News SegWit Implementation Triggers Recovery Across Major Cryptocurrency Markets

SegWit Implementation Triggers Recovery Across Major Cryptocurrency Markets

-

- Advertisment -SegWit Implementation Triggers Recovery Across Major Cryptocurrency Markets

 
Bitcoin price increased by more than 60% since the beginning of August, as it rose from around $2800 to $4300 earlier today, as most altcoins started recovering following a few weeks of instability. The overall market capital of bitcoin currently exceeds $71 billion. The high volatility witnessed across the bitcoin market during the past few weeks was ignited by deployment of a new soft fork, the Segregated Witness “SegWit”, on bitcoin’s protocol in an attempt to mitigate the currency’s scalability problems.
Bitcoin was in desperate need for a solution to boost the throughput of confirmed transactions along the network. However, the implementation of SegWit, was not a smooth process, as it was rejected by a considerable portion of users, which led to splitting of bitcoin’s blockchain, giving birth to Bitcoin Cash, the first ever cryptocurrency to be created by hard forking bitcoin’s blockchain. The SegWit implementation, in addition to the recovery of most major altcoins, brought the total cryptocurrency market capitalization to more than $155 billion, according to data from Coinmarketcap.
Most major altcoin markets began recovering again during the past few days. The price of Ethereum ETH, Monero XMR, DASH, Lisk LSK, STEEM, Litecoin LTC, Zcash ZEC, MaidSafeCoin Maid and Ethereum Classic ETC surged during the trading sessions of the past couple of days. Ethereum ETH surpassed the $330 mark, for the first time since late June. Monero XMR surged from around 0.022 BTC to 0.031 BTC earlier today, recording a rise of more than 41%. On the other hand, DASH price rose from $311 to $365 a couple of hours ago, accounting for a rise of around 18% in less than 24 hours.
It seems that the new uptrend affecting the altcoin markets will continue on building up, pushing the price of most major cryptocurrencies to higher levels. Most probably, Ethereum ETH, Monero XMR, DASH and STEEM will be amongst the biggest gainers during the last quarter of 2017.
About Dr Tamer Sameeh
View all posts by Dr Tamer Sameeh

Source link

SegWit Implementation Triggers Recovery Across Major Cryptocurrency Markets
Bitnewsbot.comhttps://bitnewsbot.com
BitNewsBot.com aggregates the latest news around bitcoin, blockchain, cryptocoin, ICO's and FinTech, from all around the internet and publishes them in a single place.

Latest news

Reasons To Prefer Slot Games Even When You Are Losing

Oh what a wonderful world the slot machine industry is, full of technological evolution and the all-important...

Advice for Responsible Slot Gambling From an ex Addict

Thanks to a combination of improved gameplay and their availability on remote devices, the slots you can...

When You Should Stop Playing Bingo

Since its inception in the late 1800s, Bingo has enjoyed a remarkable rise to popularity, being a...

Why Bitcoin Will Succeed?

If Bitcoin will succeed or not is an interesting question. For the time being, Bitcoin holds a...
- Advertisement -SegWit Implementation Triggers Recovery Across Major Cryptocurrency MarketsSegWit Implementation Triggers Recovery Across Major Cryptocurrency Markets

Elon Musk Tweets That “Bitcoin” Is Not His Safe Word

By now, you probably know that Elon Musk appears to have knocked up his girlfriend, Grimes. And just when you...

Bitcoin Can Gain 100% In 2020 – Halving Not Priced In, Says Fundstrat

Authored by William Suberg via CoinTelegraph.com, Bitcoin can deliver 100% returns to investors in 2020 and may rise significantly in...

Must read

Reasons To Prefer Slot Games Even When You Are Losing

Oh what a wonderful world the slot...

Advice for Responsible Slot Gambling From an ex Addict

Thanks to a combination of improved gameplay...
- Advertisement -SegWit Implementation Triggers Recovery Across Major Cryptocurrency MarketsSegWit Implementation Triggers Recovery Across Major Cryptocurrency Markets

You might also likeRELATED
Recommended to you