In the latest digital currency news, we are focusing on the altcoin movements – particularly the best performing altcoins over the past week and their considerable rises. While the equity markets is suffering from the worst week in the past 10 years, the crypto market has bounced sharply from its lows and showed the first signs of a recovery.
Bitcoin Cash (BCH)
BCH/USD saw massive buying over the past week in a surge that helped the altcoin regain the fourth spot in terms of market capitalization. Today, the price of Bitcoin Cash crossed the $200 mark and is trading at $202 with a $666 million market cap.
The IOTa foundation and Audi have recently presented their collaboration to a select audience where the focus was finding solution for real world problems in the area of mobility, IoT and the automotive industry. This made the price of IOTa to rise this Monday and is now trading at $0.377 with a market cap of $19 million, safe at the 12th place.
Since the number of TRON mainnet accounts surpassed 900,000, the technology behind TRON achieved a significant milestone and the price showed instant positive results. Tron (TRX) is now holding the 10th spot with a price of $0.22 and a market cap that is only $2 million short of the 9th-placed Bitcoin SV (BSV).
Bitcoin SV (BSV)
At one point, Bitcoin SV and Bitcoin Cash were trading with an only $10 difference in their price. However, the recovery saw Bitcoin Cash above the $200 mark and Bitcoin SV close to the $110 mark with a market cap of $192 million.
Tech Giant Kakao May Introduce Millions Of People To Crypto
Cryptopia Exchange Resumes Its Trading On 40 Crypto Pairs
XLM Jumps By 11% After Banks Got Interested In IBM’s Stellar Blockchain Opportunity
Digitec Galaxus Group From Switzerland Officially Accepts Crypto Payments
“By using Coinify, we are not running into the knife. It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”Herren said that the decision comes after the prolonged bearish correction on the market where most of the crypto assets lost nearly a third of their value. Despite the fact that investors didn’t really get scared of the decline in prices, institutional adoption is still uncertain regarding making more profits. For example, back in 2018 in June, the Expedia hotel booking platform deleted Bitcoin out of their options and in the same year couple of months back, Reddit also stopped accepting cryptocurrency for its gold membership plans. Years back, Bitcoin became popular because of its attractiveness as a cheaper alternative for expensive payment processors. But as the technology got more popular, the network was unable to handle a higher number of transactions such as Visa or MasterCard and that’s why retailers didn’t choose crypto for making transactions. The Swiss retail giant brings bitcoin back into the retail game. However, traders who are into crypto or those who just hold on to it for better days can now use their coins to purchase something from the retail platform.
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