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The fall of the cryptocurrency market has transformed into a sideways, the capitalization of digital assets fluctuates within $ 1.3 trillion – 1.23 trillion over the course of a week. Speculators used the flat to buy altcoins that are promising from the point of view of future growth.
Among the major digital currencies of the top 30 rating, the most active transactions take place in Ethereum Classic, which updated weekly highs after yesterday’s rise in quotations by 10%.
Demand for ETC is formed in waves coinciding with corporate news from Ethereum developers. Vitalik Buterin’s network is testing the merger of ETH1 and ETH2 with the subsequent transition to a PoS algorithm.
Judging by the latest statements, this will happen in August, so as not to freeze the “complexity bomb”. Activation of this mechanism will begin to “squeeze” out of the network of small miners who will begin mass migration to Ethereum Classic, raising the hashrate of the blockchain and the etc rate.
Monero (XMR) quotes have entered a stable growing trend since May 13, thanks to positive expectations of the July hard fork, which strengthens the security of the network and the anonymity of transactions. The activation of the update on May 16 in the testnet was the reason for the first wave of purchases.
Yesterday’s growth was a reaction to the emergence of an additional commission. Launched next week, the Tail Emission mechanism will add 0.6 XMR of guaranteed rewards per block. This will allow miners to be less dependent on commission income and aim to complete the assembly of blocks more quickly.
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