Category Archives: Altcoin

South Korea: Hacked Crypto Exchange Upbit Finally Resumes ETH Deposits and Withdrawals – BTCMANAGER

Upbit, a top South Korea-based cryptocurrency exchange that lost $51 million worth of ether (ETH) to hackers last year, has announced that it has resumed deposits and withdrawals for the altcoin, reports Business Korea on January 14, 2019.

Cryptocurrency exchange hacks and heists remains a pain in the neck for market participants in the digital assets ecosystem and South Koreas Upbit exchange tasted its fair share of the bitter cake last November, in a $51 million ether (ETH) hack.

However, after nearly two months of shutting down deposits and withdrawals for the worlds second-largest cryptocurrency by market capitalization, Upbit has now decided to move on with its normal operations.

Per sources close to the matter, Upbit, the Dunamu-owned bitcoin (BTC) trading venue has reinstated ether (ETH) deposit and withdrawal services on January 13, 2019, just a few days after it reportedly normalized deposit and withdrawals for other altcoins including litecoin (LTC), XRP and EOS.

Notably, in a bid to safeguard its assets from future hacks, the exchange has made it clear that it has now replaced the previous ether wallet with a new wallet system and has asked users to take note of its new ether wallet addresses.

Upbit said:

We have put in place a new wallet system for deposit and withdrawals of digital assets. It is difficult to specify whether to open or withdraw funds one by one or all at once in the future.

While centralized exchanges are yet to find a permanent solution to the menace of crypto hacks, most established platforms, including Changpeng Zhaos Binance have put measures in place to ensure users get their entire funds back even after a major hack.

Reportedly, Upbit recently released its due diligence report and the exchange stated that it covered the entire 342,000 stolen ether with its own assets.

Its worth noting that this is not the first time that bad actors are targeting Upbit crypto exchange.

As reported by BTCManager earlier in May 2019, the North Korean hacking group, Kim-Soo-Ki, launched a phishing attack on Upbit, in an effort to steal users funds.

Despite the ups and downs, Upbit remains one of the Korean crypto exchanges doing its best to promote the growth of the blockchain ecosystem. The exchange organized its first blockchain developer conference in September 2018.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Visit link:
South Korea: Hacked Crypto Exchange Upbit Finally Resumes ETH Deposits and Withdrawals - BTCMANAGER

Litecoin Gains 10% Against The Dollar, Is This The Start of an Altcoin Rally? – newsBTC

While Litecoin started 2019 with a massive rally leading up to the assets hard-coded halving, the fifth-largest cryptocurrency by market cap later retraced almost the entire rally. It also led the way for a massive altcoin run, just before Bitcoin began to skyrocket and caused the alt market to correct.

After a steady, prolonged decline, Litecoin has begun rallying once again, growing 10% on the day against the dollar and as much as 5% against Bitcoin. Litecoin gaining once again, could also be a sign that altcoins are finally going to grow in value after an extended selloff.

Litecoin broke out this week alongside Bitcoin, and quickly rocketed out from the recent lows and trading range the cryptocurrency had been confined within. But while Bitcoin struggles to gain its footing for a move higher, Litecoin was able to go on a massive, 13% rally intraday against the US dollar.

Related Reading | Max Pain: Bitcoin Boredom Incoming Before Bull Market Begins

On the LTC/USD trading pair, Litecoin after this weeks rally drop back down to a low for today of $43.75, then over the course of a few hours gained as much as 13% to reach $49.50 before retracing to current levels around $48.75 for a solid 10% gain on the day.

Crypto analysts on Twitter had been asking why Litecoin was pumping, but its likely due to the altcoin market and even Bitcoin, being so oversold due to the ongoing downtrend, that even the smallest glimmer of bullish sentiment can send the price of crypto assets flying high.

Litecoin isnt just gaining against the US dollar, but also against Bitcoin. On the LTC/BTC trading pair, Litecoin outperformed Bitcoin today by as much as 5%, even with Bitcoin climbing on the day as well.

Litecoin is often called the silver to Bitcoin as digital gold, but the two cryptocurrencies dont always have much correlation. As Litecoins halving was reached, Bitcoin took off on a rally, while LTC dropped from highs around $145, all the way back down to a recent local low of $36 marking a 75% decrease in price.

But on the Bitcoin pair, things werent much better, as nearly even altcoin in the market, including Litecoin, lost significant value from their ratio against BTC.

Ahead of its halving, the 5th ranked crypto asset by market cap reached 18,911 sats on the ratio, falling to a low of just 5,481 satoshi, representing a 71% drop against Bitcoin. During todays rally, Litecoin rose 7% bringing the price to over 6,100 sats before falling to current prices and closing the day with a 5% gain.

Related Reading | Crypto Bubble Deja Vu: Altcoin Lisk Gains 50% Against BTC

Litecoin rallying against Bitcoin bodes well for the altcoin market, as when this occurs it usually kicks off a major rally across the entire asset class. Typically, during these phases, Bitcoin either also rises or stays relatively stable, allowing the alternative crypto assets a chance to regain some lost ground against the reigning king of crypto.

Read the original here:
Litecoin Gains 10% Against The Dollar, Is This The Start of an Altcoin Rally? - newsBTC

Cobinhood is the Latest Altcoin Exchange to Shut Down – NullTX

Cryptocurrency exchanges are the backbone of the industry. For some companies, remaining operational is a challenge.

Cobinhood, a once popular trading platform, will seemingly throw in the towel.

More specifically, the company has confirmed it will shut down starting today.

There will also be an audit of user accounts to ensure funds can be withdrawn.

It is expected that this process will last an entire month.

For the time being, users are advised not to deposit any money, as those transfers could be lost permanently.

Why the exchange is shutting down exactly, remains a big question.

No official reason has been provided in this regard, even though users deserve an explanation.

This news also comes following a similar notice by the COSS exchange.

It too leaves users without funds for a full month, allegedly to move to a brand new platform in the coming weeks.

It seems unlikely that both incidents are related to one another.

However, Cobinhood suddenly shutting down raises a lot of questions that cant be answered.

Why the auditing process takes a full month, remains unclear as well.

There is a chance a hack of theft of funds has taken place.

Incidents like those can often force an exchange to shut down accordingly.

Continued here:
Cobinhood is the Latest Altcoin Exchange to Shut Down - NullTX

Dash Surges by Over 16% as Bitcoin Price Hovers At $8,100 – Cointelegraph

Sunday, Jan. 12 most of the top cryptocurrencies are reporting moderate gains on the day by press time, as Bitcoin (BTC) hovers around the $8,100 mark again.

Market visualization courtesy of Coin360

Among the top cryptocurrencies, the one that has seen the most growth over the last 24 hours is DASH, which was up by around 16.27% at its peak. The coin currently stands at $66.84 with a 13% gain over the past 24 hours. The weekly chart shows a growth of 33.7%.

Dash 7-day price chart. Source:Coin360

Also NEO has seen notable growth, with its current price of $10.35 being exactly 7.45% higher than the same time yesterday. Over the last week, the coin grew by 11.44%.

Neo 7-day price chart. Source:Coin360

Bitcoin price is currently up by 0.48% on the day, trading at around $8,102 at press time, according to Coin360. Looking at its weekly chart, the coin is up by about 8.28%.

Bitcoin 7-day price chart. Source:Coin360

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $15.8 billion. The second-largest altcoin, Ripples XRP, has a market cap of $9.3 billion at press time.

Coin360 data shows that ETH has seen its value increase by about 1.37% over the last 24 hours. At press time, ETH is trading around $144. On the week, the coin has also gained about 5.1% in value.

Ether 7-day price chart. Source:Coin360

XRP is up by about 2.04% over the last 24 hours and is currently trading at $0.214. On the week, the coin is up by 10.3%. The coins price is still holding on to a big portion of the gains that it obtained at the beginning of the week.

XRP 7-day price chart. Source:Coin360

At press time, the total market capitalization of all cryptocurrencies is $217 billion, about 8.66% higher than the value it reported a week ago.

View post:
Dash Surges by Over 16% as Bitcoin Price Hovers At $8,100 - Cointelegraph

More Altcoin Mining to be Integrated by Mining Pools in 2020 – Report – Cryptonews

Source: iStock/Vitalij Sova

2020 will see the mining pools start to integrate more altcoin mining with huge market potential and risks, says token data and rating agency TokenInsight.

The agency's 2019 mining industry report claims that there are only 64 mineable coins including Bitcoin (BTC) with more than USD 100,000 trading volume in 24 hours, and these (with BTC) account for 82% of total crypto market capitalization. What we're seeing now is altcoin mining and staking entering the main stage, says the report. These will get more market attention, and an increasing number of mining pools will start to integrate them, wanting to differentiate their services, diversify revenue streams and compete with other mining pools.

Also, as the industry faces the issues of transparency and supervision, major mining pools are actively building brand credibility, and its likely that the future will bring inspection and reporting in cooperation with independent third parties and decentralized mining pool protocol.

This year, we might also see more cloud mining products launched targeting the broader market. However, the future of the cloud mining market is outside of China, particularly in Russia, TokenInsight finds, adding that the number of users in Russia is staggering. The countrys development and participation in BTC mining will increase in 2020 with the ease of policies on crypto, but also the weather advantages.

According to the researchers, cloud mining platforms are relatively concentrated, with nine platforms sharing more than 80% of the market, while most of the cloud mining products are currently unprofitable.

Taking the Bitcoin mining reward halving in May into account, under the current mining difficulty and BTC price, most of the cloud mining products on the market are not worth investing in. When the block reward is halved, if the hashrate, or the computing power of the entire network, is reduced by the same proportion, then less than half of the cloud mining products tracked by TokenInsight cant make a positive ROI (return on investment), says the agency.

Also, the researchers claim that the whole mining industry is extremely concentrated, with the top four companies accounting for c. 95% of the market. The agency made 2020 predictions for SHA-256 ASIC mining hardware market shares, finding that Bitmain will continue its reign with 63%, Canaan will climb up, back to the 2nd place, with 18% of the market share. If Eband goes public in 2020, it will have a positive impact on its market share and will squeeze out other players. Whatsminer has more than 20% of the market share in 2019, but its founder Yang Zuoxing, was arrested in 2019.

Nonetheless, what will largely determine the success or failure of mining hardware manufacturers, says the report, is the support of chip makers. The chip supply is relatively in shortage, and mining hardware manufacturers have to compete with mobile phones for it.____

Watch the latest reports by Block TV.

Watch Bitcoin educator, entrepreneur Andreas M. Antonopoulos, discussing the economics of mining pools and is it possible that certain wallets are collaborating with mining pools to propagate there first.

More:
More Altcoin Mining to be Integrated by Mining Pools in 2020 - Report - Cryptonews

Ethereum, Monero hashrate mainly concentrated in Europe – AMBCrypto

The world of cryptocurrencies is often talked about in the context of future developments, which is why Bitcoin mining has been largely spoken of in the background of the upcoming halving. However, altcoin mining has been fairly unnoticed. Unlike Bitcoin mining, altcoin mining is considered more complex. Thus, it is still at a relatively nascent stage, said a report by TokenInsight.

As per CoinMarketCaps listing, there are over 400 mineable coins in the market, out of which only 63 coins, excluding BTC, have a ~$100k+ 24-hours trading volume. The mineable coins, including BTC, account for roughly 81.9% of the total market cap. Bitcoin miners used ASIC chips, whereas smaller altcoins are still using GPUs and unlike the king coin, they are not concentrated in China.

Grin, among other mineable coins, has 13 mining pools with top 2 pools contributing over >50% of the total hashrate while using ASICs and GPUs. The hashrate for Grin mining was concentrated largely in the Asia-Pacific, along with Europe and North America. On the other hand, Monero and Ethereum had 43 and 71 mining pools, respectively, with the hash rates mainly concentrated in Europe.

Source: TokenInsight

Among the mineable coins and miners, Bitcoins PoW miners dominated the market in terms of industry value and industry revenue. However, the altcoin PoW mining market has been growing significantly. The report added,

Surveys have shown that 60% surveyed large companies mine multiple crypto assets whereas small scale miners tend to mine a very limited number of crypto assets, possible due to,1. Information asymmetric between the miners2. Learning and research costs are significantly high in the small scale miner groups3. High barrier to entries due to time, knowledge, information and data.

Original post:
Ethereum, Monero hashrate mainly concentrated in Europe - AMBCrypto

4 Signs the Cryptocurrency Altcoin Market May Have Finally Bottomed – Cointelegraph

Bitcoin (BTC) made a sudden jump of 9% in the past 24 hours. However, altcoin cryptocurrencies have been showing strength recently as well.

Recent surges from large caps have been in the double digits with Dash (DASH) surging 50% and Bitcoin Cash (BCH) 30% in the past four days. Is it possible to draw a conclusion that the altcoin market capitalization is potentially bottoming? Lets find out.

Crypto market daily performance. Source: Coin360

Many altcoins have reached their cycle low levels, which means that many of them hit levels not seen since before the bull market in 2017, and some have even dropped to their January 2016 levels. One example is Dash.

Dash BTC 5-day chart. Source: TradingView

Markets tend to move in cycles, through which data accumulates from previous periods. The Dash chart is showing a cycle low in 2016 at the green rectangle.

A similar level and bounce are spotted from this price through the past weeks, combined with bullish divergence. This bullish divergence was also spotted on smaller time frames in January 2016.

XMR BTC 5-day chart. Source: TradingView

At the same time, a full retrace to these levels is not always necessary. It can also retrace towards the cycle lows in 2017. An example of such a chart is Monero (XMR). This privacy-focused coin retraced back to the first support of the last cycle, found around 0.00600000 satoshis.

The same phenomenon is spotted here, which means that theres another bullish divergence marking a local bottom.

So is a new cycle is going to start? If we would do a survey of sentiment between regular altcoin investors, then it would currently be depression, as the majority of the altcoins have been crushed in the last months against their BTC pair.

Moreover, a similar view is found on USD pairs with XRP (XRP), in particular, demonstrating major weakness in recent months.

XRP USD 5-day chart. Source: TradingView

XRP lost major support at $0.30 and retraced towards the next major support, seemingly the last crucial one. The same views were found in the previous cycle, through which similar support was tested before continuation and a bull market started. That period was in January 2016 when the breakdown occurred, and now its January 2020.

Remarkably, the best period for altcoins is when Bitcoin makes a slow, upwards grind. People tend to have Bitcoin as their safe haven and trade altcoins a bit more. However, when Bitcoin starts to turn parabolic (like we saw in June 2019), altcoins are being sold for Bitcoin. And when Bitcoin decides to move downwards, people and traders sell their cryptocurrencies for USD.

Hence, Bitcoin has to now find a cycle low for altcoins to gain some upward momentum.

BTC USD 5-day chart. Source: TradingView

Given this chart, the price of Bitcoin hit a 4-year old trendline and bounced from it. Aside from that, the golden pocket Fibonacci ratio held as well, which is showing signals of a possible bottom formation.

Similar, in January 2016, a bottom formation was found as well, which gave altcoins freedom to grow, as the price of Bitcoin was making slow movements to the upside.

A similar thought and expectation could be the case here, in which Bitcoin is slowly grinding upwards in the coming months, giving altcoins space to continue.

Another significant sign is the stoppage of downtrends. Some large caps have broken out of their 2-year old downtrends while some of them still have to break upwards. One example is Bitcoin Cash.

BCH BTC 5-day chart. Source: TradingView

This chart shows that the price broke a 2-year old downtrend, which could signal the start of an uptrend from here. A similar breakout is seen in the Ethereum Classic (ETC) chart, though, admittedly, Ether (ETH) is not quite there yet.

ETH BTC 4-day chart. Source: TradingView

Nevertheless, Ether is close to breaking it. If we analyze this chart, it shows that ETH fully retraced to the 2016 lows as well. Additionally, the low in September 2019 at 0.01645000 satoshis marked a bullish divergence.

This pattern also marked the beginning of previous bullish reversals. For example, as of January 2016, a slightly higher low led to a breakout of the downtrend, comparable with the movements of January 2017 and January 2018.

Thus, another 2-year old downtrend is on the table here, ready to be broken to the upside. If that occurs, a significant move should occur for altcoins if the biggest altcoin finally breaks out of its downtrend.

Indeed, the first quarter of the year once again looks like a good period for trading altcoins. In fact, Ether has been reversing these downtrends almost always in Q1.

Total altcoin market capitalization chart. Source: TradingView

A significant sign is a bounce in the green zone from the total altcoin market capitalization. This level was the support zone in 2017 before the big bull market. The level also served as support in April 2019 before the significant surge of altcoins occurred (and ETH rallied towards $360).

However, the total altcoin capitalization needs to show strength and break the downtrend. If that occurs, total altcoin capitalization could then see $80 and $125 billion as the next levels.

Total altcoin market capitalization chart of 2015. Source: TradingView

A similar retest occurred from November 2015 to January 2016, the last cycles low. A retest was necessary to confirm support before the altcoins started to make their moves.

Therefore, there are more arguments for potential long entries and possible bottom formations on altcoins rather than further downwards pressure. However, the crypto market is highly unpredictable, so tread carefully. If Bitcoin decides to make a move towards $9,500, altcoins may likely be crushed further against their BTC pairs.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Original post:
4 Signs the Cryptocurrency Altcoin Market May Have Finally Bottomed - Cointelegraph

Dead Crypto Projects Declined in 2019, Are Altcoins Reviving? – Bitcoinist

The past two years have been brutal for the majority of altcoins to say the least. One statistic has been positive however, and that is fewer crypto projects died in 2019 than in 2018.

Bitcoin was the clear king of the crop in terms of performance during 2019. Only a handful of altcoins such as Binance Coin, Tezos, Chainlink and HT managed to surpass it in terms of gains.

New research by LongHash has revealed that as bad as last year was, 20% fewer crypto projects bit the digital dust compared to 2018.

The study delved into DeadCoins.com which has collated data on 1,840 crypto projects that have died since September 2017.

According to its data, there were 518 blockchain project demises in 2019 which is down from the 647 crypto projects which became a memory in 2018.

The determination of a death is derived by categorizing cryptos as Deceased, Hack, Scam or Parody. The majority of projects it deemed dead fell into the scam category, and of those there have been quite a few. Almost 60% of dead projects were alleged to be scams for both years running.

The research added that most blockchain projects died in the first quarter of 2019, during the cold the depths of crypto winter. A total of 283 projects dissolved in Q1 accounting for more than half of the years total deaths.

Markets began to rally in Q2 2019 which would explain why the number of project deaths dwindled then and for the rest of the year.

Further research revealed that the number of new blockchain projects has sharply declined since 2017, as scammers turns to other means of extorting people and weak projects perish.

Another measure of death for an altcoin, especially in terms of price or tradability, would be its volume or liquidity.

Bitcoinist recently reported that as many as 95% of current altcoins have pretty much no liquidity which could also spell death for many of them. Only the top twenty or so have any tradable volume.

Looking at CMC at the moment, VeChain is the 20th token when ordered by volume discounting stablecoins. It only has a mere $80,000 in daily volume which is testament to low liquidity across the altcoins.

Taking these two findings into account the next altseason seems to be a long way off indeed, if there is even to be one at all. LongHash added that there are likely to me many more project deaths this year as 2018s ICOs run out of steam.

Additionally, bitcoin continues to dominate as its market share tops 70% again, leaving the rest of the cryptosphere shrinking at its mercy.

Will altcoins ever recover again? Add your comments below.

Images via Shutterstock

View original post here:
Dead Crypto Projects Declined in 2019, Are Altcoins Reviving? - Bitcoinist

All 4 Past Januaries Started A Different Altcoin Trend, Will January 2020 Ignite a New Altcoin Season? – CryptoPotato

The new year is here and it started off kicking. Bitcoin went on a rollercoaster, dropping to a low of $6,850 only to surge back up to $8,000 days later. As its almost always the case, the cryptocurrency market followed. Looking at how January turned out for altcoins throughout the past 4 years, its safe to say that it acted as a catalyst to both bullish and bearish markets. Its interesting to see whether 2020 will ignite a new altcoin season. So far it seems that this is where its headed to.

January is the first month of the year and, naturally, a lot of predictions, as well as historical comparisons start from it.

When it comes to altcoins, its interesting to note that January usually marks the beginning of a certain trend. Thats what historical data shows.

As it can be seen in the above chart, in 2016, altcoins marked some very serious gains. It wasnt until 2017, however, when the market really surged. The year is perhaps the most important in the entire brief history of cryptocurrencies. Almost all of them peaked, reaching their all-time highs back then. Moreover, this is when cryptocurrencies got popular and were properly introduced to the general public.

2018 was a cool-off year. The prolonged bear market saw a lot of the altcoins lose a major chunk of their value. As a matter of fact, a lot of them were trading upwards of 90% below their ATH value.

The following year of 2019 was the recovery period. Even though a lot of the altcoins did mark certain gains, they were nowhere near the increases seen back in 2016 and 2017. At the very least, however, the year halted their previous decline and marked their recovery.

With all of the above being said, perhaps the most logical question is what will happen with altcoins in 2020. While its anyones guess, the year has started on a fairly positive foot.

So far, all of the major altcoins are trading in the green since January 1st. The most notable gainers include Bitcoin Cash (BCH), thats up 17.5%, Bitcoin SV (BSV), up 16.9%, XRP, up 11.75%, and so forth.

Its also worth noting that 2020 is the year of Bitcoins halving. While it has nothing to do with altcoins directly, its not uncommon for them to follow the price of Bitcoin. A lot of people expect that BTC will surge following the halving, and its interesting to see whether this will have an impact on altcoins as well.

Enjoy reading? Please share:

Read more here:
All 4 Past Januaries Started A Different Altcoin Trend, Will January 2020 Ignite a New Altcoin Season? - CryptoPotato

Stellar jumps 8% as Bitcoin taps $8,000; what will push XLM even higher? – CryptoSlate

For the third or fourth day in a row, bulls have taken control of the cryptocurrency market. Save for Tethers USDT, Cosmos, and a few other outliers, the top digital assets posted strong gains, pushing the market capitalization of the crypto market back above $200 million for the first time in weeks.

Bitcoin itself posted 6 percent gains, surging as high as $8,000 on Jan. 6, but it wasnt BTC that was setting the pace, it was seemingly XRP and Stellar Lumens (XLM).

In the past 24 hours, XLM rallied by 8 percent, with the price of the popular altcoin reaching as high as $0.0495 as buyers have stepped in en-masse. This surge has been aided by relatively high volumes, with CoinMarketCap reporting that pairs related to the cryptocurrency have seen $255 million worth of trades in the past 24 hours, corroborating the idea that this surge is valid.

It isnt clear what pushed XLM higher on Jan 6, though there are a few theories floating around.

The foremost of these being that XRPs surge led to similar gains in the price of XLM.

Earlier Jan. 6, CryptoSlate reported that XRP saw quite the surge as Bitcoin pressed higher, rallying by 12 percent to the current price of $0.22 from multi-year lows around $0.18 established just a week or two weeks earlier.

XLM effectively underwent the exact same bout of price action, strongly rallying higher off multi-year lows in the wake of XRP, described as a cousin of XLM.

While XLM has already seen an impressive performance over the past few days, there may be a confluence of fundamental factors that will push the cryptocurrency higher and higher.

Firstly, in December, the Stellar Development Foundation and Keybase, a crypto-friendly group messaging community and file transfer hub, revealed that it would no longer continue the giveaway of 2 billion XLMvalued at just shy of $100 million as of the time of writing this.

Yes, the fact that Keybase ended its airdrop may seem like a bearish signthe giveaways premise was to spread the adoption of the cryptocurrencythough, in reality, it may benefit XLM holders.

Although there havent been any concrete analyses done, cryptocurrency information firm Messari found that the altcoins with the highest inflation rates (Zcash, XRP, and XLM) were performing the worst. With giveaways contributing to cryptocurrency inflation rates, the premature conclusion of the Keybase airdrop may actually result in less selling pressure on the XLM market.

And secondly, the Foundation near the end of 2019 burned 55 billion of the tokens, sending coins, a majority of which were slated to be released into the open market in the coming years, to a Stellar account with no signers. Similarly to the previous event, this means that fewer coins will hit the market, aiding a bull case for XLM.

Even if the abovementioned fundamental events dont do anything to aid Stellar Lumens, altcoins as an entire asset class have purportedly room to rally, meaning that everything from Ethereum and Litecoin to XRP and XLM could have legs to move higher from here.

Below is a chart from prominent cryptocurrency trader Dave the Wave an analyst who called Bitcoins decline to the $6,000s when BTC was trading above $10,000. It the chart, the pseudonymous trader is depicting that the aggregate market capitalization of all altcoins has bounced off a key logarithmic support, and is thus poised to rally higher into 2020 and beyond.

Not to mention, the Relative Strength Index of this metric has formed a double bottom just as it did in a previous market cycle, implying a strong breakout to the upside in the coming months.

Stellar, currently ranked #13 by market cap, is up 4.21% over the past 24 hours. XLM has a market cap of $972.39M with a 24 hour volume of $257.76M.

Chart by CryptoCompare

Stellar is up 4.21% over the past 24 hours.

Original post:
Stellar jumps 8% as Bitcoin taps $8,000; what will push XLM even higher? - CryptoSlate