The past 24 hours were positive for cryptocurrencies. The price of Bitcoin has increased for a couple of percents and went from $6,400 to $6,700, recording an increase in its daily volume. With this, the valuation of the total market cap rose from $210 to $215, adding $5 new billion in the price mostly from the surge in the price of tokens.
Speaking of, some of the tokens that stole the show with their surges included the Ethereum-based tokens such as Aion, ICON, and Wanchain which all recorded solid gains (from 10% to 20%) against the US dollar and Bitcoin, showing decent momentum.
The five largest cryptocurrencies by the total market cap which include Ethereum, Ripple, Bitcoin Cash and EOS (with Bitcoin as the first one) have all struggled to demonstrate a major recovery in the volume and price. Aside from Bitcoin’s gains – which we mentioned before – the rest of the top 5 altcoins closed the day with minimal (0.3% to 1%) gains.
Currently, the analysts hope that Bitcoin will finally surpass the (crucial) $7,000 mark. Even though it may take some time for the major cryptocurrency to do this, BTC will likely initiate a surge in the short-term.
Right now, it is more likely for Bitcoin to test the $7,000 mark in the next couple of days – rather than to drop back to the lower end of the $6,000 region. Still, there are investors that expect another correction before Bitcoin initiates a mid-term rally.
Major Altcoin Rise: Cardano, Stellar And Zcash With Gains Prior To Coinbase Listing
The Story Of BAT: How And Why It Lost 28% Overnight Despite Coinbase Listing
“Starting today, Coinbase supports the Basic Attention Token (BAT) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, send, receive, or store BAT, along with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, ZRX and USDC.”The decline in the price of BAT was abnormal because of the integration. Similar to the case of ZRX and its dump following the listing of Coinbase, analysts think that these integrations demonstrate the typical 'buy the rumor and sell the news' moves by investors in the cryptocurrency market. To sum things up, the price of BAT is very likely to have undergone major pressure as more investors seek to profit from it on short-term events.
The ‘NEO Super’ Fork: A Scam Or A Promising Blockchain?
“Because with a closer look at their LinkedIn pages you can easily tell that they are each fake.”If you see it, the CEO and lead developer of this project John D. Martin has only three connections on LinkedIn despite his alleged seven-year development career. And even though there is no whitepaper for the project, there is a nice looking website and a clone of other NEO wallet services. On top of this, the NEOX whitepaper clearly says:
“A lot of misunderstanding and incorrect representations surround the question of NEO forks. To put it simply, NEO cannot be forked in the same way as Bitcoin or Ethereum — that is, there is no way to split the chain and create a new coin based on NEO.”To sum things up, this project is very confusing to declare it a scam outright - and very unknown and confusing to necessarily recommend. We'll keep a close eye on it in the future and notify you if there were any drastic changes.
Crypto Wipe-out: The Global Crypto Market Lost $6 Billion In The Past 48 Hours
“While many tokens have recorded gains in the range of 5 to 20 percent over the last week, regulatory uncertainty around tokens and their regulatory nature could lead to a decline in the value of tokens in the weeks to come.’’
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