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Altcoins Are Tumbling: The Top 20 Is Now A Sea Of Reds

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Altcoins Are Tumbling

The sudden crash on the market has led altcoins in a sea of reds. All of this started when Bitcoin lost more than 20% in a couple of days and extended its losses to 4% overnight, as the latest crypto news show. Right now, altcoins are tumbling and the consolidation price is not as strong as we expect it.

As it stands, the painful correction on Tuesday made altcoins suffer. The losses were double-digit ones, and Bitcoin SV (BSV) was taking the lead with a massive hit up to 34%, losing more than a third of its value. Several other major altcoins were also recording multi-month lows.

Right now, we can see that altcoins are tumbling but the situation is better. The markets calmed down and the Bitcoin news show that the most dominant cryptocurrency is now above $8,100 which is still a very critical level for it.

Today’s prices in the altcoin market show us a more dire picture, and the coins are finding themselves in another downtrend price spiral. For example, Stellar (XLM) which is the tenth most popular coin is showing green candlesticks – something rare at this point. XLM is now trading at $0.058 per coin, with a 24-hour gain of more than 3%.

In the Ethereum news today, we can see that Ether (ETH) dropped by 2.5% in the last 24 hours to a price point of $164, after which it recovered to $166 which is its price at press time. This counts for a $60 loss over a period of 7 days.

Ripple’s XRP is also showing a similar downward behavior as altcoins are tumbling. XRP is trading at $0.24 and is down by a couple of percentage points in the past few days. The other cryptocurrencies are also in a sea of red – and there are almost no winners in this downward trend.

The exodus continues, and as altcoins are tumbling, the biggest losers are EOS which is down 3%, Bitcoin Cash which is down by 5%, Cardano and Tron which posted losses close to 3% and Huobi Token which is today down by almost 5%.

The overall cryptocurrency market cap is right now at $214 billion, showing that more than $50 billion have been wiped away from the markets over the past few days.

 

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Altcoin News

How DigixDAO Works: Guide To Its Tokenized Gold System

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how digixdao works
The coming altcoin news inspire us to share the story of one token named DGD and the organization behind it, DigixDAO. As you probably know, the project plans to create a new cryptocurrency backed by actual bars of gold. DigixDAO is the Digix Decentralized Autonomous Organization, a group of participants making decisions about how to grow their ecosystem. But how DigixDAO works in detail - and how can the process of tokenized gold help investors? Well, all of the DGD token holders will make decisions related to any proposals submitted to DigixDAO. As a reward for voting and decision making in the growth of the project, DGD holders receive rewards related to DGX, another token that represents 1 gram of gold. Thus, the tokenization of gold aims to provide stability and store of value in the crypto space. While Bitcoin is often referred to as digital gold, DigixDAO is referred to the cryptocurrency which can actually digitize actual gold and provide ownership. In order to distribute DGX tokens representing 1g of gold, Digix uses Proof of Asset (PoA) in a process which involves recording possession of an asset on the Ethereum blockchain and the creation of PoA Asset Cards.
“The asset cards are certified using sequential digital signatures from the entities in the chain of custody, namely, the Vendor, Custodian, Auditor, which are further validated with proof of purchase and depository receipts provided and uploaded onto the InterPlanetary File System for permanent record
Located in Singapore, the Custodian Vault is The Safe House. The independent Auditor is Bureau Veritas Inspectorate while the Vendor is ValueMax Singapore. Seeing how DigixDAO works, it is also important to note that the Proof of Asset cards are stored on the Ethereum blockchain and contain:
  • Timestamp of card creation
  • SKU of the gold bar
  • Bar serial number
  • Chain of custody digital signatures (Vendor, Custodian, Auditor)
  • Purchase receipt
  • Audit documentation
  • Depository receipt
  • Storage Fees due
The DGX tokens, on the other hand, are created by a smart contract that receives PoA cards and generates these tokens for each gram of gold. For instance, if a 100g PoA card is sent to the smart contract, 100 DGX tokens are created and then sent to an Ethereum wallet. In each case, a DGX token represents 1 gram of gold and is divisible to 0.001g. For more information on the entire project, follow our cryptocurrency news daily or visit DigixDAO's website.
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Basic Attention Token’s Brave Browser Adds One-Click Wayback Machine

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basic attention token
The Brave browser which is an open-source web browser correlated to the Basic Attention Token (BAT) officially added one-click access to the Wayback Machine. This feature basically means that you can access any archived version of the Internet web pages directly from the Brave Browser. As you probably know from reading our Bitcoin news daily, the Brave Browser provides a way for its users to be able to spend their Basic Attention token (BAT) in an easy way. The recent update paves the way for more new features to be added in the future. Mainly based on the Chromium web browser, Brave can block ads and other website trackers thanks to its open-source feature. It also provides a way for its users to be able to send and receive cryptocurrency easily, whether they are sending crypto to various websites, other content creators in the form of BAT tokens and other ways. Written in C, JavaScript, C++ languages, the Brave browser can be used on Windows, macOS, Linux, Android, and iOS operating systems without any problem. Now, the Brave browser has become the first browser in the world to offer the one-click easy access to an amazing archived version of the Internet web pages. This is all made possible by making use of the Internet Archive's Wayback Machine. And if you are interested in hearing how this feature works, it's simple. If you visit a web page on the Internet which displays an error 404 (or any other kind of error) and cannot be accessible, you can still load the page by loading an already saved version of the web page. So, Basic Attention token's Brave browser will automatically display a notification which says “Sorry, that page is missing. Do you want to check if a saved version is available on the Wayback Machine?.” You can then scroll through the older version of the web page and choose from them. Even though the machine does not have all the webpages online, it still has around 400 billion of them stored in its archive. Meanwhile, the latest altcoin news show that Basic Attention Token (BAT) is trading with 4% in losses today at a price of $0.2143 and at the 31st place on the total cryptocurrency market cap list.
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NameCoin Continues To Be More Innovative Than Altcoins: Analysis

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namecoin continues
NameCoin continues to be more innovative than other altcoins as per the crypto expert Sydney Ifergan. What did he mean by that, we find out in the namecoin news today. NameCoin is against censorship and it is an experimental open-source technology that improves censorship resistance, privacy, decentralization, and security as well as the speed of specific components of the internet infrastructure such as identities and DNS. For those that are already into the coin, NameCoin is basically a value pair registration and transfer system based on the Bitcoin technology. Namecoin can be used for a multitude of stuff. For example, it can be used to protect free speech rights online, making the entire web resistant to censorship. It can also be used to attach the identity of the choice of a person with identifying information such as GPG And OTR keys and email. It is also used to access websites by using the .bit top-level domain. The crypto expert Sydney Ifergan tweeted:
 “Namecoin is the first fork of Bitcoin, and it continues to be the most innovative of the Altcoins.”
Namecoin is also praised as the first solution to Zooko’s triangle which was the massive problem creator in the naming system that is secure and decentralized. It also does the job of recording and transferring arbitrary names by attaching data to the names up to 520 bytes. The namecoin names are difficult to censor so the team in terms of Freedom and Information stated that this one should not trust the OpenPGP fingerprints that they should also be verified via a variety of sources and methods. The lead engineer of Namecoin Daniel Kraft explained that they are looking to have all the aspects of the game on the blockchain. The name will expire after 36,000 blocks and in terms of cloud applications, the data will be distributed to many nodes and will be consistent. Namecoin will also be working on proposed ideas such as voting, bonds, stocks, shares, signatures, and proof of existence. The blockchain allows for a decentralized node to reach consensus concerning the order of the events and the state of the system.
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Three Altcoins Could Initiate A Major Upside Despite Bloodbath

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Three Altcoins Could
The bloodbath occurring today on the markets show that the regulation crypto is not the only aspect that is affecting the market. Currently, cryptocurrencies are erasing their February highs amid coronavirus fears and following the stock market crashes which have been there for a couple of days now. According to recent analysis, three altcoins could still initiate a major upside despite the entire situation. A top trader is now in the coming altcoin news for noting that a bullish price action can be still seen despite the intense selloff which brought Bitcoin back to $8,600 at one point. This seloff came as a result of the recent rejection at $10,000 for the dominant coin, with its slow grind lower in the time following the rejection reaching a boiling point yesterday after it broke through the strong support that had been established at $9,500. Naturally, this led al ot of coins to see some intense selling pressure, some of which losing with double-digit declines. However, there are three altcoins which can buckle up and post new gains. In times when "buy the dip" s a phrase used to motivate traders to purchase more coins, the crypto analyst Crypto Michael spoke about the two cryptocurrencies which may offer a prime opportunity for gains.
“LINK and XTZ providing an example of the strength of this market. During 2016/2017 several retracements were done, after which a strong bounce occurred. Even ETH / BTC is now showing strength. There [are] some opportunities in bull markets to buy the dip, this might be one,” he noted.
https://twitter.com/CryptoMichNL/status/1232737766192173057 The Chainlink news are exciting at this point for this analyst, mostly because the LINK token has not been able to invalidate the ongoing bull market. Same goes for Tezos' XTZ altcoin and even Ethereum, which are all seen as altcoins that could initiate parabolic journeys in the near term. It is very possible that the strongest altcoins in the market will continue their upward journeys once the crypto market begins bouncing. Right now, the total cryptocurrency market cap is at $251 billion which is more than $60 billion less than during the strongest rally from earlier this month. Bitcoin's dominance has also fallen and is now at 64% and the 24 hour volume at $200 billion indicates that there is still a strong seloff happening on the markets.
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