Crypto market is extremely busy these days as we are having green days more consistently. Leading the Altcoin market is Ethereum, making new All-Time-High of $4168. The total value of the crypto market is above $2.5 trillion with the Bitcoin price rising over $58,000 again.
As the crypto market cap is increasing, On the other hand, Bitcoin Dominance is shrinking, standing at 43.8%.
In such a bullish crypto atmosphere where altcoins are gaining strength, 6 altcoin news that we think can be followed this week are Ethereum, Bitcoin Cash, DASH, Zilliqa, Swipe and SHIB, respectively.
Ethereum (ETH)
News This Week: Rayonism a scaling project around the ETH Global Scaling, Hackathon experimenting with Merge and Sharding Eth1-Eth2 testnets will be completed on May 14.
Why To Follow: Ethereum developers are showcasing their work to combine ETH 1 and ETH 2.0 under Rayonism. Organizations such as Arbitrum, Optimism, zkSync organized a hackathon, which started on April 16th. Participants will receive more than $200,000 in prizes. During hackathon, participants will develop merge functionality on top of participating Eth1 and Eth2 clients, develop sharding functionality on top of participating Eth2 clients, enable KZG in EVM on Eth1 and Stretch goal to Initial L2, Optimism-Eth2 prototype.
Find out more on: https://scaling.ethglobal.co
Bitcoin Cash (BCH)
News This Week: Bitcoin Cash network update on May 15th to bring improvements for users and merchants
Why To Follow: These updates include the removal of the unconfirmed transaction limit, enabling multiple OP_RETURNS, the implementation of double-spend proofs, and the inclusion of a new mining block default limit size of 8 MB, as the inclusion of CHIPs (Cash Improvement Proposals) to introduce new specification changes to the protocol. There will be a few changes in the update that will affect the user experience. The queue limit for unapproved transactions will be removed, people will no longer have to wait for a block to be mined for every 50 transactions and messages will be sent to BCH nodes. The maximum block size of 8MB will now be the default size.
Dash (DASH)
News This Week: DASH network block rewards will be reduced on May 16th. DASH reward reduce will be activated on height 1,471,680. Rewards will be reduced from 2.88 DASH to 2.67 DASH.
Why To Follow: The block reward given to Bitcoin miners decreases by 50% every 4 years. Using a similar mechanism, DASH will reduce block rewards not every 4 years, but approximately every 383 days. Dash will not reduce rewards by 50%, but by 1 in 14 (approximately 7.1%) of ongoing rewards.
Find out more on: https://dash.tokenview.com/en
Zilliqa (ZIL)
News This Week: Upcoming Staking Contract Upgrades to Enhance User Experience with New Functionalities on May 11.
Why To Follow: On May 11, Zilliqa will undergo a mainnet upgrade to v. 8.0.0. Following the upgrade, Zilliqa staking contract will transition to phase 1.1. changes will include:
- Transferring stakes from one account to another account, without penalty will be possible. This feature can open up new possibilities such as smart contract wallets supporting staking.
- Staking parameters will be adjusted following the block time reduction and reward adjustment in mainnet v. 8.0.This adjustment is to calibrate the staking rewards to around the same level as phase 1 staking.
- Functional fixes will address the contract state bloating issue.
- Interface changes for reward transition will ensure compatibility with Scilla v. 0.10.0.
Swipe (SXP)
News This Week: First IDO coming on Swipe on May 12th.
Why To Follow: According to Swipe’s announcement, the project coming on Swipe via IDO will be compatible with both Ethereum and Binance Smart Chains, The unnamed project aim to change NFT management and it’s running. IDO will be available only for SwipeSwap Liquidity Providers. 50% of the SXP raised will be burned.
The first fully on-chain #SwipeSwap #Ignition IWO / #IDO sale will be for a new project that is aiming to change #NFT management and it’s running exclusively on #BSC & #ETH
? Launch Info: May 12th
? Listing Date: TBA$SXP is the payment token? pic.twitter.com/EAkCNiHqLQ— Swipe (@SwipeWallet) May 5, 2021
Shiba Inu (SHIB)
News This Week: Crypto exchange Binance is listing SHIB today.
Why To Follow: The SHIB, which emerged as ‘Dogecoin killer’, was listed on exchanges such as Huobi and OKEx last week. SHIB was added to KuCoin today in the morning, will be added to Binance also. Binance will list SHIBA INU (SHIB) in the Innovation Zone and will open trading for SHIB/BUSD and SHIB/USDT trading pairs at 2021-05-10 11:00 AM (UTC).
Read More: https://www.binance.com/en/support/articles/f1fe616e688b452f9d736753cb2d947a
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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