubated in blockchain venture fund Draper Gorem Holm.
Testing Breakup
Bitcoin’s price continues to rise and has remained in ranges close to USD 60,000 since this April 10. On average, BTC appreciated by 2.7% in these seven days, oscillating between 55,000 and more than 61,000 dollars.
In this regard, Coin Metrics analyzed, in its weekly report on Bitcoin On-Chain indicators, data that show different metrics of the network. Among them is the Market Value to Cash Value (MVRV) ratio and the profit on the sale of BTCs, called Spent Output Profit Ratio (SOPR).
Such metrics support the hypothesis that the pioneering cryptocurrency’s bull cycle is not over.
Next Phase
Ether (ETH), for its part, also shows progress, appreciating 3% during the week. The price moved between $ 1,956 and $ 2,195 in seven days. In this period, co-founder of the network, Vitalik Buterin, proposed to reduce the number of validators in Ethereum 2.0.
The suggestion of the developer is to establish a limit of active nodes that allow to take advantage of their capacities efficiently. That limit could be about 524,000 nodes, or a similar number, the developer recently shared.
Other relevant cryptocurrencies on the market show ups and downs. Cardano (ADA) rises 5%; Litecoin grows by 24%; and Ripple’s XRP appreciates more than 100% to hit the weekly top. This while Polkadot (DOT) loses 8% of its value.
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