The bulls are apparently up and running, as we can see from the latest digital currency news. One of the biggest movements in the new swing was recorded by TRON (TRX) which managed to jump by more than 8.5% against the US dollar, proving its strong momentum.
The altcoin pair TRX-to-USD was trading at $0.023 yesterday and was down by around 4% from its intraday high. However, as the bulls woke up, the pair has recorded an upswing that made it correct to $0.024 and with this set new intraday highs.
In total, the market surged from around $125 billion to $131 billion in the past 24 hours, adding $6 billion to the table. Some of the altcoins that made the news include the names of Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) which all led the bullish correction with gains that ranged from 10% to 20%.
Ethereum and Bitcoin Cash, on the other hand, have also jumped and registered 5% movements on the upside. Bitcoin and XRP were more modest, jumping by 2% to 3% as the market went above the $130 billion mark.
The upside that was recorded by Tron (TRX) moved in the direction of the overall market trend and had a potential to sustain owing to the strong fundamental factors. This has a lot to do with the controversial firm (behind the stablecoin) Tether (USDT) and its recent announcement that it would launch USDT on the Tron blockchain.
#TRON is partnering with @Tether_to, officially introducing USDT into the TRON #blockchain. This integration will elevate our dApp ecosystem, increase DEX liquidity, and enhance accessibility for Partners and institutional investors. $TRX $BTT https://t.co/OL6gFK1C0h
— TRON Foundation (@Tronfoundation) March 4, 2019
Analysts hope that the upswing will continue but may not be as strong as the one recorded over the past 24 hours.
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“The acceptance of Block.one’s tender offer reflected a decision to rebalance the portfolio to maintain an appropriate level of diversification after the position increased due to its substantial outperformance relative to the remainder of the portfolio,” Novogratz then said.As the filing shows, Galaxy Digital Bank can attribute much of this loss to its principal investing and trading businesses, presumably due to the fact that November and December saw Bitcoin and many other coins falling to fresh lows, as the altcoin news showed. The filing notes that Galaxy Digital Bank is primarily founded by Novogratz's wealth, 20% of which is purportedly invested in Bitcoin and Ethereum. Even though the company lost $272.7 million in all of 2018, much of the losses were incurred as a result of sale of cryptocurrency. One Twitter analyst also went in detail on this. https://twitter.com/zhusu/status/1126394118093950983 However, this is not the end of Novogratz & co. The report revealed that as 2018 ended, Galaxy Digital Bank owned $350 million of assets, 50% of which constituted equity/stake in prominent industry startups. More importantly, Galaxy Digital announced the launch of another fund (rumored with hundreds of millions in funding) which will loan out capital to cryptocurrency firms - a business which has boomed during the 2018 bear market - as the latest cryptocurrency news show.
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“BSV doubled on Craig’s copyright news. This is only the start of him proving BSV is the only bitcoin. Now is a great time to convert all your other shite coins to Bitcoin.”However, as reported in the latest cryptocurrency news, the copyright does not entitle Craig Wright with any exclusive rights on Bitcoin. It seems as the big pockets are pouring and pumping the Bitcoin SV market to confirm the ‘’we-are-the-best’’ slogan. A massive 200 price surge is one of the reasons why traders should restrain themselves from buying the high or the lower lows. The Bitcoin SV (BSV) price corrected up to 53 percent before establishing a historic high at $195 on Huobi. The market bias is currently bullish and the majority of the technical indicators signal the strong buying sentiment. With the flawed fundamentals, a dump right now should not surprise the market.
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