Waves grow almost 25% by offering staking of anchored cryptocurrencies.USD Coin is launched on the Stellar network and the cryptocurrency rises by 6%.
The cryptocurrency market is mostly in decline. More than 80% of altcoins saw substantial declines, while the few that rose in price advanced to nearly 25%.The most notable cryptocurrencies of the week are led by Waves (WAVES), which is now offering stablecoin staking; and Stellar (XLM) to whose network the stablecoin USD Coin (USDC) is incorporated.
The price of Bitcoin, for its part, continues to rise. These past seven days, the price grew up by 0.4%. The cryptocurrency manages to overcome the barrier of $ 10,000 to stay above $ 11,000 throughout the past weekend. On Bitcoin prices and volatility, Kraken’s research unit published a market analysis on October 14. There he notes that BTC will see higher volatility and returns in October.
Ether (ETH), by contrast, shows a slight decline. The price ranged between USD 366 and USD 393, and its average decline is 1.4%. Despite this, the cryptocurrency has been registering a growth of more than 50% in the last 3 months.
On this, eToro presented an analysis this week. The company maintains a bullish sentiment on the price of ETH due to the boom in decentralized finance. He assures that “DeFi is here to stay” and that the price of Ether will tend to increase.
Waves Exchange enables stablecoin staking
A week ago, the cryptocurrency exchange Waves.exchange introduced a new mechanism for cryptocurrency traders to earn passive income through staking (saving) anchored cryptocurrencies or stablecoins.
In doing so, the exchange expands its ecosystem of tokenized assets to include seven different stablecoins from Neutrino, a multi-asset protocol powered by Waves. The announcement was made amid the growth in the price of WAVES, which saw an average advance of 24.4%.
Additionally, on October 14, it was reported on the integration of the Solana blockchain protocol in Waves’ decentralized cross-chain network, Gravity. According to the Waves blog post, the idea is to achieve massive cross-chain DeFi adoption through Gravity.
As explained in the note, during the initial phase, Gravity will integrate Solana as a destination chain, “which will allow its blockchain to work in conjunction with other chains integrated to Waves.”
Meanwhile, the value of the cryptocurrency began to rise substantially from October 14, reaching a peak of $ 3 on October 16. WAVES ‘market capitalization is USD 316 million and its daily trade volume is USD 148 million.
Stellar becomes the third official blockchain for USD Coin
USD Coin (USDC), stablecoin or cryptocurrency attached to the US dollar created by Circle, is integrated into Stellar’s open source protocol. Twitter has announced this since October 15, as the price of the network’s native cryptocurrency, XLM, began to rebound, to achieve a very notable advance of almost 6% in seven days.
With this integration, Stellar has currently become the third blockchain for the issuance of the stablecoin, in addition to Algorand and Ethereum. “We are positioned to offer USDC and Stellar users a new level of opportunity,” said Denelle Dixon, CEO of the Stellar Development Foundation, speaking about the partnership.
The information adds that by having a new blockchain, USDC is expected to reduce its reliance on the Ethereum network, which has provided support for the native ERC-20 currency since its inception.
By: Jenson Nuñez.