The cryptocurrency market began the new week on February 15th, with a slice retrace. But starting to recover quickly. Altcoin world will witness some developments during the week that could have an impact on their prices.
This week’s altcoin news that may interest followers of Dogecoin (DOGE), Cosmos (ATOM), Yam Finance (YAM), Hedera Hashgraph (HBAR) and Synthetix Network Token (SNX).
News: Cryptocurrency exchange WhiteBit will hold an AMA event for Dogecoin on February 17th at 19:00. The event will be attended by Doge developer Max Keller.
Why to follow: Dogecoin has not experienced major technical development since June 2019. The software team, led by Ross Nicoll, took action this week to address deficiencies in Dogecoin. Max Keller, who will attend the event, is one of the active developers of Doge. In addition, WhiteBit will distribute a total of 40,000 doges to those who attend the event and ask the best questions.
News: The Cosmos team will launch the Stargate update on February 18. Figment Networks analyst Gavin Birch describes it as the biggest update in Cosmos history.
Why to follow: it is believed that Stargate will increase the processing speed, allowing users to trade between different blockchains, and accelerate the development of the interface. The future Inter-Blockchain Communication (IBC) under Stargate will enable connection between Cosmos-based blockchains. Stargate is expected to improve its blockchain up to 100 times.
News: Yam Finance users switched from V2 to V3 at 03:00 a.m. on February 15.
Why to follow: Yam Finance switched to v2 due to a bug found in V1, and announced V3 in September 2020. The yam community voted for the final transition date from V2 to v3 to be February 15. Those who switched from Yam V1 to V2 to V3 received tokens in a ratio of 1:2.5. Yam v3 represents the correction of errors made in the first release.
Hedera Hashgraph (HBAR)
News: The Hedera team will conduct a testnet update on 18 February.
Why to follow: Hedera released its mainnet Version v0.11.0 on February 4. The developer team will be testing version v0.12.0 on February 18. The Testnet will remain closed for users during the testing, which is expected to last two hours. Getting a positive result from testnet may result in mainnet upgrade in the near future.
Synthetix Network Token (SNX)
News: The Synthetix community has proposed an update of sDEFI and iDEFI. The index update is expected to be completed this week on February 16 or 17.
Why to follow: The update to the sDEFI and iDEFI index is expected to bring Synthetix users closer to new DeFi projects. Synthetix announced a total of $12 million in investments from the Coinbase Ventures, Paradigm and iosg. These companies will also contribute in the growth of the Synthetix team and improvements in the network.