Even though the entire crypto news section is flooded by news about downward trends in the market, the negative sentiment is not seen in every altcoin out there. Aside from Bitcoin and its constant ups and downs, the mayhem in November also produced some nice movements and right now, we are seeing the first signs of buying at lower levels.
What’s certain is that an uptrend move in short span of time is not exactly a reality we will see soon. However, there are many altcoins that are performing solidly and outperforming their competitors. We are listing them below.
Tron (TRX) has overtaken Ethereum as the most popular decentralized application (DApp) platform in the world right now according to analytics. The founder and CEO, Justin Sun, recently said that the cryptocurrency will add privacy features to its network early next year. The company is also establishing a blockchain gaming fund named TRON Arcade – with an investment of about $100 million in the next 3 years.
The TRX/USD pair hasn’t been able to break out of the 20-week EMA since falling below it in early June. The bears broke below the momentum last week and the cryptocurrency is trying to get closer to the $0.01 mark.
Many see Litecoin (LTC) as a failed experiment – but there are also people who believe that the current drop is a massive buying opportunity and that there could be highs in the future for LTC.
The LTC/USD pair witnessed a massive erosion of wealth over the past few months and is now attempting to break through the $28 level which is not seen since mid-June of last year. Still, there isn’t a noticeable bounce for the altcoin since April of this year.
NEM (XEM) is right now the third best performing cryptocurrency over the past week, rising by about 8%. This shows that many buyers are willing to support the XEM/USD pair at lower levels.
If the bullish action succeeds, it will indicate that NEM (XEM) could rally back to the top of the range, closer to $0.13. The moving averages are also flattening out and the RSI is also climbing, suggesting a consolidation in the near term.
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CEO Of Allianz: Regulators Should Step In Harder And Outlaw Cryptocurrencies
“I am personally surprised that regulators haven’t stepped in harder.”He was especially addressing the head of Britain’s Financial Conduct Authority Andrew Bailey who was sitting right next to him at the panel discussion. Bailey noted that Utermann’s opinions were ‘’quite strong’’ but he did agree that cryptocurrencies don’t have intrinsic value. Bailey made sure that the FCA is watching closely and that they have the initial coin offering sector under surveillance. Utermann’s stance doesn’t leave any room for negotiation but some of his colleagues at Allianz are more optimistic about the use of blockchain technology. The chief economist at Allianz Mohamed El-Erian said that he also doesn’t believe that cryptocurrency will ever be able to replace fiat money but they will become more widespread. He said:
“Cryptocurrencies will exist. They will become more and more widespread, but they will be part of an ecosystem. They will not be dominant, as some of the early adopters believed them to be.”El-Erian explained that crypto is not dead and the technology isn’t dead also. He is sure that we are about to see more widespread adoption by the private sector but also from the public one. El-Erian concluded that the last year’s frenzy was ‘’unwarranted’’.
Altcoins Consolidating Above The Yearly Lows, Bitcoin Follows The Recovery Path
Gemini Founders (Winklevoss Twins) Launch A New Mobile Crypto Trading App
“A lot of our decisions have perhaps given off a perception that we’re more institutional-based. The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.”The twins and Gemini founders also revealed their plans to expand to the Asian crypto market where they will face stiff competition from the thriving exchange industry that includes companies such as Bitfinex, Binance and Huobi.
Founder Of TRON Wishes To “Rescue” dApp Developers Working On Ethereum & EOS
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