The week is over and a lot has happened again! Cardano (ADA) finally launched smart contracts, MicroStrategy bought hundreds of millions of dollars in bitcoin (BTC) again and the Solana (SOL) network completely crashed. In this article you can read an overview of the most important news of this week.
Cardano (ADA) smart contracts are here, but the price is falling
Last Sunday the Alonzo update was launched. It means Cardano finally supports smart contracts. This opens the doors for many new functionalities on the blockchain network, such as decentralized applications, or dApps. Cardano wants to use this decentralized finance (DeFi) sector attracting and there are already non-fungible token (NFT) projects in development. The price actually reacted a bit as expected. Leading up to the update, the ADA rose to $3 before falling nearly 10% in value this week. a real buy the rumour, sell the news event So.
MicroStrategy is buying bitcoin (BTC)!
MicroStrategy has again bought a large amount of bitcoin (BTC) this week: 5,050 BTC worth $242.9 million to be exact. BTC was bought for an average price of $48,099, CEO Michael Saylor reported on Sept. 13. So MicroStrategy continues to buy.
Litecoin (LTC) is partnering with Walmart, isn’t it?!
For a moment we seemed to be taking off. The prices turned green and Litecoin (LTC) took the lead. Litecoin was the subject of what appeared to be big news. Walmart will soon be accepting the altcoin at all of its branches. However, this story took a bizarre turn.
A press release that looked credible caused even media outlets like Reuters, CNBC and the Litecoin Foundation to share the news themselves. Later it turned out to be fake news and the prices collapsed again. Read more about this bizarre story here.
Solana (SOL) network crashes
Solana (SOL) suddenly experienced major problems this week. The blockchain network was heavily overloaded and that caused the network to process as many as 400,000 transactions per second (TPS). In the end, the network went offline for 16 hours. Fortunately, the problems now seem to have been solved with another running Solana network and a saved SOL price.