From January 31 to February 6, 2022, the market remains with balances in the green, after the slight recovery that the price of bitcoin (BTC) experienced a few days ago. Close to 90% of altcoins recovered their value in this period, with gains exceeding 40%, according to statistics from CoinGecko.
The cryptocurrency top is headed by Decentraland (MANA), which is preparing to launch an incubation program for community curators next March.
It is followed by Zcash (ZEC) , whose community approved a proposal for private transactions in DeFi; and Tezos (XTZ) , which is supposed to be a sponsor of the Manchester United soccer team.
The list of most appreciated cryptocurrencies closes with The Sandbox (SAND), whose value increased after rumors that it would be acquired by Meta; and ethereum classic (ETC) , which will trigger its Mystique upgrade in a few days.
The price of bitcoin returned to the rise in these seven days, after the fall experienced during most of the first month of 2022. Its value oscillated in a range that is around USD 36,000 to USDS 41,000.
The average weekly gain of BTC is estimated at 8.8%. According to the latest report from the analytics firm Glassnode, the number of bitcoin addresses held by retail investors (those with less than 1 BTC) does not seem affected by the recent correction and has continued with sustained growth.
As reported in CriptoNoticias, the value of the pioneer cryptocurrency broke the USD 40,000 barrier again after falling to lows of USD 33,000. This week's price bounce was predicted by analyst Willy Woo, who saw the dip only as a sign of market re-accumulation.
Ether (ETH) also gained in value this week, averaging 15% higher. The Ethereum cryptocurrency traded between $2,505 and just over $3,053 in seven days.
Although the network continues to be affected by high gas fees, some exchanges are turning to scaling solutions such as Arbitrum rollups . With them, several Ethereum transactions are "wrapped" by executing them outside the main blockchain. That way you don't have to pay the high fees.
Other relevant cryptocurrencies by market cap are also making gains this week.
Cardano (ADA) and Avalanche (AVAX) are up 5%, while Dogecoin (DOGE) is up 2% and Polkadot (DOT) is up 12%. For its part, litecoin (LTC) sees an average rise of 10%, and XRP of 8%.
Decentraland will launch an incubation program in March
The Decentraland metaverse is located for the third consecutive week at the top of CriptoNoticias, especially since a parallel version of the Australian Open was developed in its spaces, one of the most important tennis competitions in the world that concluded on January 31. All this while the Decentraland team announced its roadmap for 2022 on Twitter.
In the publication, identified as "Manifesto 2022", the improvements that they plan to implement during the year and on which they have been working since 2021 are explained. They cite among them an incubation program to incorporate more curators from the community, whose first edition will start in March 2022.
The developments also include a new desktop client for Windows, Linux and Mac in order to expand the ways of accessing the platform.
Added to this are improvements in social networks and voice chat, mechanisms for handling NFTs as portable devices, and the creation of a mobile application prototype. The improvements will include a new SDK or development kit with more tools to build within the virtual world.
After these announcements, MANA registered a significant increase throughout these seven days, in a constant advance that has been observed since January 31. The cryptocurrency surged around 42% in seven days, after reaching a peak of $3.38 on February 6.
The market capitalization is USD 5,107 million and the daily trading volume is USD 1,083 million.
Zcash community bets on private transactions in DeFi
ZOMG, the community grant committee that funds Zcash-related projects, has approved a proposal that will allow user-defined assets to be traded on Zcash.
The system, also known as Zcash protected assets or ZSA, will allow the transfer of multiple types of assets in a single transaction. The goal is for the user to be able to maintain the privacy of their operations on the DeFi platform of the blockchain.
The proposal was approved for a total of USD 1,187,615 . As the team explains in its publication, it would be the largest grant approved within the Zcash ecosystem. This is one of the first decisions made following the name change from ZOMG to Zcash Community Grants , also announced this week.
The name change responds to the interest of nominally representing the greater participation that the community is expected to have in the ecosystem. Formerly known as the Major Grants Review Committee, ZOMG is a technology advisory board that sits on the Zcash Foundation committee.
Meanwhile, ZEC, the network's cryptocurrency, has seen a steady advance since the end of January. It reached its maximum weekly value on February 6 when trading at USD 125.7.
Weekly growth is estimated at more than 30%. At the time of writing, the market capitalization is $1,517 million and the daily trading volume is $241 million.
Tezos would be the new sponsor of the Manchester United soccer team
The popular English soccer team Manchester United will reportedly be sponsored by the Tezos platform. According to information published by The Athletic newspaper, the blockchain will pay USD 27 million a year for its brand to be exposed by the sports club.
The information has not been confirmed by the Club, but it is said that the team has already released promotional materials in the training center . The agreement would have been reached after the expiration of the previous sponsorship contract with the American insurance company Aon, which ended at the end of last season (2021).
With millions of fans around the world, this is one of the most popular clubs in Europe, attracting even more attention after signing Cristiano Ronaldo as a striker earlier this season.
The rumors led to a surge in the price of Tezos' native cryptocurrency, XTZ, which saw an average rise of more than 25%. It peaked at $4 on Saturday, February 5. The market cap is $3,403 million and the daily trading volume is $124 million.
Meta would be interested in acquiring The Sandbox metaverse
Rumors that the company Meta, formerly Facebook, would be interested in acquiring The Sandbox metaverse flooded social media this week and will increase interest in MANA, the network's cryptocurrency.
The possibility that Meta advances with its metaverse project through The Sandbox was commented on social networks. One of them was NFT Ethics, who said in a tweet that the plan is for a large company like Meta to acquire several such projects. Other media points out that there are already a handful of Fortune 500 companies that are investing in metaverses , Web3 and the gaming ecosystem.
Added to the above information is the fact that, supported by The SandBox, the Carrefour supermarket consortium made its arrival in the metaverses official this week, announcing its new plot in the virtual universe. As CriptoNoticias reported, Carrefour acquired parcel 33,147 in this play-to-earn style game based on the metaverse, where participants can exchange cryptocurrencies and buy non-fungible tokens (NFT).
From all these announcements, SAND grew more than 17% in seven days. The market cap is $4.235 million and the daily trading volume is $1.125 million.
Ethereum Classic launches its Mystique update
The activation of the next update of Ethereum Classic, called Mystique , is scheduled for next February 13. According to the blockchain team in a blog post, the non-contentious hard fork will occur at block height 14,525,000 .
The note explains that Mystique is a hard fork that brings to Ethereum Classic a subset of the EIPs (Improvement Proposals) that were part of the London hard fork activated on Ethereum in August of last year.
They add that major pools, exchanges, wallets, and other network services are preparing for the hard fork . They point out that, to date, only 39.5% of the nodes have already updated to the new software. Therefore, the team invites all operators to update as soon as possible.
As part of this process, the price of ETC reached a peak of USD 30 on February 6. The cryptocurrency has appreciated by more than 16% in seven days. The market cap is $3.929 million and the daily trading volume is $283 million.