The cryptocurrency market fell sharply in the last week, after rising sharply in recent months.
The major currencies lost up to 50% of their value. Bitcoin first dropped from $19,000 to around $16,000. After this, on Thursday the 21st, it dropped to 11 thousand dollars, when the market was experiencing its fall.
The ether, on the other hand, also dropped to $554 after hovering around $800. Currently its appreciation in the market is $750. Litecoin also dropped to $196 after reaching a historic high of $374 on December 19.
ETHOS
Fifth on our list is Ethos, the new name of the Bitquence coin. This blockchain offers the cryptoactive market a greater number of people by creating a platform for buying, selling and social interaction in which you can exchange fiat money for cryptocurrencies, as well as between the different cryptoactives.
In the last week its value has increased 126%, from $1.37 per currency to $3 currently. It reached an all-time high on December 21, when its price was $3.29 and then dropped to $1.97 during the general correction of the cryptomarket.
This growth may be related to a video of a youtuber called Suppoman that had more than 31 thousand hits. This one talks about Coinbase's problems and how Ethos' platform would be the solution. Given Coinbase's recent downside, it is very likely that many investors bet on this currency.
Ethos price at the moment. Source: CoinMarketCap.
KOMODO
Komodo is a platform that seeks to offer solutions with block chains for industries and developers. In the last week it has increased 136% of its value, from $4.65 per coin to $11.58.
This increase was due to an alliance with Bitcoin Dark, in which the holders of the cryptoactive resulting from this bifurcation had to exchange them for the Komodo currency, thus increasing the flow of sales. BTCD also increased due to the fact that for a few moments it was less costly to obtain KMD through this change.
Price of Komodo currently. Source: CoinMarketCap.
BURST
Burst is a currency that serves as a means of payment but, unlike other cryptoactives that perform this same function, Burst's algorithm (Capacity Test) does not consume as much energy as PoW algorithms, making mining more environmentally friendly. This algorithm works by using free hard disk space on computers to process transactions.
Over the past week, it has steadily increased its value from 2 to 9 cents (a 265% increase) because John McAfee recommended it on his Twitter account. Over the past few days McAfee announced that it would recommend the best ecosystem projects and so far the currencies it has mentioned have seen large increases in value.
Burst's price at the moment. Source: CoinMarketCap.
REDDCOIN
Reddcoin is a currency conceived as a means of payment for social platforms. Through tipping system that can be included in any platform users can pay content creators easily.
Its increase had two correlated causes. First, an Initial Currency Offer (ICO) called Local World Forwarders, which seeks to create a decentralized logistics platform for merchandise shipment logistics, began to accept it in its collection. Because of this, large news portals, such as Forbes and Global Coin Report, wrote about the increase it had presented, further increasing the number of buyers.
During the last week its value increased 492%, from $0.001 to $0.012, although its historical peak was recorded on December 21 with a price per currency of $0.014.
Price of Reddcoin currently. Source: CoinMarketCap.
VERGE
The cryptoactive that increased its value the most was Verge, which appears in this list for the second consecutive time. This privacy-centric currency, which ranked 27th on CoinMarketCap's list, is currently ranked 17th as its market capitalization grew from $394 million to $2.8 billion, an increase of 637%.
The cause of this increase, as in the case of Reddcoin, is due to the large media coverage. During the week the currency was reported in Forbes, The Sun, Bloomberg and Chicago Tribune, which definitely attracted a lot of investors.
Price of Verge currently. Source: CoinMarketCap.
As we can see, the market is already recovering from the downturn that occurred on Friday of this week and that was due to the long awaited correction, after the accelerated increase that had been presented.
I really like Reddcoin. I'm hoping it can keep going up. I wonder how big it can get and still maintain the tipping function. I have seen 2000 reddcoin tips out there. If it gets to 10 cents, those people may regret those big tips. LOL
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