Category Archives: Altcoin
What Litecoins Downfall Teaches About The Lifespan Of Other Altcoins – ZyCrypto
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The cryptocurrency ecosystem is always an environment for hot topics. So when popular crypto trader and investor CryptoDonAlt took to Twitter to open the floor for a conversation centering Litecoins performance over the years, the community responded in excitement as many dropped their two cents; some of which are objectively thought-provoking.
Litecoin, as observed by the investor, has been underperforming amongst its peers over the years. A chart showing the four years performance timeline of the altcoin reveals that against Bitcoin and Ethereum, the altcoin has dipped greatly.
In terms of price performance, Litecoin (LTC) lost 70% of its value in May after hitting an all-time high of $413.91 to $133 at press time. What was once valued at $27 billion in market valuation, has now dropped to $9 billion at press time.
Seeing as the altcoin was created in 2011 long before a lot of other assets that are currently dominating the market were createdthe investors question; Why do you think Litecoin fell out of favor? Expanding on that thought, why cant whatever happened to Litecoin happen to your favorite altcoin? is one that many have been asking.
A similar sentiment is being shared by a handful of community members as regards the reason behind Litecoins underperformance; Charlie Lees Litecoin sale in 2017.
Back in 2017, Charlie Lee dropped a bomb on the community, when he revealed that he had sold his Litecoin holdings at an average price of $205.
The market as expected didnt respond quite well to the revelation, as it seemed like a situation of a founder giving up on his own project, which could have swayed a lot of selling decisions during that period. Lee added that he would donate the rest in the future, and continue to work on the Litecoin project regardless, But community members are still not convinced that the project has sustained any major growth since 2017.
It isnt used for anything close to zero economic activity, no network effects, pointless. Its core purpose is served better by bitcoin and its spot as #2 was replaced by ethereum. wrote one popular trader.
On the bigger spectrum, the conversations have created room for a bigger debate, on the expected lifespan of altcoins in the market, as these assets have a long history of falling off the track after some years. The market cup usually diminishes greatly, as trading volume drops, hinting that the asset has little to no use case in the current market.
For DonAlt, altcoins are just temporary and will continue to be replaced by other newcomers.
In his words;
I think altcoins are always going to come and go as soon as better competitors come around but wondering what you guys think.
However, with the likes of Ethereum, and the DeFi coins taking over the market, the narrative could change in the long term.
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What Litecoins Downfall Teaches About The Lifespan Of Other Altcoins - ZyCrypto
Ethereum Price Reclaiming this level ! Will it Pump The Altcoin Market Higher – Coinpedia Fintech News
The leader of Altcoins Ethereum has been struggling to break through key levels and cement them further. ETH price attempted to break through the moving average (MA 50) barrier, hitting as high as $2,411. But, it retraced back to $2,050. Currently, ETH is trading at $2107.80 down by 0.9% in the last 24 hours.
As for all other Altcoins, most of them are trying to move back up in the process of regaining all the losses caused by the sell-off. However, the rallies have not been full-blown yet.
Popular analyst Justin Bennett in his recent strategy session has drawn a parallel between the performance of Ethereum and the rest of the Altcoin market.
He says the entire altcoin market will struggle until Ethereum gives them the signal they need.
Bennet points out a trend in Ethereum that goes back to November 2020, which he believes will determine the fate of altcoins.
He further notes The entire crypto market will stay sluggish and vulnerable as long as the market falters at this level.
I havent seen anyone talking about this trend line on ETH/USD, but its single-handedly holding the market down.
In order for ETH and the rest of the altcoin market to climb higher, Bennett believes Ethereum must recapture the $2,430 level. Otherwise, another period of weakness is on the horizon.
He also says the short-term trend line support is near $2,300. If this level fails, ETH/USD could go south and test $2,000 and perhaps even $1,700.
Though Bennet predicts more losses for altcoins if ETH succumbs to this trend line, he believes that breaking above it might signal huge rallies in the long run.
Ethereum may be well on its way to $10,000 in 2022 if the crypto markets are in the middle of a long bull market rather than the beginning of a bear market, according to him.
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Ethereum Price Reclaiming this level ! Will it Pump The Altcoin Market Higher - Coinpedia Fintech News
Constellation (DAG) Was The Week’s Top Performing Altcoin | – Digital Market News
The concerns said aloud about the general mechanisms of ETH and BTC are one of the reasons for the two assets sideways action in the previous two months. As a result, other competitors have an opportunity for gaining attention. Among them, Constellation (DAG) has stood out in the previous week.
DAG recorded a new all-time high on 10th July, despite the top crypto coins sideways action. It is a protocol that uses an architecture of a guided acyclic graph. The objective is to achieve a consensus that can theoretically scale infinitely.
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Data from TradingView and Cointelegraph Markets have shown a rally of 353% for DAG prices. It rallied from the 22nd June low point which stood at $0.037 to the new all-time high on 10th July standing at $0.17.
The reasons behind DAGs strong showing include a functioning DEX being released, an expanding global partners list, as well as the highly scalable low-cost transactions offered.
The recent Lattice Exchange (LTX) is an automatic market based on maker DEX. It uses the Hypergraph network of DEX. As a result, it offers an almost zero fee as well as a decentralized network that can scale horizontally. Over the previous few months, LTX token yield farming has been added by the project through Uniswaps liquidity provision. Otherwise, it directly stakes the on LTX for a 155% calculated APY.
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Notable partnerships in businesses for DAG include the Airforce of the U.S. and Web Services from Amazon. It has also developed partnerships, in the relevant sector, with KuCoin exchange and Chainlink (LINK).
Recently, Ethereum and Bitcoin have been scrutinized heavily for their cost on the environment and high gas fees. As a result, any project offering secure and cheap gas fees with a TPS that can compete can thrive. The recent Stargazer wallet has a Lattice interface. It also allows zero-cost transactions between persons on the network.
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Constellation (DAG) Was The Week's Top Performing Altcoin | - Digital Market News
Should You Buy Enzyme Crypto as the Altcoin Rallies? – Market Realist
The massive price correction in May caused many crypto investors to lose most of the gains they amassed earlier in the year. However, such price corrections are necessary to weed out the unnecessary crypto projects, bolster the tangible ones, and provide a better proving ground for hopeful and aspiring cryptocurrencies. Enzyme (MLN) has emerged as one of those altcoins. The crypto has made a name for itself during the latest lull.
While most of the market has been slow to gain ground due to the losses they experienced in May, crypto investors are looking to get back their profits as soon as possible. Looking for the next substantial cryptocurrency to invest in early has proven to be more difficult lately. However, looking at hype and momentum surrounding certain altcoins can help investors narrow in on a quick win.
Enzyme has benefited from such activity. Thanks to trading activity, strategic partnerships, and being added to exchanges, Enzyme has stood out from the crowd. But is it a good buy?
Many factors can help a digital token gain value and lose value. Timing when a cryptocurrency will increase is pure speculation. By the time news is out about a particular token, its likely already hit its peak and on its way back down.
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But with Enzyme, the momentum has been pretty consistent. After the big drop in May, Enzyme quickly rebounded to record heights. It has since come back down but has hovered around pre-crash levels.
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Enzyme saw a surge in its price amid the announcement that the MLN token would start trading on Binance on July 5. Being added to the largest crypto exchange in the world helped MLN spike 55 percent in the price to a high of $125. In the 24 hours after listing on Binance, the trading volume for MLN also surged by more than 2,000 percent to $148 million.
On July 5, Enzyme announced a collaboration with Yearn.finance. Through the partnership, Yearns vaults will now be available on the Enzyme protocol. This allows portfolio managers on Enzyme to use yield farming strategies through Yearn as part of their overall investment strategy.
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Yearn.finance has become one of the most expansive and cross-integrated DeFi platforms, and the Enzyme integration further entrenches them among the top.
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Should You Buy Enzyme Crypto as the Altcoin Rallies? - Market Realist
Bulls are back, but regulatory fears hamper the DeFi and altcoin recovery – Cointelegraph
On May 19, the total cryptocurrency market capitalization nosedived by 19% and has since failed to recover to the $1.8 trillion mark. More than 40 days have passed, and investors have begun to question what could happen to altcoins if the current bear market takes longer than expected to recover.
Before digging into that, analysts first need to understand whether specific sectors held out better than most, and more importantly, they should distinguish which cryptocurrencies have managed to stay afloat over the past 30 days.
Although the total crypto market cap is down 5% in 30 days, nearly 44 of the top 100 coins are down 19% or more during this period. This data is a strong indicator that investors have been cutting losses on some altcoins.
The list of worst performers displays an impressive number of tokens from smart contract platforms. In fact, five out of the top six fall under that category. One key aspect could be the sharp drop in Ethereum network gas fees, which is causing less demand for alternative solutions.
Another pattern that has emerged is the synthetic assets category, represented by Synthetix Network Token (SNX), UMAand Perpetual Protocol's PERP token. Investors could be sensing potential issues, as the World Economic Forum recently published a policy toolkit for decentralized finance regulation. Furthermore, Dan Berkovitz, commissioner of the U.S. Commodity Futures Trading Commission,stated that DeFi is likely illegal.
On the other hand, the list of outliers over the past month is significatively shorter. Only 12 of the top 100 managed to present positive performances.
This time around, it is difficult to find a common trend among the top performers. Both Flexa's AMP tokenand Quant's QNTwere recently listed on Coinbase Pro. Meanwhile, Theta is expected to launch its Mainnet 3.0 on June 30. Lastly, Solana Labs, which is behind the popular SOL token, raised $314 million through a private token sale.
Therefore, some conclusions can be drawn from the analysis. The fact that only 12 tokens could present gains over the past 30 days shows that diversification into altcoins may not have paid off. Meanwhile, bets on "Ethereum killers" offered higher losses, as the bear market itself managed to curb excessive gas fees.
Lastly, the regulatory uncertainty around DeFi is realistically not going to be solved over the next 30 days. There is reason to believe that July's Ethereum network upgrade and the reverberatons of El Salvador's decision to make Bitcoin (BTC) an official currency will likely concentrate investors' attention and money on BTC and Ether (ETH).
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.
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Bulls are back, but regulatory fears hamper the DeFi and altcoin recovery - Cointelegraph
Analyst Says Crypto Traders Are Sleeping on One Altcoin As Final Leg of Bull Run Approaches – The Daily Hodl
Popular trader Credible Crypto thinks one large-cap altcoin that some are counting out could see new all-time highs in the coming months.
The pseudonymous analyst tells his 222,000 Twitter followers that Litecoin (LTC) could capitalize on the final legendary leg of the current bull run.
Seeing a lot of people saying LTC had its bull run and its headed to the grave.
I dont trade fractals, but I do think we will see something similar to what we saw in 2017 on the left. Not just for LTC but for much of the old guard. Still think new ATH is on the cards.
As for the timing of his prediction, he thinks the final rally will begin after some months of consolidation have passed.
Credible Crypto also thinks Bitcoin Cash (BCH) could see all-time highs. And he warns traders not to count out XRP.
XRP was also one of the worst-performing majors in 2017, until it wasnt. In the 30 days following BTCs peak, XRP rallied over 10x bringing total gains for its cycle to 62,947% or 629x. Dont count it out simply because it has had a slow start.
Additionally, the analyst says the market is pushing into a key area of demand for the decentralized public network Hedera Hashgraph (HBAR).
Did not think we were going to get a 3rd chance to buy at these levels but the market felt kind.
Note that each successive drive down is aggressively bought up indicating seller absorption as we push into a key HTF area of demand. Buyers are stepping in here, repeatedly.
Credible Crypto predicts that Bitcoin (BTC) will move towards $45-55,000 if it can break $35-38,000. If it goes higher, he plans to short it.
If we can get to 55k Ill look to hedge short. I know if we manage to get there many will be euphoric- calling for new ATH when in reality that region is the most likely place to see a mid-term rejection. Have a plan.
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Analyst Says Crypto Traders Are Sleeping on One Altcoin As Final Leg of Bull Run Approaches - The Daily Hodl
Enterprise Adoption Will Trigger Billion-Dollar Surge in Two Altcoins, Predicts Crypto Trader Tyler Swope – The Daily Hodl
Crypto trader Tyler Swope predicts a billion-dollar deluge of capital will flow into two digital assets, allowing them lead the way in the next altcoin boom.
The host of Chico Crypto tells his 255,000 YouTube subscribers that Compound Finance (COMP) is likely to move much higher on the list of crypto assets by market cap.
Swope references an announcement from Circle where the blockchain giant reveals it will utilize Compound Finance in its plans to give businesses access to decentralized finance (DeFi) lending markets, as well as other services.
This DeFi protocol is going to be the first one which works with Circles DeFi API So why is this a pick of mine besides that blog? Well, for one, it has slipped way down the charts, down to rank 58, while a bunch of token crap is ranked higher with no use.
And you even have some of its C tokens, CETH, CDAI, CUSDC ranked higher than Compounds governance token. This proves massive use of the Compound protocol having those tokens up higher, and I think the governance token should be ranked higher than those At least in the top 30 cryptos.
At time of writing, COMP is trading at $375.34 and is currently the 49th largest crypto asset according to CoinGecko.
The second altcoin on Swopes list is Unibright (UBT), which develops enterprise blockchain solutions, and builds integration platforms and ecosystems for tokenized assets.
Unibright also plays a major role in developing the Baseline Protocol and Baseledger, which is an open-source initiative to provide a suite of new blockchain-based services to business enterprises.
Swope takes note of a recent discussion between developers, who say announcements on the platforms corporate adoption are in the pipeline.
At time of writing, UBT is trading at $1.17, trading almost completely sideways for the past 30 days according to CoinGecko.
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Enterprise Adoption Will Trigger Billion-Dollar Surge in Two Altcoins, Predicts Crypto Trader Tyler Swope - The Daily Hodl
What is an Altcoin? | Cryptocurrency – Investment U
Cryptocurrency is well-established as a mainstream investment vehicle, thanks largely to the popularity of Bitcoin. But Bitcoin isnt the only crypto asset to gain steam. There are hundreds of different altcoins out there, some more popular and stable than others. What is an altcoin? Really, its any other crypto asset outside of Bitcoin; however, serious investors usually only group stable, established crypto assets under this umbrella.
If youre interested in crypto investing but want to avoid the hype surrounding Bitcoin, consider an altcoin. From stablecoins to utility tokens, theres plenty of opportunity out there. Heres a look at altcoins and why investors are flocking to them as Bitcoin paves the way for crypto stability.
Bitcoin (BTC) is by far the most popular cryptocurrency out there. However, at more than $30k per coin, most investors can only afford to invest in a fraction of Bitcoin. Instead, theyre flocking to similar promising coins to make alternative investments in crypto. Theres a sea of cryptocurrencies out there, including popular favorites like Ethereum (ETH) and Litecoin (LITE), which trade for significantly less than Bitcoin.
Theres also a burgeoning small market for upstart altcoins. Coins structured similar to Bitcoin and Ethereum offer the promise of future growth in the early stages of mining, when its possible to accumulate tokens worth very little. Many investors buy into young cryptocurrencies in the hope that theyre the next Bitcoin. Unfortunately, there are more scam coins and unstable coins than there are viable cryptocurrencies. Altcoin investors need to beware.
Before investing in altcoins, investors should be aware of what type of crypto asset theyre investing in. Most people tend to consider all crypto assets currency, but there are different types of coins, as well as tokens to consider. Some of the most popular include:
As the crypto market grows, more and more altcoins spawn into existence. As they do, they take different formseach of which offers some form of value to the holder.
While its nearly impossible to account for all of the new cryptocurrencies and altcoins that pop up each year, there are a few that rise in popularity and value. These tend to be stable altcoins (different from stablecoins) that are well-moderated and designed to control inflation and dilution. Some of the most popular altcoins in recent years include:
These cryptocurrencies range from pennies to thousands of dollars, representing the gamut of opportunities within the altcoin market. Moreover, the crypto landscape is changing so far that a year from now, theres likely to be a new wave of profitable, stable altcoins.
For those interested in an alternative investment, altcoins are a great opportunity. While volatility is a concern in crypto markets, altcoins benefit from tremendous investor sentimentmeaning everyones looking for the next Bitcoin. Even smaller, micro-cap coins have a chance to gain incredible momentum and grow.
Altcoins are also great because theyre generally not affected by peripheral markets. As such, theyre a great hedge against traditional markets, like the stock market or the forex market. This also means theyre less subject to regulation, which allows for more natural development of altcoins as investors take an interest in them.
The big drawbacks of altcoins are the same as any crypto asset. First, theyre new and not well-understood by the common investor. This can mean poor decision-making when investing. Second, the sheer volatility of the crypto market can result in major swingsespecially for less stable altcoins. Finally, theres a threat of market manipulation by bad actors. Small coins with momentum tend to attract pump-and-dump scammers or those who inflate the price with the intent to crash it. All in all, crypto is still an untamed, unpredictable market.
What is an altcoin? Really, any crypto asset outside of Bitcoin is an altcoinbut that doesnt mean every altcoin is a viable one. Altcoins represent an opportunity for investors to get into crypto markets at a lower entry point than Bitcoin, and with more upside. The popularity and support for many altcoins has made them a staple in many modern investors portfolios.
To leasrn more about cryptocurrencies, sign up for the Manward Financial Digest e-letter below. The team at Manward is dedicated to and enthusiastic about the potential and future of crypto. Join them on their journey for more insights, trends and analysis.
Should you invest in altcoin? It really depends on your risk tolerance and understanding of these investments. If you know how they work and have an appetite for the sometimes-volatile world of crypto assets, opening an altcoin position isnt a bad idea. Just make sure youre avoiding meme coins and crypto assets destined for implosion due to poor fundamentals. If its too good to be true, it likely is.
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What is an Altcoin? | Cryptocurrency - Investment U
Top Trader Says This Group of Altcoins Poised To Massively Thrive in Next Bitcoin and Crypto Bull Run – The Daily Hodl
A popular crypto analyst believes a specific set of altcoins could steal the show in a renewed crypto bull run.
The pseudonymous trader, known in the industry as Altcoin Psycho, tells his 278,000 Twitter followers that crypto projects connected to the interoperable blockchain network Cosmos (ATOM) are poised to outperform the market.
Prediction: Cosmos ecosystem will massively thrive in the next alt run. Tendermint making aggressive moves in this shit market is big.
In my opinion, most alts go lower first, but I think an eventual THORChain (RUNE) run will violently drag up Cosmos projects like Persistence (XPRT), Akash (AKT) and DVPN (Sentinel).
Other projects in the Cosmos network include the decentralized derivatives platform Injective Protocol (INJ), decentralized finance (DeFi) liquidity project Kira Network (KIRA) and omni-chain decentralized exchange (DEX) Sifchain (EROWAN).
As for the economy at large, the trader is making made another bold prediction, suggesting many asset bubbles will burst by next year.
In my opinion, in the next 6-12 months, well see people who claim fiat is worthless get burned hard.
Every sub-asset class is in a mini bubble. Look at lumber, real estate, used cars, startup valuations all bubbles. Having sidelined cash may give a generational opportunity soon.
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Top Analyst Says Hes Bullish on Ethereum and Cardano But Another Altcoin Is Looking Stronger – The Daily Hodl
Cryptocurrency analyst and YouTuber Jason Pizzino is considering several crypto assets as the market bounces off of its recent lows.
Pizzino tells his 190,000 YouTube subscribers that hes bullish on Ethereum in the long run, although he expects ETH to drop against Bitcoin in the near term.
ETH, its one of those ones Im happy holding
I still think its got a little further to fall. It is starting to slow. I wouldnt be so surprised if I saw a little bounce here, maybe to 6%, maybe further just to come up and test these lows again before it keeps trickling down.
The YouTuber says that Cardano (ADA) is also on his radar given that it maintained its value better than other altcoins amid the selloff.
Cardano is looking strong. This is one of those tokens, one of those cryptos that I would be looking at purchasing if I see a base begin to form before other cryptos. Like I said, Im not going alt shopping, but ADA is definitely high on the radar considering how strong it has been holding up.
Pizzino says Solana (SOL) is looking even stronger than ADA, as it has held onto its BTC value since May 15th.
SOL/BTC is dead on the same as it was on the 15th. So we havent lost any Bitcoin value from that [point] Thats strong in my opinion, and like I mentioned earlier, there are now some alts which I would consider beginning to dollar cost average into.
Solana is one of those. Cardano is potentially another, but Solana looks a little stronger here. ETH is potentially another, but Im still waiting on that.
Pizzino says he is also eyeing the utility token of the Binance cryptocurrency exchange, Binance Coin (BNB).
The cryptocurrency analyst argues that it is a good sign that Binance Coin on the US dollar chart (BNB/USD) is currently above the 0.618 level on the Fibonacci indicator despite having fallen by around 50% since May 15th.
Binance, it is down 50% from the 15th. Down around 50% It is starting to find some support at the previous re-accumulation zone before it took off to its last top. Potentially [it] could break further. Im just pointing out the obvious here that you can see it is starting to hold up. And were also on our 61% level which is a good sign.
The Fibonacci indicator is a tool used by many traders to highlight levels of interest during market pullbacks. Traders often see signs of strength in an asset if it manages to stay above the 0.618 level in times of market corrections.
Featured Image: Shutterstock/Freve
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Top Analyst Says Hes Bullish on Ethereum and Cardano But Another Altcoin Is Looking Stronger - The Daily Hodl