After a week of ups and downs, cryptocurrencies opened higher again on Friday (4). The prices of Bitcoin, Ether, Solana and other cryptocurrencies rose overnight as the broader market recovered.

At around 8:00 a.m., the price of bitcoin reached $37,940, up 4.1% in 24 hours. Despite the rally, BTC is still about 19% below its peak price set last October.

According to CoinGecko, the second largest cryptocurrency, Ether, has also risen again. ETH has emerged at an impressive 8.2% price of $2,839. This week alone, Ether has recovered 17.8% of its pre-decline value.

In addition, other cryptocurrencies also recorded higher balances. While the balance of Coincoin and Polkadot increased by about 4%, Solana increased by 9%. Caldano and XRP rose by about 3%.

Meme coin, Dogecoin and Shiba Inu rose 2% and 3%, respectively. Earthcoin and Avalanche coins rose 6% and 8%, respectively.

The global market cap has risen another 5.2% in the last 24 hours to $2 billion. According to CoinGecko, the transaction volume exceeded $80 million.

Cryptocurrency prices this Friday (4)

  • Bitcoin (BTC) – $37,937.97 (3.5%)
  • Ether (ETH) – $2,839.76 (8.5%)
  • BNB – $379.30 (5.0%)
  • Caldano (ADA) – $1.06 (3.7%)
  • Solana (SOL) – $105.43 (11.0%)
  • Ripple (XRP) $0.617407 (3.7%)
  • Boca (DOT) $19.36 (5.9%)
  • Land (LUNA) $50.91 (7.6%)

Boston Fed announces that digital dollars can absorb up to 1.7 million transactions per second

The creation of a digital currency backed by the U.S. government took a big step forward this week. The Federal Reserve Bank of Boston, in partnership with the Massachusetts Institute of Technology, coordinated a study on the technical feasibility of a digital dollar. The currency is now backed by the Federal Reserve, which is seeing good results in the CBDC.

According to the study, the implementation of digital dollars will be promising. The study covers two types of architecture to understand the implications of a dollar CBDC with enough code to process 1.7 million transactions per second. That number would be 2.5 times the number of Visa transactions, according to a white paper released Thursday.

In addition, the vast majority of these transactions are completed in less than two seconds. This is a tempting result for U.S. bank users, as many of today's transactions can take up to 24 hours.

Performance is also better than the world's most popular cryptocurrencies, such as Bitcoin. According to the report, the blockchain can only process 7 transactions per second, and in the case of BTC, only 25 transactions per second.

While developers are working on ways to increase the throughput of these blockchains, decentralized networks like Bitcoin are unlikely to compete with the centralized networks proposed by the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology in these metrics.