Category Archives: Altcoin
Litecoin LTC price holds steady at $42, but analyst warns of a potential correction – Cryptopolitan
Another day of mostly sideways movement sees Bitcoin holding onto $7,000, up 0.90 percent over 24 hours. Together with Ethereum, Bitcoin SV, and EOS, Litecoin is the only other top 10 altcoin in the red. At the time of writing, the Litecoin LTC price has lost 0.33%, with a trading value of $42.35.
After seeing a sharp increase yesterday in which the LTC price jumped from about $39 to $42, Litecoin has since managed to hold on to much of those gains. After looking at the technicals, David Smith has stated that Litecoin has been trading in a tight range today between $41.80 and $43.15. He, therefore, suggests trading the confirmed breakout from one of the boundaries.
Litecoin LTC price chart by Trading View
Alex Clay believes the Litecoin LTC price is set to continue its descent. As per his analysis, the price has found strong support at the $41.92 mark. However, having formed a descending triangle pattern, the trader states that if the price makes a confirmed breakout below this support level, it would be prudent to take a short position.
Litecoin LTC price chart by Trading View
In Grayscales most recent quarterly report, the cryptocurrency asset management firm reported that it holds almost 2% of the circulating supply of Bitcoin. This figure is up from 0.1% recorded at the end of 2019. The large uptick in ownership is attributed to increasing institutional interest in the Grayscale Bitcoin Trust (GBTC). As per the report, the firms ten crypto funds drew in over $500 million in investments, its best quarter on record.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.
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Litecoin LTC price holds steady at $42, but analyst warns of a potential correction - Cryptopolitan
This Surprising Altcoin Dominates Crypto Trading Volume, Second Only to Bitcoin – Bitcoinist
The altcoin known as Chainlink, or LINK, was last years top-performing crypto asset, even beating out Bitcoin by a large margin. The cryptocurrency also beats nearly the rest of the market, sans only Bitcoin, in true reported cryptocurrency trading volume, according to new data.
Chainlink may not even be in the top ten cryptocurrencies by market cap at this point, trailing behind Tezos, but its crushing nearly every other cryptocurrency in overall trading volume across cryptocurrencies exchanges, according to Messari crypto market data.
The evelenth-ranked crypto asset is currently trending ahead of the likes of number two and three crypto assets Ethereum and Ripple.
Related Reading | Bitcoin Still The Best Performing Asset of the Past year Despite Chilling Crash
LINK saw over $130 million in trading volume on April 13th, compared to just $118 million in Ethereum. LINKs trading volume nearly doubles that of XRP at $77 million. Chainlinks trading volume is also equal to that of Binance Coin, EOS, Tezos, Bitcoin Cash, and TRON combined.
The only cryptocurrency that Chainlink falls behind, is Bitcoin the first-ever cryptocurrency.
Bitcoin enjoys first-mover advantage, giving it enormous market dominance. Its also the most regulated of the cryptocurrency assets, giving it more acceptance and prominence amongst high wealth institutional traders and hedge funds.
Considering that Chainlink beats out other more widely accepted and utilized altcoins like Ethereum and XRP, it shows just how popular the asset has become with retail crypto investors and traders, who have become enamored by the asset regularly providing substantial returns.
During 2019, Chainlink rose by over 1,400% to close out the year as a top-performing altcoin. The asset started off the year strong, even setting a new all-time high even during peak coronavirus fear and panic.
The chaos eventually overwhelmed even LINK, which fell by over 70% to nearly $1. On some crypto exchanges, the asset flash crashed during the selloff to nearly zero, before making a sharp recovery.
Related Reading | Macro Factors Signal That Crypto Bottom Is Not Yet In
Now that some of the public panic has calmed, Chainlink has been showing a strong recovery, revisiting local highs but falling short of setting a new one.
The absolute monster of a cryptocurrency, however, may experience some significant downside in the near term. After setting a lower high, the asset has since triggered a TD 9 sell signal on daily timeframes across both the USD and BTC trading pairs.
The signal, created by market timing expert and math god Thomas Demark, has repeatedly proven extremely accurate in the crypto market, even calling Bitcoins recent top above $7,400. It also accurately called Bitcoins bottom at $3,200 and the top at $20,000.
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This Surprising Altcoin Dominates Crypto Trading Volume, Second Only to Bitcoin - Bitcoinist
Ripples XRP Was The Worst-Performing Altcoin In Q1 2020, Report Finds – ZyCrypto
Down by more than 10% at the end of the first quarter of 2020, Ripples XRP turned out to be the worst-performing altcoin among the top 25 cryptocurrencies.
A recently-published report by Messari shows that the reduction in XRP sales by Ripple has not helped revive the coins battered prices.
Of the top 25 cryptocurrencies, save for bitcoin, Ripples XRP performed the worst during the first quarter of this year. The cryptocurrencys price dropped from around $0.1931 on January 1 and closed at $0.1737 on March 31, marking a decline of over 10% throughout the quarter.
Messari, a major blockchain and crypto research firm, pointed out that this poor performance came in spite of the many alliances that Ripple forged during the quarter. The blockchain payments firm partnered with several companies that will use the On-Demand Liquidity (ODL) solution which leverages XRP cryptocurrency.
Messari also observed that the BitMEX exchange launched its very first XRP perpetual swap contract that gave the crypto-asset exposure in one of the most liquid cryptocurrency exchanges in the crypto space.
Regardless, XRP became the worst-performing top-25 altcoin in Q1 2020.
Ripple has long endured criticism over its XRP sales. The fintech firm, however, dramatically reduced its quarterly sales last year in a bid to maintain a conservative approach.
For instance, Ripple sold 13.1 million XRP in Q4 2019, compared to 66.2 million sold in the third quarter of the same year representing an 80% decrease. The company also paused programmatic sales en masse due to persistent reports of inflated volumes.
Nonetheless, Messari found that these efforts have proved ineffective so far. XRP has continued on a downtrend and remains stuck below its January 2018 all-time high of approximately $3.80.
Messari also cites the comments made by Ripple CEO Brad Garlinghouse during the first quarter of 2020 where he basically proclaimed that if it were not for the XRP sales, the firm would not be profitable.
Looking forward, the analytics firm argues that the ongoing class-action lawsuit against Ripple regarding whether XRP should be classified as a security or not will march on for the foreseeable future.
Ripples motion to dismiss the lawsuit was dismissed by Judge Phyllis Hamilton in late-February.
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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto.This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.
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Ripples XRP Was The Worst-Performing Altcoin In Q1 2020, Report Finds - ZyCrypto
HTC Exodus to Offer Monero Mining – Business Partnerships – Altcoin Buzz
HTC, the Taiwanese electronics giant, is set to enable Monero (XMR) cryptocurrency mining through its blockchain smartphone, Exodus. It is set to partner with the ASIC chip design company, Mida Labs, for this initiative.
According to an announcement on April 10, this is a giant stride for HTC as this is the first instance of bringing crypto mining to the mobile phone space.
HTCs partner in this venture, Mida Labs are the developers of DeMiner, an app to enable mining activities on mobile phones. The app, however, is set to be available for download by 2020 Q2.
The DeMiner app is similar to desktop computers due to its hash rate ability. However, it holds the edge as it consumes lesser energy, thereby making it cost-effective.
Speaking on the occasion, Phil Chen, the decentralized chief officer at HTC, voiced his concern about how the giant mining pools are dominating hash rate. According to him, making mining accessible for the masses through mobile was the answer.This app makes smartphone mining cost-efficient, which gives incentives to individual miners and helps to decentralize the network, he said.
And an effective way of achieving this is included in the app design. As a result, it can automatically inactivate mining irrespective of the phone being in use or the charger in an unplugged state.
According to Dr. Jri Lee, the founder and CEO of Midas Labs: We developed the DeMiner App such that a smartphone will have a hash rate comparable to a desktop while consuming much less power. This enables mobile devices to be suitable for cryptocurrency mining (in a plugged-in state) for the first time. Starting from the open-source framework, we restructured and optimized mining for mobile.
Dr. Lee further expanded on the apps energy-saving advantages. He explained that Exodus 1S users would be able to mine at least $0.0038 of XMR per day on average. And to sweeten the deal, electricity cost would be just half of that.
HTC has been a pioneer in the integration of blockchain into the mobile phone arena. It had launched its Bitcoin-enabled smartphone, Exodus S1 in October 2019.
Reportedly, Phil was quoted saying: Bitcoin and mobile phones are the most important and impactful technology inventions of recent times. Feeling privileged for his frontline involvement with both technologies, he outlined the core values they shared decentralization and a more inclusive monetary system.
HTC recently installed a built-in crypto wallet in their Exodus smartphone, called Zion Vault. Also, last month, it partnered with Kyber Network to bring crypto-to-crypto trading facilities to users.
This latest development of introducing cryptocurrency mining further highlights HTCs commitment towards driving blockchain integration in smartphones on a higher scale.
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HTC Exodus to Offer Monero Mining - Business Partnerships - Altcoin Buzz
Litecoin LTC price faces headwind, but gains may be on the horizon – Cryptopolitan
The market has entered another round of sideways movement shortly after Bitcoin peaked at about $7,200 yesterday. Now, as the apex cryptocurrency trades at $6,806, the losses are echoed among almost all the top 100 altcoins. Litecoin, however, is actually up slightly after experiencing a decline from almost $46 yesterday to where it is currently trading at $42.12, an increase of just less than half a percent (0.44 percent).
As Alex Clay explains, the Litecoin LTC price has been falling in a descending channel. If the LTC price can reach the resistance level, and assuming we see a confirmed retracement from there, he recommends opening a short position. On the other hand, another potential short position would be if the Litecoin LTC price makes a confirmed retracement from where its trading at the time of writing.
Litecoin LTC price chart by Trading View
Alternatively, Moon333 has provided a different analysis. As explained, Litecoin is forming a new bullish harmonic shark pattern but will soon enter a potential reversal zone. Therefore, the recommended buying zone has been set between $41.14 and $40.69, with the latter being used as a stop loss. If we see the price make a reversal, the trader recommends selling between $41.66 and $42.70.
Litecoin LTC price chart by Trading View
Another major altcoin, XRP has taken a blow as a recent report from Messari reveals Ripples cryptocurrency to be the worst-performing cryptocurrency in the first quarter of 2020, excluding Bitcoin. XRP began the year at $0.1939 and ended the quarter at $0.1740, a decline of 10.26%.
Its unfortunate price-performance stems from several partnerships Ripple has made in an attempt to leverage its liquidity platform, On-Demand Liquidity. At the time of writing, the XRP price is up 0.32 percent to $0.1868.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.
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Litecoin LTC price faces headwind, but gains may be on the horizon - Cryptopolitan
Bitcoin Dominance: 2-Year Uptrend Breaking Could Spark Altcoin Boom – newsBTC
Bitcoin dominance has not only broken down from a two-year-long uptrend, but it has also retested the trend line as resistance and failed to reclaim the key level.
With trend line support now confirmed as resistance, its likely that Bitcoin dominance could see an extended downtrend in the days, weeks, and months ahead. But what does this mean for altcoins and the rest of the cryptocurrency market?
Bitcoin dominance is a metric that weighs Bitcoins market cap against the rest of the cryptocurrency landscape.
As the first-ever cryptocurrency, Bitcoin enjoys a first-mover advantage, brand power, and the most institutional interest and financial world support compared to the rest of the crypto market.
Related Reading | Peak Fear Crypto Market Shows Big Bitcoin Recovery is Imminent: Analyst
This has helped Bitcoins market cap grow massively in relation to the rest of the thousands of altcoins making up the industry.
Prior to 2017, Bitcoin dominance had never fallen below 94%. It was that year and the hype bubble that sent BTC dominance is a brutal downtrend, falling to as low as 35% dominance.
But as the bubble popped, and the irrational speculative valuations of these untested altcoins fell by 99% or more in most cases. Even the strongest altcoins like Ethereum or Ripple fell by over 90%
It resulted in an uptrend forming in both Bitcoin and BTC dominance, bringing the metric to a peak of 73% during the last two years.
The uptrend support line, however, was finally breached in February 2020 during the massive altcoin market breakout, supported by historic trading volume.
BTC dominance has since retested the two-year-long uptrend line and confirmed it as support turned resistance.
With a bearish retest confirmed, further downside in BTC dominance is probable. And when Bitcoin dominance drops, it is time for altcoins to shine.
When altcoins outperform Bitcoin, crypto analysts and traders refer to this as an altcoin season. However, its been since before 2018 and long before most crypto investors bought in at the top of the bubble since such an alt season has occurred.
Crypto investors and traders may not know what to expect from altcoins when dominance breaks down. The last major breakdown resulted in BTC dominance falling from 95% to just 35%.
Related Reading | Crypto Titanic: Altcoin Investors Must Prepare to Sink With The Ship
A similar, 60% move down from the recent peak of 73% dominance, would mean Bitcoin has just 13% market share at the end of the next downtrend. A move like that would mean that altcoins have taken over the crypto market in a major way, and Bitcoin will be left at risk of falling out of its leadership position for the first time ever.
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Bitcoin Dominance: 2-Year Uptrend Breaking Could Spark Altcoin Boom - newsBTC
Ripples XRP Could Be Ready to Pop Off, Claims Analyst – newsBTC
XRP may soon be ready pop off and go on one of its once a year rallies the asset is known for, according to one cryptocurrency analyst.
The analyst points to the altcoin nearly doubling in value in sats as the most logical target for the surge. Is Ripple finally ready to recoup some lost gains?
XRP has remained locked in the top three cryptocurrencies by market cap alongside Bitcoin and Ethereum throughout the bear market, despite being among the worst-performing crypto assets in the market.
Related Reading | Ripple Poised to Triple By Q4 2020 After XRP Forms Classic Bottom
The third-ranked cryptocurrency peaked in late 2017, reaching over $3.50 per token before falling by over 95% to a low of just 10 cents this past month as coronavirus fear and panic spilled into financial markets, causing a massive selloff.
After such an incredible, over two-year-long fall from the top, XRP is finally showing signs that it is ready to pop off once again, and potentially go on one of the assets annual rallies, according to one crypto analyst.
Its rare that XRP is able to sustain a strong rally. Not only are investors seeking to sell the asset at the first glimmer of recovery after spending more than two years underwater, Ripple executes themselves add selling pressure to the market to fund regular company operations.
But at least once per year, typically coinciding with Ripples annual Swell conference, XRP experiences a massive pump.
Dating back to the crypto hype bubble, XRP has at least one per year had a powerful pump.
The first was in the above chart can be seen in late December 2017, propelling Ripple to an all-time high of over $3.50, or 23,000 satoshi on the Bitcoin trading pair.
The next pump took place in 2018, resulting in an explosive 167% return for XRP investors on the XRP/BTC trading pair.
Again in 2019, Ripple had another pump, but only resulting in a 50% return. Each time following the asset reaching its all-time high has resulted in decreasing gains with each annual rally.
Related Reading | XRP May Explode After Major Buy Signal Triggers on Monthly Price Charts
However, the next major rally could be incredibly explosive now that sell pressure is running out following over two years of downtrend.
When resistance finally breaks, XRPs first target would be 4000 sats, or roughly a 50% climb, mimicking the performance of the 2019 pump. However, if that target is taken out quickly, more explosive upside could result from over two years of a downtrend.
On average, XRP has rallied 555% between the three rallies, showing just how high the asset could potentially rise if the first 50% target is taken out.
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Ripples XRP Could Be Ready to Pop Off, Claims Analyst - newsBTC
Ethereum, Tron continue to rally as uncertainty looms over Decred – AMBCrypto
In light of the crypto-markets inherent volatility, its easy to forget how certain altcoins did a while back. With the larger market focused on Bitcoin and its price performance, Ethereums better-than-expected performance in the early days of 2020 has been put in the shade. Also forgotten is the performance of Tron, once one of the top-10 cryptocurrencies in the world by market cap.
Ethereum [ETH]
Ethereum, the crypto-markets top altcoin, has witnessed a topsy-turvy 2020. After a very successful 45 days in January and February, the price of ETH soon stalled, with the market crashing soon after in March on the heels on Bitcoins own crash on the 13th. However, it would seem that ETH might be on its way to recovering its lost gains now, with the token trading at $169.04 at the time of writing, having surged by 18.85% in a matter of just 5 days.
This surge comes on the heels of Santiments data revealing that Ethereum was recording a spike in network development activity. However, it must be noted that this figure was still way off from its highs from January 2018.
TheParabolic SARconfirmed the bullish track Ethereum was on with the latest dotted markers all below the price candles. Further, theRSIhad stabilized, with the indicator staying steady between the oversold and overbought zones on the chart.
Tron [TRX]
TRX, once one of the markets top cryptocurrencies, has been struggling off-late, with the token languishing down at 16th on the cryptocurrency charts. At the time of writing, TRX was valued at $0.013, with a 24-hour trading volume of over $972 million, having recorded a growth of just over 12% over the past 5 days.
However, it would see that TRX may be in for some stability now since theBollinger Bandswere holding steady. This should not, however, discount the possibility of bullish volatility in the market, however, as theMACDsuggests.
On the development side, Tron was in the news recently after Seychelles-based crypto-exchange Poloniex launched a new Tron-powered IEO platform.
Decred [DCR]
Decred, the autonomous digital currency with a hybrid consensus system, unlike the two altcoins listed above, is still in danger of falling back into bearish territory. While DCR did record 8.96% in gains over the past 5 days, its press time price, $12.80, was still closer to its support at $10.03, than its resistance at $19.17.
This uncertainty was highlighted by the Klinger Oscillator, an indicator that suggested that a bearish crossover was in the works. Further, theChaikin Money Flowindicator continued to stay below zero, suggesting more capital outflows than inflows.
Originally posted here:
Ethereum, Tron continue to rally as uncertainty looms over Decred - AMBCrypto
XRP Price Hits $0.20 as Over 200M Coins Transferred… – Coinspeaker
XRP price has risen by around 8% within the last 24 hours. 211 million XRP has been recently transferred between several wallets with some anonymous and others identified to be owned by corporate investors.
As every crypto coin has begun to gain momentum and is rising now, XRP price is also rising. The coin is trading at $0.20 at the time of writing. It means that the coin has gained 7.78% within 24 hours.
The crypto has broken above the overhead resistance at $0.18867. If the bulls can sustain the altcoin above this level, it will signal strength. There is a minor resistance at the 50-day SMA ($0.20) and above this level a rally to $0.25 is possible.
Reportedly, as the coin gradually gain momentum, unidentified investors at both retail and institutional level are transferring a large amount of the coin amongst their wallets and sending them to major crypto exchange firms.
According to XRPL monitor, in the last 8 hours, as much as 211 million XRP was transferred between several wallets with some anonymous and others identified to be owned by corporate investors. The other wallets were set up and now being operated by crypto exchange firms.
The transfers were made over 12 times to send and receive around the whole sum which amounts to $39,518,525.
Part of the identified crypto exchange firms that were involved in the transfer where Bithumb, Ripple, and Binance according to the Bithomp website. There is a series of tweets on the XMRL Monitor Twitter account.
Regarded as the third-largest crypto coin after BTC and ETH, XRP is trading at $0.20, Now it means that it is the second in this row as for the gains within 24 hours. As XRP has gained around 8%, BTC has added around 4% while ETH is the leader with its 13%.
Reportedly, the rise to $ 0.20 was anticipated by traders and also expected to plunge back to as low as $0.14. XRP token, however, has continued to gain traction with Republican Congressional candidate David Gokhshtein declaring support for the coin saying that XRP is not useless.
Gokhshtein, who is a rare pro-crypto voice, also has explained before now that the coronavirus backed economic recession will no doubt have a drastic effect on the crypto industry and predicted then also that individuals would begin selling their Bitcoin for fiat, a way of surviving during this crisis.
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XRP Price Hits $0.20 as Over 200M Coins Transferred... - Coinspeaker
3 Altcoins To Consider In This Time Of World Crises – ZyCrypto
Amidst the world economic crisis, one thing crypto investors look for is digital assets that can stand the test of time. The current COVID-19 pandemic has negatively affected major market prices with panic selloffs causing investors to dash into exchanging their crypto holdings for cash.
The massive selloff ripped the crypto market off billions of dollars in losses over the past weeks, leaving most people to wonder if things will get better for the crypto market prices to recover.
There is no reason to think that the market prices will not fully recover, or this crisis will even bring the crypto market to an unfortunate end. However, choosing the right altcoin is vital to your successful HODLing journey. Here are three altcoins that you may need to consider during this time of crisis.
Ethereum is still one of the top cryptocurrencies and second-best by market capitalization. Although many altcoins dropped back as Bitcoin rallied in February, Ethereum was able to scale to a new 2020 high. ETH is currently in high demand, and by its low supply, it can bring many gains with the next bull run.
EOS is still an altcoin with a high potential this year. It appears to be on every list as a promising altcoin. It is reported that, if big players such as Amazon and Uber move to the blockchain, EOS will be their focal working point.
Furthermore, Binance Coin has been ticked by most experts as an immeasurable digital currency. The cryptocurrency market has witnessed a significant selloff that keeps trading platforms very active. As Binance is one of the top cryptocurrency exchanges which offers more favorable rates in the market, BNB is set for immense growth.
Cryptocurrencies are classified as high speculative assets, and as such, investors should do more research before investing in any coin.
Nevertheless, with the newly effected cases of the pandemic reducing drastically in Asia, it brings a kind of hope to investors as the Asia continent shoulders a large part of the crypto community.
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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto.This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.
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3 Altcoins To Consider In This Time Of World Crises - ZyCrypto