The total value of the cryptocurrency market entered the new week with $ 1.6 trillion. In the market, which fell below the 2 trillion dollar threshold two weeks ago, the effects of the decline experienced at that time continue to be felt. The prices of most altcoins are far from broken record highs. In such an atmosphere, there will be some developments that it may not hurt to follow.
The decline experienced 2 weeks ago resulted in Bitcoin’s dominance in the market to rise again. According to BTC.D Index, Bitcoin’s market share, which was pulled up to 40% on May 19, rose to over 48% last week, and is measured at about 44% on the last day of the month.
While it is not possible to predict which direction the market will move in the coming days, some news from Ripple, Cardano, Stellar, PancakeSwap, PAID Network and COTI this week may be worth following.
Opening price of the week: $0.90
This week’s news: Attorneys for Brad Garlinghouse and Chris Larsen are expected to respond to the SEC attorneys’ appeal on June 4.
Why you should consider it: The SEC has sued not only Ripple but also the company’s founder Larsen and CEO Garlinghouse for selling unregistered securities. Garlinghouse and Larsen have applied for the dismissal of the lawsuit filed against them. The SEC made a request in early May to challenge this application with a 60-page document, Ripple opposed it, and the judge ruled in favor of the SEC. Garlinghouse and Larsen’s attorneys are expected to respond to the appeal this week.
Opening price of the week: $1.56
This week’s news: Cardano will organize a webinar on June 3, starting at 19:00 Turkish time and ending at 21:30.
Why you should consider it: The IOHK Foundation unveiled a new product suite last week called Marlowe. Designed separately for developers, end-users, and businesses, Marlowe was developed to “make it easier for peer-to-peer negotiation on the blockchain.” Thursday’s webinar will be the first webinar for Marlowe and will talk about developments in the decentralized finance (DeFi) ecosystem throughout the event and what role Marlowe can play in this ecosystem.
Opening price of the week: $0.375
This week’s news: Stellar will hold a vote to switch to Protocol 17 on June 1 at 6:00 PM CEST.
Why you should consider it: Protocol 17; It will bring a feature called “asset clawback” to Stellar, which can be especially useful for organizations such as money market funds. These organizations will be able to withdraw assets such as tokenized shares in case of legal obligation or fraud.
Opening price of the week: $15.28
This week’s news: PancakeSwap will be adding transaction fees collected last week to today’s token burn.
Why you should consider it: PancakeSwap held an IFO for Kalmar on May 27, with more than 160,000 individual wallets participating. People can stake CAKE and BNB before IFO and use their liquidity pool (LP) tokens during IFO. After the IFO is over, PancakeSwap splits the paid CAKE-BNB LP tokens into parts, uses BNB to buy CAKEs from the market, and adds the CAKEs it receives to the amount of tokens it will burn weekly. The same transaction is expected to happen today.
PAID Network (PAID)
Opening price of the week: $0.716
This week’s news: Cryption Network will launch its first decentralized exchange offering (IDO) on the Ignition platform on June 8.
Why you should consider it: IDO will be held next week, but the registration process (whitelist) to join IDO started on 29 May and will continue until 1 June. Investors whose addresses are drawn in this week’s draw will be able to buy CNT at a certain price next week.
Opening price of the week: $0.211
This week’s news: With the June 1 update, a new node called NightShade will be added to COTI’s mainnet.
Why you should consider it: Night Shade has been running on COTI’s testnet since 2018. With the addition of NightShade to the mainnet, the total number of nodes in the network will increase to 20. The total staking volume will increase to 129 million COTI with this node with a capacity of 8 million COTI.