The latest altcoin news show a pile of losses for the most popular cryptocurrencies in the market cap. It seems like the altcoin apocalypse is strong at this point – showing that the further Bitcoin has climbed, the worse the altcoin market has suffered.
It all went to the point where many are calling for an altcoin apocalypse that takes the price of most cryptocurrency assets to zero, except for Bitcoin and a select few coins that still provide value and utility.
A new report shows that of the top ten crypto assets, only two altcoins have statistically outperformed Bitcoin this year (2019). The coming altcoin news also feature these coins as the ones with the best chances of recovering and reaching new all time highs.
In times when a lot of crypto analysts are calling for another 50% drop in the altcoin markets which may form a double-bottom, others believe that an all-out “alt season” is ahead. What we can see right now, however, is nothing short of an altcoin apocalypse and something in between. Many altcoins from the last hype bubble doomed forever – and other clear winners with real utility emerged from the ashes of the “altpocalypse.”
According to data from the San Diego-based Blockforce Capital Chief Investment Officer David Martin, the altcoin apocalypse shows that only two of the ten cryptocurrency assets have outpaced Bitcoin in 2019. These include the names of Litecoin (LTC) as well as Binance’s native token, Binance Coin (BNB).
10/ #Altcoins Altcoins continue to underperform #bitcoin, as #BNB and #LTC are the only two in the top ten that are outpacing bitcoin year-to-date. #ETH #XRP #BCH #EOS #XLM #TRX #ADA #BTC pic.twitter.com/DUzRMe2JZF— David Martin (@mrtn_dvd) August 12, 2019
While Bitcoin (BTC) managed to grow by 168% in 2019, the latest cryptocurrency news show that Litecoin (LTC) brought in 2014% in gains while Binance’s native crypto token BNB has been nothing short of amazing – posting 364% gains in 2019 which makes it the top performing cryptocurrency of the year.
Bitcoin Cash (BCH) is right behind Bitcoin in the fourth place, while EOS is edging out Ethereum in a neck-and-neck race for the fifth and sixth position. Cardano (ADA) is at the seventh spot, followed by Tron (TRX) in the eight place. Ninth place is reserved for Ripple (XRP) which is held down by the company behind the protocol that sold of an abundance of tokens throughout the year.
Most of the alts won’t reach all time high if the altcoin-to-Bitcoin ratio remains the same, according to analysts. The altcoin apocalypse shows just how poorly these assets have performed this year in correlation to BTC.
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“The users are in control of the digital assets, which is something that hasn’t happened before. I think that over time players will gravitate toward games where they are more in control.”As per the other Decentraland news, HTC announcing that the altcoin MANA will be their strategic partner, MANA spiked almost two times against the US dollar. For those of you who are asking themselves why these unique crypto assets are part of HTC and Samsung’s plans, the truth is that both smartphone manufacturers believe that their potential exceeds the realm of payments and goes above and beyond the popularized cryptocurrencies in the likes of Ripple, EOS, Litecoin, Stellar and TRON.
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“There are tons of projects that use the liquidity from individual DEX networks, but the liquidity isn’t connected. Our goal is to provide the best price for any token trading pair on the market...it’s pretty much guaranteed with 0x API because we’re just pulling from networks that have the best prices.”For example, while 0x is quite liquid when it comes to popular trading pairs such as DAI and ETH or USDC to DAI, he says that there’s a lack of liquidity on other coins such as Augur that could be more liquid on another network. 0x wants to solve this problem by creating an order that will be split between all DEX networks and returning back the best price there is. With only a few code lines, the 0x developers can now connect to the API and get a quote in the back end so they will be able to execute the transaction at the best prices. Taylor continued:
“We want to be the most liquid decentralized exchange, but we also want to provide developers the best price. If that’s not on 0x native liquidity, we’re happy to give them on Kyber, for example, because that’s a better developer experience. ‘’0x API does not have a bridge with dYdX which is a margin lending exchange that started sourcing liquidity from 0x in 2019. The platform has a closed pool as Matt explained so while the maker that uses 0x API could potentially make an order on the margin trade on dydx, there is not a single possibility on the taker side to fill dydx trades via 0x API.
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