The cryptocurrency market is preparing for a new week. In this article, we will cover the developments that will take place in altcoin projects on the first day of the new week tomorrow. Here are the details…
There are important developments for 10 altcoins tomorrow
- Azbit (AZ) will launch its weekly AZ coin burn tomorrow.
- MEXC Global lists Mars Token (MRST) in USDT pair at 11 pm tomorrow.
- ELLERIUM (ELM) will start its fourth auction process tomorrow.
- Kommunitas (KOM) will hold its ABEL Finance IKO tomorrow at 12 pm.
- NEO (NEO) will update NEO-CLI V3.5.0 tomorrow.
- 1inch Network (1INCH) has announced the Fusion update for DeFi trading.
- Klaytn (KLAY) announced the transition to a permissionless validator structure.
- Produced by Frax Finance, one of the largest decentralized stablecoins, FRAX appears to be returning to BNB Chain, a mainstream EVM-compatible Blockchain. New liquidity solution Thena has announced THE rewards program for FRAX pool investors.
- Matt Hamilton, a former Ripple developer, has announced that smart contracts are coming to XRP Ledger.
- Shiba Inu (SHIB) founder Shytoshi Kusama has announced that the layer-2 solution, Shibarium, will soon hit the market.
Before entering the new week: What is the latest situation in the market?
With the end of the year fast approaching, the biggest cryptocurrency is just over $17,000. So, it remains on familiar ground. Aside from OKB, which has jumped over 5 percent since the last OKX proof-of-reserve announcement, most altcoins are also pretty sluggish on a daily scale. cryptocoin.com As we have also reported, Bitcoin dropped to $ 16,300 on December 20. Thus, it recorded a three-week low. It has since managed to rise as much as $500. In other words, the bulls have gained an upward momentum.
As for macroeconomic data, the US released GDP data on Thursday. PCE figures were released on Friday. Both were expected to bring some more volatility to the market. However, as the US stock market fell, BTC remained relatively flat, except for a brief price drop. The weekend kicked off with Bitcoin hovering near $17,000. However, the entity has not moved an inch since then.
As of now, it is also trading at $16,800 in low trading volumes. As expected, its dominance and market cap over altcoins has not changed either. Bitcoin’s dominance rate is around 40%, and its market cap is $325 billion. Most altcoins have also failed to produce any significant movement in the past two days. Ethereum had a battle with $1,200 earlier this week. Currently, it seems to be winning the fight as it is trading above $20 above this line.
