Crypto newsletter: Crypto market slowly recovers

• Major crypto currencies recover some of the recent losses

• Ethereum network fees skyrocketed after the launch of UNI
• Ripple joins Bill & Melinda Gates Foundation as sponsor member

 

Cryptocurrency market is  slowly recovering after the recent drop in the beginning of the month. Major cryptocurrencies stabilized and regained some ground. Bitcoin's market dominance rose slightly to 57.2%. The capitalization of all digital assets in circulation rose to 356 billion, while an average daily trading volume is registered at $92 billion.

 

 Uniswap has launched its UNI token on Ethereum network

Another giant on Ethereum ‘s DeFi sector has introduced a governance model to engage its users. Uniswap, a decentralized trading platform, announced the launch of its governance token UNI on 17 September. 1 billion ERC-20 tokens will be released over the next four years, with the platform currently giving away 400 UNI to all platform users prior to 1 September. The activity of users in the protocol, with the aim of claiming their tokens, had a direct impact on the sharp increase of transaction fees in the Ethereum network.

Ethereum fees hit another record high. Source: Arcane Research

Ethereum was able to break above an important resistance level of $360.00. However, further increases were halted by 50 MA (green line). Should buyers manage to break higher then next resistance at $442.00 may come into play. Source: xStation5

Ripple will continue to expand the partnership with the Bill & Melinda Gates Foundation

The Mojaloop Foundation announced that Ripple have joined as sponsor member, which is the highest level of the organization. With this, Ripple continues to expand its partnership with the Bill & Melinda Gates Foundation and is now on the board with Google, ModusBox, Omidyar Network, Coil and The Rockefeller Foundation. Ripple will help provide “the strategic vision, corporate governance and technical guidance to ensure the long-term health and growth of the Mojaloop open source software and development community,” the press release said.

Ripple price bounced off the $0.2290 level this week and rally. Currently price is testing major resistance level at $0.2500. Should bulls manage to uphold momentum an upward impulse towards 0.2681 could be launched. Source:xStation5

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