As of today, most of the top twenty cryptocurrencies show slight gains at press time and in today’s altcoin news we take a closer look at the price analysis.
Bitcoin, for example, is going towards the $4,000 price point according to the CoinMarketCap data. The number one cryptocurrency is just down by one percent over a period of 24 hours, hovering above the $3,961 price point according to the data. By looking at the weekly chart, the current price is slightly higher than when it was at the start of the week at $3,928.
As DC Forecasts previously reported, Thomas Lee, the Fundstrat Global Advisors co-founder, gave his own forecasts on the crypto market fluctuations by saying that the market has a chance of making a U-turn at the end of August.
On the other hand, we have Ethereum holding its position among the top 20 altcoins by market cap of $14.5 billion. ETH is up by three percent over the past day and is currently trading at around $138 after starting the day at $133. On the weekly chart, we can see that Ethereum has seen its value go up by less than a percent. It also reported a mid-week low that reached $130 on Tuesday.
Vitalik Buterin explained earlier this week that the blockchain applications that are outside of the finance world have trouble gaining traction because they offer decentralization as a primary value.
The second-largest altcoin Ripple managed to increase just a little under a percent in the past 24 hours and is now trading around $0.314. By looking at the weekly chart we can see that the current price is just a little above a percent which is actually a higher point from the beginning of the week.
Ripple’s developer ecosystem project Xpring partnered with a gaming blockchain platform Forte and established a 100 million fund in order to help developers and to support the game.
The total market cap of all cryptocurrencies reached $137 as of today, going up by 2 percent since the value a week ago.
On the traditional side, the stock markets also are experiencing some growth after Nasdaq reported gains of 1.05 percent and S&P 500 reported 0.67 percent gains.
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.
New Report Shows That Bithumb Is Laying Off 50% Of Its Staff
“Voluntary retirement is part of our support program for former employees and is intended to provide assistance and training for job placement. Apart from that, [Bithumb’s] trading volume has decreased compared to the previous year, [so] we are trying to provide internal measures. We will continue to add necessary personnel for various new businesses.”Bithumb still hasn't responded to the requests for comment. However, many speculate that this move is right because of the crypto winter which led to a lot of minuses all over the market. Still, what's interesting is that Bithumb has been preceded by many other firms in the sector - such as the mining giant Bitmain, the blockchain software company ConsenSys, the decentralized social network named Steemit as well as the similar crypto exchanges Coinsquare and Huobi - all of the companies which have decided to make significant cuts in the recent months. According to data from CoinMarketCap (CMC), Bithumb has seen more than $1.3 billion in trades over the past 24 hours. The exchange, however, was removed from the CMC global exchange rankings in January 2018 mostly because of the concerns that the site had over the reportedly "extreme divergence in prices from the rest of the world" and its fellow exchanges in South Korea. Currently, everyone is waiting for an official confirmation about the layoff from Bithumb. The respected exchange hasn't confirmed anything yet but will probably do that over the next couple of days.
Stellar (XLM) Makes Moves Up, Binance Coin (BNB) Flips
Join us on Facebook
- Binance Launched Completes Another Successful Token Sale Of Celer Network
- XLM Jumps By 11% After Banks Got Interested In IBM’s Stellar Blockchain Opportunity
- Trade On YorkBit Today: A Legit Broker With Low Fees
- Digitec Galaxus Group From Switzerland Officially Accepts Crypto Payments
- QuadrigaCX Co-Founder Was Involved In Criminal Activities In The Past
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News4 days ago
Bitcoin Dominance Falls To 2019 Low: Is The Altcoin Season Here?
Bitcoin News1 day ago
Block.one CEO: Bitcoin Will Replace Gold As The Leading Commodity
Bitcoin News3 days ago
BTC Lightning Network Surpasses 1,000 BTC Network Capacity On Its First Birthday
Bitcoin News3 days ago
Boston Legal System Damaged After BTC Ransomware Attack
Bitcoin News2 days ago
Analysis: Could Institutional Adoption Bring The Financial Elite To Destroy Bitcoin?
Altcoin News4 days ago
Cryptocurrencies Are Not Banned In Mexico: Bitcoin Exchange
Blockchain News3 days ago
Blockchain Representatives Raise Concerns About A Nevada Crypto Bill
Bitcoin News4 days ago
CBOE Won’t List A New Bitcoin (BTC) Futures Market In March