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Altcoin News

Ethereum Overtakes Ripple To Secure The 2nd Place And ‘Top Altcoin’ Position Once Again



In the latest news on our DC Forecasts crypto news site, we have Ethereum (ETH) reclaiming its top altcoin position and rising by $500,000 clear of Ripple (XRP) and its market cap in a new surge that brought the total cryptocurrency market capitalization to $130 billion.

Thanks to the positive gains that Ethereum (ETH) recorded, it is now the most successful altcoin and the second biggest cryptocurrency by its market capitalization. It suddenly reemerged and surpassed XRP’s market cap.

Currently, Ethereum (ETH) is trading at $147.96 with a $15.4 billion market cap measuring a growth of more than 8% overnight, while Ripple (XRP) is at $0.363 measuring a growth of 1.94% and now with a market cap of $14.82 billion which is less than $1 billion short of Ethereum’s market cap.

With this, Ethereum placed itself as the best performer in the top twenty cryptocurrencies and started 2019 with a new surge, dominating the altcoin market.

Recently, the founder of TRON criticized ETH for failing to capitalize on progress in its development roadmap. Even though no one from Ethereum’s team responded to these claims, the altcoin has shut down many mouths with its new and steady growth.

We are waiting to see if Ripple (XRP) will follow this rise and possibly regain its second position held for many months.

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Altcoin News

USDT-TRON Stablecoin Is Going To Be Listed On OKEx

The fourth largest exchange for Bitcoin, OKEx, is making headlines today. As we previously mentioned, Tether has been expanding its USDT product to the Tron blockchain. In the recent cryptocurrency news, however, the community has embraced OKEx's decision to list the USDT-Tron pair on the exchange.

OKEx Lists USDT-Tron As 4th Largest Bitcoin Exchange

Standing as fourth largest Bitcoin exchange by adjusted volume, OKEx has recently announced:
In order to meet users’ demand for stablecoin trading, OKEx will support USDT-TRON, the TRC-20 based USDT token co-developed by TRON and Tether, as well as the airdrop for USDT-TRON holders. By then, OKEx will support three protocols of USDT, namely USDT-Omni, USDT-ERC20, and USDT-TRON. Please stay tuned for our further announcements.
What's important is the fact that centralized exchanges are not the real beneficiary of USDT-Tron right now. However, the majority of the Tron tokens trade on decentralized exchanges which run on the Tron blockchain. TRX itself has some stablecoin markets including Binance. As soon as USDT-Tron is live, the liquidity of the Tron economy will reshape and every token will have a price in both TRX and fiat. It will be similar to ERC-20 assets and their price in fiat - in fact fiat and demand have their own way of dictating the actual value of the tokens.

The Real Benefit OF USDT-TRX

USDT-TRON is currently great for TRX tokens. Since Tether (USDT) is the oldest pegged stablecoin, it has some authority on the market. The real question right now, however, is who will be next to cross the blockchain barriers since most of the stablecoins are only available on Ethereum. Among the other blockchains that could use the liquidity boost are EOS, NEO, Cardano, Aelf and Tezos. Any of these could benefit from the ability to quickly trade into a stablecoin without having to go through a centralized exchange, which is the real benefit of the USDT-TRX move. To sum things up, Tron and EOS are not far behind Ethereum in terms of the developer ecosystem. In fact, their userbases outpace Ethereum in terms of growth. However, in terms of liquidity and financial markets, Ethereum is the most dominant smart contract platform. All in all, the move to create a Tether stablecoin on TRX its a major leap forward for Tron.
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Altcoin News

Bitcoin Is Close To $4,100 As Tokens Gain 20%

The valuation of the total cryptocurrency market cap has risen to more than $141 billion and is now reaching a new milestone as the market is improving. We are seeing green everywhere in the latest cryptocurrency news - with a focus on the most dominant cryptocurrency, Bitcoin (BTC). Even though Bitcoin has not recorded the biggest rise on the day, it is coming close to the $4,100 mark which is crucial for the cryptocurrency. The gains of 1% to 2% are repetitive for most of the top 10 cryptocurrencies which made sure to rise in terms of value and contribute to the growing market cap. By rising more than $1.5 billion overnight, the market showed that it is led by the Bitcoin price. Based on the global average, BTC has remained above the $4,000 resistance level for more than a week now - and tokens have followed with new surges of up to 20% on the day. Even though Bitcoin was a hot topic over the past couple of months for its inability to break out of the crucial resistance levels set in the $3,000 zone - it now managed to cross the $4,000 mark and is rising as we speak. The sentiment around the market is positive and is expected to improve, too. Earlier this week, some reports suggested that analysts still foresee the Bitcoin price testing its lows in the $3,122 to $3,500 range before a potential accumulation in the upcoming months. Even though we don't need to be so optimistic, the trend line is positive and since mid last year, Bitcoin has shown a pattern of experiencing several months of stability and then dropping largely afterwards. So, if BTC continues to climb up in the $4,000 and $5,000 range, the resistance levels will climb too. According to Anthony Pompliano who is the co-founder and general partner at Morgan Creek Digital, the institutional investors and asset managers that are likely to buy BTC in the long run are committing to the asset class.
"In my opinion, blockchain and crypto-related investment opportunities will be one of the fastest growing sectors in the alternative asset management space in the next 10 years. This means that every alternative asset manager will have to create a strategy to help their LPs gain exposure to the nascent industry," Pompliano said.
Aside from the greens recorded in the top 20 cryptocurrencies, the best performers on the day include the names of Ontology, Ravencoin, Tezos, Huobi Token, and KuCoin Shares - all recording gains from 12% to 25% on the day.
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Altcoin News

Analyst: 90% Of Smaller Crypto Projects Will Result In Complete Loss

The latest news and headlines on our DC Forecasts crypto news site feature one fundamental analyst who picked up steam in the crypto waters for saying that the majority of the smaller crypto projects and not-known altcoins will result in complete losses. In times when Bitcoin is stabilizing and trading over the $4,100 margin in a slow and steady climb, traders everywhere are rejoicing over the so-called altcoin season that is upon us. Still, before we celebrate the new surge and the start of a new bull run, it is important to see the fundamental statistics. According to the fundamental analyst who is known under the Twitter handle "Wolf of" - the vast majority of the cryptocurrencies on the market will result in "complete loss" for investors who are playing the role of venture capitalists by funding projects with little to no use in real world. The self-proclaimed crypto trader has taken to Twitter to express his concerns in investing in smaller crypto projects. He also compared crypto investors to venture capitalists who invest in startups with a high rate of failure. The trader's concerns are not that much about investing in cryptocurrencies - but more about the fact that uninformed cryptocurrency investors don't appear to understand the risk to reward ratio in investing in crypto projects. The trader also claimed that smaller crypto projects are unproven and often have tiny teams - hence their similarity to startups.
“No matter how these small projects are financed (via an ICO, premine, fair launch, dev reward, self-funded etc.), they are essentially young startups in a completely unproven technological field. Such startups are known to have an extremely high failure rate of about 90%,” the analyst explained.
The "Wolf of" also said that only Bitcoin, Ethereum and Monero are the coins that have "traction" and ones that should make up core crypto exposure.
"There’s no denying that there’s a realistic chance that somewhere in the 10% of the projects that survive lies a gem that ends up providing a 10x, 100x, or even 1000x return on investment," he said.
Overall, his thoughts are very much in line with the other traders in the crypto community which now recommend investing only in the cryptocurrencies one can afford to lose and building the portfolio around high-cap coins such as Bitcoin and Ethereum.
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Altcoin News

Mayor Of Chicago: Cryptocurrency Will Save Countries From Financial Crises

A new report featured in Forbes is in the latest digital currency news, outlining the statement of the Chicago Mayor Rahm Emmanuel - who was the former Chief of Staff for the President Barack Obama. As the post unveils, Emmanuel told a writer that the future for cryptocurrencies like Bitcoin is "affirmative." In detail, the Chicago Mayor spoke about the potential that cryptocurrencies have to play a serious role in the debt markets as well as the third world countries - especially where currencies can be unreliable. Even though Emmanuel does not know the entire operation of crypto, he remains positive that it could reshape the financial aspects of society. As he said:
“The trend lines are affirmative for its future. I don’t know if that’s ten years, and I don’t know if that’s 20 years, but it’s affirmative. I don’t know what it is. I know it’s an alternative way to trade, and therefore, I gotta learn about it, and I gotta be honest, as mayor, it’s not the top 100 things I would have to learn about.”
Emmanuel also noted that the nation states are falling apart while the "city states are emerging." This is why Chicago and other major cities have their own wage laws, some of them even have their own income taxes and many other different regulations. In times when countries like Iran and Venezuela are facing financial embargoes, cryptocurrency can be a possible way to maintain global transactions, according to Emanuel.
"Nation states are falling apart, or receding. City states are emerging, so the political structures we all grew up under are changing. One day, somebody's going to figure out - whether that's Argentina, ten years from now, five years from now - how to use cryptocurrencies to stay alive when their facing a financial crisis, and then you're going to find out that this moment has arrived," he confidently said.
To sum things up, Emanuel said that he believes that "an alternative way of currency dealing with the debt markets is going to happen" at some point in the future.
The trend lines are affirmative for its future. I don't know if that's ten years, and I don't know if that's 20 years, but it's affirmative. I don't know what it is. I know it's an alternative way to trade, and therefore, I gotta learn about it, and I gotta be honest, as mayor, it's not the top 100 things I would have to learn about," Emanuel concluded.
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