Even though the entire crypto news section is flooded by news about downward trends in the market, the negative sentiment is not seen in every altcoin out there. Aside from Bitcoin and its constant ups and downs, the mayhem in November also produced some nice movements and right now, we are seeing the first signs of buying at lower levels.
What’s certain is that an uptrend move in short span of time is not exactly a reality we will see soon. However, there are many altcoins that are performing solidly and outperforming their competitors. We are listing them below.
Tron (TRX) has overtaken Ethereum as the most popular decentralized application (DApp) platform in the world right now according to analytics. The founder and CEO, Justin Sun, recently said that the cryptocurrency will add privacy features to its network early next year. The company is also establishing a blockchain gaming fund named TRON Arcade – with an investment of about $100 million in the next 3 years.
The TRX/USD pair hasn’t been able to break out of the 20-week EMA since falling below it in early June. The bears broke below the momentum last week and the cryptocurrency is trying to get closer to the $0.01 mark.
Many see Litecoin (LTC) as a failed experiment – but there are also people who believe that the current drop is a massive buying opportunity and that there could be highs in the future for LTC.
The LTC/USD pair witnessed a massive erosion of wealth over the past few months and is now attempting to break through the $28 level which is not seen since mid-June of last year. Still, there isn’t a noticeable bounce for the altcoin since April of this year.
NEM (XEM) is right now the third best performing cryptocurrency over the past week, rising by about 8%. This shows that many buyers are willing to support the XEM/USD pair at lower levels.
If the bullish action succeeds, it will indicate that NEM (XEM) could rally back to the top of the range, closer to $0.13. The moving averages are also flattening out and the RSI is also climbing, suggesting a consolidation in the near term.
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Privacy Cryptocurrency Monero (XMR) Celebrates Its 5th Birthday
“Monero is very committed to its decentralized, grassroots structure meaning we took no premine. We don’t take a percentage of the block rewards. There was no [initial coin offering]."He also estimated that there is anywhere from 100 to 200 volunteers working on the Monero XMR project, a number which is mostly “depending on people’s time and availability." The project itself, according to Salazar, is not just about building a blockchain protocol. As featured on many altcoin news sites, it is also about redefining and boosting a global movement that will be centered around digital privacy.
“We’re not just trying to make global internet money. We’re trying to teach people the importance of things like privacy…It’s a very powerful tool and I think it’s a very necessary tool in our day and age,” Salazar noted.There is right now a free PDF version of a book titled "Mastering Monero" which talks about the privacy cryptocurrency Monero and is created by an Italian contributor with an alias "SerHack" who released it. Originally published in late 2018, this book was fully funded by the Monero community and is designed to teach non-crypto users the importance of "private and censorship-resistant transactions."
“With monero, for every input that you are spending, you will pull other inputs from the blockchain, other people’s random inputs…and it makes it appear as if all these inputs are spent. It makes it seem mathematically like any one of these [inputs] could have possibly been the [transaction] signers," another report notes.From Salazar's perspective, however, there are many improvements to the privacy cryptocurrency Monero - one of which is the upgrade of the network's user interface and experience (UI/UX) which are set to happen in the upcoming months.
Binance Coin (BNB) Is The First Crypto To Surpass Its 2018 All-Time High
- Utility - The main purpose of the BNB coin was to allow traders to receive significant discounts on trading fees when using BNB to pay for them - with recurring discounts in regards to listing fees, withdrawal fees, exchange fees and other fees.
- BNB Burning - Binance Coin (BNB) had a limited supply of 200 million but the Malta-based exchange later said that it would leave just 100 million BNB in circulation.
- Binance Chain - This is another major development trending in the altcoin news section as one of the recent launches for the decentralized exchange Binance Chain.
- Changpeng Zhao (CZ) - Last but not the least is the boss of Binance, the popular CZ, who is behind the rise of Binance Coin (BNB) and constantly playing a role as a prominent individual in this market.
Crypto Market Cap Surges To $180 Million, Binance Coin (BNB) Leads
Crypto Exchange Poloniex Starts Tether (USDT) Support
"To support both versions, our crypto exchange Poloniex will be converting a percentage of Tether currently on the Omni network to Tether on the TRON network. The amount of USDT we receive in the airdrop will be based on the amount we convert. Once the airdrop begins, Poloniex customers will be credited based on the amount of Tether they hold on Poloniex. The airdrop is scheduled to begin on April 30th and more details will be provided next week."According to the announcement which went viral in the Bitcoin and altcoin news, the development will support Tether on both chains - the USDT issued on the Omni protocol and the Tron network. The crypto exchange Poloniex also said that their decision to support the new chain is reasoned by expanded flexibility it provides to the USDT platform. In order to support the two issued versions, Poloniex will be converting a percentage of Tether which is currently on the Omni blockchain to Tether within the Tron blockchain. As Poloniex noted in the announcement:
“The amount of USDT we receive in the airdrop will be based on the amount we convert. Once the airdrop begins, Poloniex customers will be credited based on the amount of Tether they hold on Poloniex.”Meanwhile, Tether started issuing USDT on the Tron (TRX) blockchain on April 17th - and this development has been an upgrade from the Omni protocol-based USDT. As the best cryptocurrency news sites reported, this would enable users to hold and transfer the cryptocurrency through smart contracts on Tron. In December 2018, the crypto exchange Poloniex launched a dedicated offering for institutional traders and joined an increasing array of operators looking to service the institutional market. Before that, Poloniex explained then that the move had been taken in order to ensure that the exchange complies with the regulatory requirements in every jurisdiction. However, this announcement did not refer directly to any specific regulations.
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