Latest cryptocurrency news: Centric, Bitcoin and Ethereum

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Cryptocurrencies are known for their volatility, and this November continues to prove it. Digital currencies have constantly delivered the highest returns in 2021. Just this past week, crypto prices soared at the news of the highest US inflation in over 30 years. Just a few hours later, prices were mostly trading lower.

At the same time, the US Working Group on Financial Markets proposed to the Biden Administration new regulatory legislation for stablecoins, ensuring they follow the same regulations as banks.

The last quarter of 2021 has proven exciting as far as cryptocurrencies are concerned. Let’s look and see what Bitcoin, Ethereum, and Centric have been doing so far this year.

Bitcoin’s major moves

Other coins continue to follow the trends of the largest cryptocurrency, Bitcoin. However, the first and most popular crypto is known for its volatility, with huge fluctuations. This past week, Bitcoin once again surged in value, surpassing the $68,000 mark.

Last month, Bitcoin became the first cryptocurrency to make its entrance on the New York Stock Exchange. The first investment product linked to crypto assets is known as BITO and the fund is a Bitcoin-linked ETF. Holders don’t hold Bitcoin, but a contract with Bitcoin futures.


In another move from Bitcoin that was expected to impact the cryptocurrency’s price was the recent release of the Bitcoin Taproot Upgrade. This is its most significant upgrade in several years aimed at improving the efficiency and privacy of the blockchain network.

However, the upgrade failed to produce another price increase, possibly because investors entered their positions earlier.

Ethereum’s consistent growth

The second-largest cryptocurrency by cap market is Ether (ETH) belonging to the Ethereum open-source blockchain. Since its creation in 2013, Ether’s value has beaten Bitcoin’s 127% rise in 2021, trading at an all-time high of $4,866 on November 10th. Several new features to the cryptocurrency are helping it outperform others as the platform continues to innovate.

Ethereum’s blockchain makes it completely different because it can host other digital currencies and decentralized applications. “Dapps,” as these decentralized applications are known, are open-source programs not attached to any company, and are developed by communities of coders. A consensus mechanism from the community is needed to make any changes to the software.

“Smart contracts” are another application of the Ethereum blockchain. These allow all parts of an agreement to be automatically executed as the conditions are met. In 2020, Ethereum adopted decentralized finance (DeFi), making it easier to invest, borrow, lend, or trade. The launch of the ethereum2.0 upgrade contributes to fewer transaction fees and the elimination of the energy required for mining.

Added to this, Ethereum launched its futures early this year. Demand and declining Ether reserves are expected to continue pushing its price up.

Centric aimed at stability

The extreme volatility of cryptos is one of their biggest drawbacks. Built on sound economics, Centric is the blockchain-based dual token currency that regulates supply to correspond with demand. Centric is the breakthrough digital currency created to offer stability, trust, and reliability as it is untethered to existing assets.

Centric Rise (CNR) is a transactional currency, and its price rises steadily as published a year in advance by the Centric Foundation. Utility and adoption of the stablecoins is ensured through partnerships, third-party services, and dApps. Centric’s CNS (Centric Swap) is traded on exchanges, and the aim is to stabilize it at $1, this is ensured by the hourly burn.

After trading at a low of $0.000104 toward the end of Q3 2021, CNS jumped 1,130% to a daily high of $0.0017659 in mid-October, with its 24-hour trading volume spiking to $6.4 million, a rise of 130%.

Several reasons contributed to the CNS price rise, these include several partnerships, investment by Binance Smart Chain, and announcements of new developments.

Exposure for Centric increased when they made the move from the Tron Network to Binance Smart Chain. Centric Swap is now part of Binance’s ecosystem and the $1 billion investment to develop DeFi.

Recent announcements by Centric COO Thomas Butcher include a collaboration with the high-end luxury items creator, Goldgenie. This collaboration is just one of the exciting developments at Centric. Others include partnerships with CroxSwap, the decentralized cross-chain bridge, and Tourvest Travel Services, allowing travelers the payment option of covering expenses by using CNS. Recently, Absolute World’s integration with Centric across all its sub-brands was announced. The clientele of the Asian company, founded in 1998, can now make payments in CNR and CNS.

As Centric is busy developing its merchant payment solution, CENPAY, it continues to offer retailers the ability to accept payments in CNS through CoinPayments. This has been a breakthrough for business owners on platforms like Magento, Shopify, and others.

Conclusion

Cryptocurrencies hovering around their all-time highs is something everyone grew used to in 2021. However, as the market becomes more competitive, it is interesting to see how DeFi applications and collaborations will impact digital currency prices and strategies.

Story by Elizma Burger