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The Cryptocurrency Market is Recovering After the Drop Seen in the Last Few Days

The cryptocurrency market had a period of relative stability in the last few weeks, compared to the accelerated growth seen in December last year, when the total market capitalization went over 8000 billion US dollars.

Inside this apparent stability we can observe some changes. The main cryptocurrencies had mild oscillations of their prices, regardless of good or bad news news that could affect their value. For example, a general drop on the market occurred on February 21st, when 98 out of the first 100 cryptocurrencies on the market according to the market capitalization lost some of their value.

The price of bitcoin went up by more than 1,000 dollars, jumping from 9,500 dollars per coin to the current price of around 10,700 dollars. Initially, its price jumped to 10,400 dollars, then dropped to 10,200 and finally reached its current value.

An important event related to Bitcoin is the update of the Bitcoin Core node. The update was published yesterday and integrates the SegWit Bech32 address protocol. This integration was requested by many users on the network.

Ethereum, Monero and Litecoin rose between 5% and 8%. This mild growth is seen in the majority of the altcoins, whose rise was not more than 10%. Despite this fact, some cryptocurrencies rose even more, among which we can point out Cryptonex, whose price went up 50% and Golem, with the rise of 22%.

Both currencies had important announcements regarding their networks and, even though these announcements do not influence the price directly, they could attract new investors. Moreover, the aforementioned cryptocurrencies are among the most favored ones on the market at the moment and many people could have acquired these cryptocurrencies hoping their prices will grow even more.

Cryptonex is a blockchain network that serves as an intermediary for the exchanges between different cryptocurrencies and between cryptocurrencies and fiduciary money as well. The platform announced that its team started designing a hardware wallet.  More details about the wallet and how to purchase it should be disclosed soon.

It is worth mentioned that the price of Cryptonex was stable until the announcement, after which its price went up sharply.

On the other hand, Golem informed the public about the participation of its founder and CEO, Julian Zawistowski, in different events around the world. The Golem platform serves as a way to promote different blockchain projects and improve the adoption of the cryptocurrencies.

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