Crypto market recovers as Litecoin, EOS, and Augur made gains over the weekend despite Bitcoin getting a lot fewer changes. The leading cryptocurrency remained bound to the $9,200 price range but altcoins are finally getting some more variety as we are reading further in the coming altcoin news.
The most notable gainers in the top-10 are EOS and Litecoin with about 5 percent gains each while Comos and Decred lead the lower leagues with about 8 percent increase. Augur entered the double-digit territory with a 16 percent increase at the time of writing. Litecoin’s spike does not seem to have been caused by immediate news. The founder of the cryptocurrency Charlie Lee announced the funding of a proposal that will see the MimbleWimble protocol implemented in the coin by a former Grin developer.
The move seems to be largely of a technical nature and could also show that Litecoin is taking back some of the hedges against Bitcoin. The price of Litecoin in BTC terms has remained largely stagnant for the past few months. On the other hand, EOS rises despite congestion. The five percent increase comes in while the EOS network is heavily congested with the users complaining that they are incapable of making transactions. New accounts and users without access to CPU resources are left stranded and this could not be reflecting positively on the price.
While this issue raises some more important questions for EOS, the crypto market recovers and the traders still have faith in most of the projects since both long-term and daily sentiment are above 60 percent. REP’s daily high of about 20 percent has little to rely on. The project didn’t release any major updates except for the weekly roundup that highlights the platform’s betting dynamics in the 2020 US Presidential Elections.
One community member even retweeted by the official accounts, highlighting the community’s excitement about the elections. While it is highly unlikely the elections to cause such a strong spike in price, the expectations for Augur 2.0 could boost the fuel REP’s price in the immediate future. Make sure to keep a close eye on the price since November is known to be a game-changer for the altcoins and their prices.
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