Grin launches a challenge to find bugs in its version 5.0.0, and the price soars by 90%. Litecoin’s price gains more than 50% and is approaching the all-time high that it had reached in 2019.
The market has recently been on the rise as a result of the historical rise in the price of Bitcoin. More than 90% of cryptocurrencies have experienced a significant rise in their prices, with percentages exceeding 89%.
Grin (GRIN), which is launching a challenge as a test mechanism for its next update, and Litecoin (LTC), which is gaining momentum thanks to the current Bitcoin rally, top the list of the most appreciated cryptocurrencies in recent days.
Regarding Bitcoin, the pioneering cryptocurrency shines after having exceeded its all-time high of 2017 and trading above USD 23,000. The crypto asset grew by an average of 25% in recent days.
The growing signs of individual and institutional adoption are the context of the Bitcoin rally. In recent days, there have been new announcements from companies interested in the cryptocurrency. They include hedge fund manager One River Asset Management, which will have USD 1 billion worth BTC and ETH.
English fund manager Ruffer also confirmed the acquisition of USD 744 million worth of Bitcoin, which represents 2.5% of its portfolio. The investment is a hedge against inflation and coincided with a reduction in the fund’s exposure to gold.
On the other hand, Ether (ETH) rose and recorded an average growth rate of 18.4%.
The amount of Ether in the Ethereum 2.0 staking exceeds 1,500,000 ETH, which is trading at more than USD 1 billion. The increase in stake deposits allows the price of the cryptocurrency to continue to rise. In recent days, its value ranged between USD 565 and USD 672.
Other relevant cryptocurrencies on the market have also recorded an increase in their price. Litecoin (LTC) rose above 50% and ranks among the leaders, Ethereum Classic (ETC) gains 9.7%, and Ripple’s XRP increases by 15.8%.
Grin Launches a Challenge as a Pre-Test for its Next Fork
On the eve of the fourth update of the Grin network, which the community expects in early January 2021, Grin announced the “Winter 2020 Bug Bash Challenge”. The event is part of the preliminary tests of the new version v5.0.0, which the platform introduced some days ago.
Community members have their attention on the news about the fork which has favorably affected the price of the cryptocurrency, whose value rose by 86%.
Through this challenge, the plan of the Grin team is to test Grin’s nodes and wallet to find bugs. Participants will be paid for the tests that they run and the errors that they find. The top three participants will also receive special rewards. Meanwhile, the price of the cryptocurrency ranges from USD 0.3581 to a high of USD 0.6187.
The company will distribute 0.75 BTC and 2,500 GRIN (about USD 19,000 in total) among those who participate in the challenge. The tests will conclude on January 2nd, 2021.
Litecoin Reaches Highest Value So far in 2020
The price of Litecoin recorded significant growth, with a rebound exceeding 57%. Coincidentally, it broke its all-time high on the same day that Bitcoin broke its own. For that reason, some analysts see the rise of Litecoin as part of BTC’s momentum.
A trader identified as MoonOverlord said on his Twitter account that Bitcoin’s price rise above USD 20,000 revived interest in Litecoin and Dogecoin. He noted that, unlike the rally that happened in 2017, people are not disposing of altcoins. Furthermore, he highlights that at that time there were no pegged cryptocurrencies or stablecoins.
The price of LTC recently peaked at 118.47, its highest value in 2020. The price of Litecoin has not reached the same levels that it reached in 2017 but is approaching its value of June 2019, when it exceeded USD 130 per unit.
The Litecoin Foundation continues to promote the use of the Litecoin Visa card among its users. Registration to apply for the card reopened earlier this month for US residents only.
By Willmen Blanco
