A Successful Binance DEX Mainnet Could See Binance Coin (BNB) Prices Double

 

Binance coin up 17.1 percent in the last week

Testnet launch live, users free to test the DEX and Binance chain explorer

Transactional volumes double from Dec 2018

 
BNB is back to the top 10, and with increasing volumes and DEX and explorer test net, coin holders are likely to reap big profits. So far, Binance coin is up 17.1 percent and back to the top 10.
Binance Coin (BNB) Price Analysis
Fundamentals
Like Ethereum’s ETH, Binance Coin is a utility token in the Binance chain network. It is a tool for incentivizing use and so far, the coin is rallying. Perhaps induced by the overly successful BitTorrent’s BTT ICO, the currency is retesting key resistance levels of 2018.
Adding to the bullish impetus is news that both the Binance Coin and the Bitcoin DEX testnet is now open to the public. The new release will allow testing of the Binance Coin chain explorer as well as the Web Wallet. Binance said this about the new testnet:
“Binance Chain is a new blockchain developed and released by Binance. Binance DEX is a high performance and user-friendly platform built on top of Binance Chain, where users can create, issue and trade digital assets.”
To get started in what Binance describes as a standard for DEXs, all a user needs to do is set up a new wallet, unlock the wallet, transfer assets and place orders right away.
The eventual launch of the mainnet will be very bullish for Binance coin as users of the Binance DEX will have to pay for gas to power transactions. Gas and fees are quoted in BNB only and assuming there is an immediate shift from centralized exchanges to unhackable Binance DEX–with better liquidity and UIs, then BNB holders stand to benefit.
Candlestick Arrangements

Thus far, the coin is up 17.1 percent in the last week. Aside from favorable candlestick arrangement, the sole reason behind this week’s expansion may be because of DEX testnet. As we said, Binance is yet to announce the mainnet launch, but from the chart, the path of least resistance is upwards.
A simple Fibonacci retracement tool between the BNB’s high low show that prices are finding support off the 78.6 percent level and with increasing volumes, bulls are back. Technically and when we draw guidance from Fibonacci retracement rules, the reaction at 78.6 percent level often leads to a retest of recent highs and in that case ideal targets may be 2017 highs of $26. All the same, before BNB explode, modest targets will be at Q2 2018 highs of $18.
Technical Indicators
 
Week ending Feb 10 bull bar reversed losses of the week ending Nov 25. Accompanying these upswings are increasing average volumes–7 million to 15 million and wide trade ranges which is bullish. Although we expect prices to cool off, ideal reversal zones will be at around last week’s lows of $8.5. However, such deep corrections are unlikely. Sellers may drive prices back to the $10 level before bull trend resume.
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You Can Now Check Out Binance’s New Decentralized Trading Platform as Public Testing Goes Live

CoinSpeaker

You Can Now Check Out Binance’s New Decentralized Trading Platform as Public Testing Goes Live

Binance launched its much expected decentralized exchange (DEX) to increase security and efficiency of its services and the markets love it with the BNB coin appreciating by over 75% within days.

You Can Now Check Out Binance’s New Decentralized Trading Platform as Public Testing Goes Live

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Source: CoinSpeaker

Binance Coin Controversy: Love it or Hate it BNB Keeps Climbing

As expected when a two day rally occurs on crypto markets there is the inevitable correction. Total market capitalization and daily volume has fallen back as day traders take profits and top performing crypto assets start to cool off and fall back. There are a couple however that are defying this much repeated market movement and continuing to climb at the moment.
Binance Coin Crushing the Competition
The crypto asset holding above the rest and continuing to surge at the time of writing is Binance Coin. In less than a week BNB has made and held an epic 30% climbing from less than $8.50 last week to $11 before dropping a little to today’s price just below it. On the day BNB is up 13.5% as it outshines every other altcoin in the top fifty.

Binance Coin: Which bear market?
New ATH while everybody else is scraping the bottom. Have to say I missed on this one, mostly because I was listening too much FUD. $BNB pic.twitter.com/eG5rEGzEWF
— johnyqi (@JohnyQi) February 19, 2019

Daily volume has surged from $80 million to over $134 million, most of that over the past 12 hours. With Binance being the top exchange it stands to reason that BNB would possibly act like a stablecoin when traders are taking profits. If their trades are taken in BNB pairs, its volume and price will increase when they’re pulling out of other coins, which is what has been happening over the past few hours. Some have tried to decipher the controversy surrounding BNB with lengthy tweets;

0/ There has been a lot of controversy and confusion around $BNB (Binance Coin) recently. This isn't unwarranted considering it doesn't look like traditional tokens/financial instruments. In this thread, I will attempt to elucidate
— Andrew Kang (@Rewkang) February 17, 2019

Not all are convinced about Binance Coin though with some observers calling it a ‘manipulated Ponzi scheme controlled by one man’ on twitter. Others are equally critical of BNB labeling it as a centralized security token;

Reminder that BNB is a centralized security token for an exchange that is actively breaking US laws. You also have to trust that binance is reporting their financials accurately.
BNB could become worthless without warning due to gov action, exit scam, fraud, or theft.
— Matt Odell (@matt_odell) February 13, 2019

Either way Binance Coin is one of today’s top performers and since the beginning of the year has made a staggering 83% gain.
Stellar Flips Tron Showing Small Gains
Stellar has been losing momentum for quite a while now as it slipped down the market cap charts. Today however it has regained a place, flipping Tron for eighth spot at the time of writing.

With a further 5% gained on the day XLM has reached $0.088 with a market cap of around $1.68 billion, enough to pass TRX which is currently on $1.65 billion as it loses 1.5% in the correction. Tron has enjoyed a lot of momentum recently and has been one of the top performing altcoins this year with a gain of over 30% since January first. Stellar on the other had has been in decline, losing 22% in the same period. Stellar has a strong dev team with a lot of project updates so the lack of momentum recently is a little perplexing.
Maker is the other crypto asset that has shown impressive gains in recent weeks, climbing a further 10% on the day and 23% since the same time last week.
Image from Shutterstock
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Binance Coin [BNB] biggest gainer in the top 10 as Stellar Lumens [XLM] overtakes Tron [TRX]

The cryptocurrency market saw a massive pump on 19 February, with over $10 billion added to the collective market cap and coins like Ethereum [ETH], EOS and Bitcoin Cash [BSH] skyrocketing ahead. The top cryptocurrency Bitcoin also surged past the $3,900 mark for the first time since January. However, as the bulls began to subside and the correction ensued, only a few coins managed to ride the green wave and among them, were Binance Coin [BNB] and Stellar Lumens [XLM].
A new entrant into the top 10, Binance Coin has yet again surged ahead, just two weeks after another isolated rise saw it overtake Bitcoin SV [BSV] to break into the elites.
Binance Coin is currently trading at $10.81, a whopping 17.21 percent increase compared to its price at the beginning of the week. This price bump is not a recent phenomenon for the coin, as BNB’s price has been on a strict uptrend since the beginning of the month when it was priced at $6.19. Since the start of February, the coin has been riding a bullish wave surpassing heavyweight coins like Cardano [ADA], Monero [XMR] and Bitcoin SV [BSV].
In terms of market capitalization, the coin has seen a massive uptick since the month began. On February 1, BNB’s market cap was valued at just under $800 million and within six days, the coin broke past the elusive $1 billion mark. Since then, the coin has managed to add over $500 million to its market cap. At press time, the market cap of the coin stands at $1.52 billion.
Binance Coin finds the majority of its trading volume on its native exchange Binance, via the following trading pairs, BNB/USDT and BNB/BTC, accounting for $54.81 million or 10.82 percent and $33.34 or 24.71 percent BNB trade volume respectively. Taking the third and fourth spots is P2PB2B, via the trading pairs, BNB/BTC and BNB/USD.
Source: Trading View
Stellar Lumens has also managed to make significant strides in the market. The coin saw its worst decline for over a year at the end of January when the market cap slipped down to $1.59 billion and the price fell by over 31.26 percent in just one month. Following its recent surge, however, Stellar Lumens has overtaken Tron [TRX] to take the eighth spot on the market as the latter declined against the US dollar by 1.42 percent. The gulf in terms of the market cap between the two coins currently stands at just above $30 million.
XLM is still recovering from the January low but has managed to keep its head above the water as surrounding coins begin to drown. The coin has risen against the US dollar by 5.23 percent, second only to the aforementioned Binance Coin. Stellar Lumens is currently trading at $0.0883, a massive 11.6 percent price increase since the beginning of the week.
The market cap of the coin has surged to $1.69 billion. However, the signs are not all positive for Stellar Lumens as market movements point to a bearish wave with the market cap falling from an earlier high of $1.73 billion.
Source: Trading View
The post Binance Coin [BNB] biggest gainer in the top 10 as Stellar Lumens [XLM] overtakes Tron [TRX] appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Market Wrap: A Few Survivors As Markets Correct

Market Wrap
Crypto markets starting to pullback; BNB, Maker and Stellar are keeping in the green, BCH, and Ethereum starting to slide.
Crypto markets have started to correct as expected after a two day buying bonanza. Volume and market capitalization has pulled back a little as traders start taking profits. The next few days will be crucial in determining if recent gains can hold.
Bitcoin hit resistance in an intraday high at $4,010 a few hours ago and, as predicted, pulled back to $3,940 where it currently trades. This is pretty much where BTC was yesterday after testing the same resistance level indicating further losses could be coming soon.
Ethereum, after a very strong rally, has dropped 3% on the day as it corrects. ETH is currently trading at $142 and the gap to third has decreased back to $1.6 billion. XRP has remained stable on the day and is still at $0.323.
In the top ten, Binance Coin is running away with it as a further 12% is added on the day. BNB touched $11 before falling back to $10.80 where it currently trades. The only other altcoin defying the pullback is Stellar which has made 4% enabling XLM to flip Tron for eighth place. The rest are in decline with Bitcoin Cash dropping the most at 4%, back to just above $140.
Most altcoins are also correcting in the top twenty during today’s Asian trading session. One making an opposite move is Maker which has had a lot of positive momentum lately. MKR has added a further 8% on the day moving ahead of NEO in sixteenth to trade at $620. Everything else is dropping a percent or two.
Storj has entered the top one hundred with a fomo driven pump of 15% at the time of writing. WAX is up and down like a yoyo, today pumping again with 13%. Binance Coin is the other top performer at the moment. There is only one double digit dump with REPO dropping 11% at the messy end of the table. ODEM is also having a bad day with a 9% dump.

Total crypto market capitalization is holding above $130 billion but falling back slowly. After hitting a peak of $136 billion markets are now in decline as volume shrinks back to $30 billion during the selloff. Since last Wednesday markets have made 9% but the big question now is will these gains hold or is a big dump about to start again.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
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Crypto Market Eyes Additional Gains: BNB, EOS, Bitcoin Cash, Tron (TRX) Analysis

The total crypto market cap traded towards the $132.5B level and later corrected lower.
EOS price traded above the $3.50 resistance and it is currently consolidating gains.
Binance Coin (BNB) rallied more than 10% and broke the $10.00 resistance area.
Bitcoin cash price is placed nicely above the $140 support, with a bullish bias.
Tron (TRX) price failed to stay above the $0.0250 support and later declined.

The crypto market started a downside correction, but it remains supported. Dips in bitcoin (BTC), Ethereum (ETH), Binance coin (BNB), BCH, ripple, EOS, TRX and ADA are likely to find buyers.
Bitcoin Cash Price Analysis
Bitcoin cash price gained traction recently and broke the $135 and $140 resistances against the US Dollar. The BCH/USD pair even traded above the $145 level and later started a downside correction. On the downside, the key supports are near $142 and $140, below which the price might test the $135 support.
On the upside, an initial resistance is near the $145 level, above which the next hurdle for buyers is at $148 and $150. In the short term, there could be range moves, but the price is likely to gain further above $145.
EOS, Tron (TRX) and BNB Price Analysis
EOS price gained a strong bullish momentum above the $3.00 resistance area. It broke the $3.25 and $3.50 resistance levels to register heavy gains. At the moment, the price is consolidating above the $3.50 support, with resistances near the $3.62 and $3.70 levels.
Tron price moved above the $0.0250 resistance level, but it failed to hold gains. TRX price topped below the $0.0255 resistance and later declined below the $0.0250 support. The price is down more than 2% and it seems like it could retest the $0.0245 support area in the near term.
Binance coin (BNB) rallied recently above the $9.50 and $10.00 resistance levels. BNB price gained more than 10% and even surpassed the $10.50 resistance. The next major hurdle for buyers is near the $11.00 level, above which the price might eye a test of the $12.00 level.

Looking at the total cryptocurrency market cap hourly chart, there was a strong upward move above the $120.0B and $125.0B resistance levels. The market cap even broke the $130.0B resistance level and tested the $132.5B level, where it faced resistance. Later, it started a downside correction and declined below $130.0B. However, there are many supports near $126.0B, $125.0B, and a bullish trend line on the same chart. Therefore, as long as the market cap is above $125.0B, dips in bitcoin, ETH, tron, litecoin, EOS, ripple, ADA, stellar, BNB, BCH, XMR and other altcoins remain supported in the coming sessions.
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Ethereum Price Jumps More Than 10% on All-Green Crypto Monday

CoinSpeaker

Ethereum Price Jumps More Than 10% on All-Green Crypto Monday

The overall cryptocurrency market posts steady recover on Monday with Ethereum taking the lead by surging over 10%. Take a look if today’s surge sets up the base for the long term recovery.

Ethereum Price Jumps More Than 10% on All-Green Crypto Monday

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Source: CoinSpeaker

Crypto Market Wrap: Could Binance Coin Flip Stellar (XLM) Soon?

Market Wrap
Crypto markets continue consolidating; Litecoin back in fourth, BNB, XLM and NEM moving, Maker falls back.
Movements have been minimal on crypto markets as we round out another week. The good news is that gains made this time last week have held for now but signs of further upward motion have not materialized. Total market capitalization has remained over $120 billion as the consolidation continues.
Bitcoin is range bound in a very tight channel at the moment between $3,600 and $3,650. It has not changed in price since the same time yesterday but has consolidated above support levels so could move higher in the short term.
Ethereum is still flat at $123 with zero movement over the past few days. Momentum is expected as Constantinople draws closer next week. XRP is holding $0.30 and also range bound, the gap between the two remains at $300 million.
There is not much to report in the top ten during the day’s Asian trading session. Litecoin has re-flipped EOS and taken fourth place back with a 2.5% gain to $43, though the gap between them is negligible. Binance Coin is yet again the top mover here with 4% added and a rare blip by Stellar has sent XLM up 2.5% on the day – the gap between the two is now only $200 million.
NEM has made the biggest move in the top twenty with 5% as the organization restructures and moves forward with the project. Very little else is going on and a few such as Monero, Maker, and Zcash are falling back 3% or so.
Crypto.com’s MCO token its getting today’s fomo spike with a 26% jump as Singaporean crypto credit cards gather steam. Tezos is also having a good Friday with 8% added on the day. At the red end of the top one hundred is MOAC dumping 10% and yesterday’s pumped Komodo dropping 7%.

Total market capitalization dipped back to $119 billion but has recovered to the same level as yesterday, $120 billion. The sideways motion continues and there is very little going on with markets at the moment. Gains made in last Friday’s big pump have held for the week leaving markets at the same place they were this time last month.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
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Crypto Market at Key Turning Point: BNB, EOS, Bitcoin Cash, Tron (TRX) Analysis

The total crypto market cap seems to be struggling near the $118.0B and $119.0B resistances.
EOS price started a downside correction and declined below the $2.85 support level.
Binance Coin (BNB) is performing nicely and it is currently up around 2.5% to $9.20.
Bitcoin cash price is currently consolidating above the $122 support level.
Tron (TRX) price broke a key support and settled below the $0.0250 level.

The crypto market is facing an uphill task, with bearish moves. Therefore, there is a risk of bearish reaction in bitcoin (BTC), Ethereum (ETH), Binance coin (BNB), BCH, ripple, EOS, TRX and ADA.
Bitcoin Cash Price Analysis
Bitcoin cash price struggled to stay above the $125 resistance level and later declined against the US Dollar. The BCH/USD pair moved below the $124 level and tested the $122 support. The pair is currently consolidating above the $122 support, with the next immediate support at $120.
If there is a fresh upward move, the price could face a strong resistance near the $125 level. On the downside, a break below the $120 support level might spark heavy bearish moves in the near term.
EOS, Tron (TRX) and BNB Price Analysis
EOS price rallied recently and traded towards the $2.95 and $3.00 resistance levels. Later, it started a downside correction and traded below the $2.85 and $2.80 support levels. The next key support is near $2.75 and $2.72, where buyers are likely to emerge.
Tron started failed to stay above the $0.0270 and $0.0265 support levels. TRX price declined recently and broke the $0.0255 and $0.0250 support levels. The price is currently trading near the $0.0240 level, with an immediate support at $0.0235. The main resistance is at $0.0255 (the previous support level).
Binance coin (BNB) performed really well in the past few days and rallied above the $8.00 and $9.00 resistance levels. BNB even traded above the $9.50 level and later corrected lower. The price is currently trading above $9.10 and it seems like it could revisit the $9.50 resistance in the coming sessions.

Looking at the total cryptocurrency market cap hourly chart, there was a downside correction from well above the $120.0B level. The market cap declined below the $118.0B support and tested the $115.0B support. It is currently consolidating in a range, plus facing a strong resistance near the $118.0B and $119.0B levels. As long as the market cap is below the $118.0B and $119.0B levels, there is a risk of a downside reaction. On the downside, a break below the $115.0B support could spark bearish moves in bitcoin, ETH, tron, litecoin, EOS, ripple, stellar, litecoin and other altcoins in the near term.
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Binance Set to Release Its Decentralized Exchange for Public Testing Next Week

CoinSpeaker

Binance Set to Release Its Decentralized Exchange for Public Testing Next Week

CEO of Binance has announced the date when their new decentralized platform called Binance DEX will be launched for public testing.

Binance Set to Release Its Decentralized Exchange for Public Testing Next Week

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Source: CoinSpeaker

Mike Novogratz: All the Big Macro Funds Should Hold at Least Small Percentage in Bitcoin

CoinSpeaker

Mike Novogratz: All the Big Macro Funds Should Hold at Least Small Percentage in Bitcoin

Mike Novogratz, the chief executive of the TSX-listed Galaxy Digital, made a surprising remark that came straight out of left field saying that he doesn’t understand why large macro funds don’t have a 1% position in Bitcoin (BTC).

Mike Novogratz: All the Big Macro Funds Should Hold at Least Small Percentage in Bitcoin

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Source: CoinSpeaker

Crypto Market Wrap: Dash Moving Up as Markets Stabilize

Market Wrap
Crypto markets have stabilized and there is little action; Binance Coin and Dash are still heading up, Bytecoin is dumping.
The big crypto market pump on Friday and Saturday ran out of steam yesterday and things have been pretty static ever since. Total market capitalization has stabilized at this new level above $120 billion for now and a new direction has yet to be formed.
Bitcoin spiked a couple of hours ago to hit resistance at $3,700 before bouncing right back off of it. BTC has pulled back to where it has traded for much of the past 24 hours, $3,650. Daily volume is slightly higher at $6.4 billion but things are holding steady at this level for now.
Ethereum is still gaining slowly and has finally surpassed XRP to take second place. ETH hit an intraday high of $125 before falling back to $120 where it currently trades, still up a percent or so on the day. XRP conversely has fallen back 1.5% dropping to $0.305 and shedding market cap enabling the ETH flip. The two are still very close though with the current gap at just over $100 million.
There has been little movement in the top ten over the past 24 hours. Binance Coin continues to strengthen and has added a further 3% on the day taking BNB to $9.40. It is now less than $200 million away from Stellar in ninth which keeps sliding. Litecoin has remained strong and is currently just over $44 and clear of EOS in fifth.

Dash is the top performer in the top twenty at the time of writing with 6% to $78 on the release of Dash Core v0.13.1. Maker has flipped both Ethereum Classic and NEM as it takes 17th place and Waves is about to enter the top twenty with a 4.5% gain. Monero and IOTA are both falling back a couple of percent.
Ark is getting the fomo treatment at the moment as it pumps 26% as the team updated their mobile wallet adding dynamic fees. Ark is the only altcoin in double digit gains at the moment. There are no big dumps going on during the day’s Asian trading session but those at the red end of the top one hundred include Bytecoin and Chainlink.
Total crypto market capitalization has remained above $120 billion since late Friday’s $10 billion cash injection. Very little has occurred over the past 24 hours however volume has increased to over $20 billion indicating another move could be coming soon. Bitcoin dominance is just below 53% at the moment as markets stabilize once again.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
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Crypto Market Update: Binance Coin (BNB), Bitcoin SV, Tron (TRX), ADA Price Analysis

The total crypto market cap recovered recently, but it could struggle near the $108.50B resistance.
Binance coin (BNB) extended gains and traded above the $8.00 resistance.
Bitcoin SV price gained more than 8% and broke the $60.00 resistance area.
Tron (TRX) is slowly moving higher towards the $0.0265 resistance level.
Cardano (ADA) price is currently consolidating above $0.0350 and $0.0360.

Binance coin (BNB) and bitcoin SV performed really well recently. However, the crypto market, bitcoin (BTC), Ethereum (ETH), TRX, ripple, ADA and others might continue to struggle.
Bitcoin SV Price Analysis
After a steady, bitcoin SV found support near the $50 level against the US Dollar. After trading in a range for some time BCHSV/USD started an upside move above the $58 resistance. The price gained traction and rallied more than 8% to settle above the $60 resistance.
It is currently trading above the $62 level and it seems like it could continue to move higher towards the $65 and $70 resistance levels.
Binance coin (BNB), Tron (TRX) and ADA Price Analysis
Binance coin price extended gains after it broke the $6.00 and $6.50 resistance levels. BNB price broke the $7.50 and $8.00 resistance levels as well, opening the doors for a push towards the $9.00 or $10.00 resistance.
Tron price traded within a tight range above the $0.0250 support level. TRX might gain traction and it could climb towards the $0.0265 and $0.0272 resistance levels. The main supports on the downside are $0.0255 and $0.0250.
Cardano price declined in the past few days and settled below the $0.0380 support level. ADA tested the $0.0360 support level and it is currently consolidating losses. On the upside, there are many resistances near $0.0372 and $0.0380.

Looking at the total cryptocurrency market cap hourly chart, there was a sharp decline toward the $106.5B support level. Later, the market cap recovered and corrected above the $107.0B and $107.5B levels. However, there is a strong resistance formed near $108.5B, $109.0B, and a bearish trend line on the same chart. Therefore, upsides are likely to remain capped in bitcoin, Ethereum, ADA, ripple, tron, XLM, litecoin and other altcoins in the short term.
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All Change In Crypto Market Cap Charts as Another Dump Begins

The top cryptocurrencies by market capitalization is an ever shifting list as new winners emerge to usurp yesterday’s champions. Another market dump appears to have initialized shaking up the order of things in this crypto chart once again today.
Ripple Extending Lead, BNB Surging, Cardano and Stellar Sliding
Ethereum has suffered heavier losses than its brethren lately which have resulted in a dwindling market cap as its price approaches $100. Today’s plunge has sent ETH a further 3.5% down as it dumped to $103.5 in one big dive a couple of hours ago. At this rate Ethereum will be in double figures again by the end of the week, back to mid-December or May 2017 prices. Some, however, have predicted the opposite using fractal patterns to indicate an upswing for Ethereum.
Ripple’s XRP token has again weathered this recent purge a little better, only dropping 2% to remain at around $0.29. This has increased the gap between the two to $1.2 billion as the market cap of Ether shrinks back to $10 billion. There have been reports of an inflated market cap for XRP but at the current time Coinmarketcap.com is reporting it to be just over $12 billion.
EOS is just above Tether in fourth at the time of writing but this is likely to change if the selloff accelerates. Bitcoin Cash and Litecoin are battling for sixth spot, as both have a market cap of just below $2 billion at the moment. BCH usually falls harder as it has done today dumping 4.7% over the past 24 hours.
Tron has held on to eighth spot as TRX has been one of the best performing altcoins this year. Momentum has largely come from the BTT token sale and associated airdrops. Even with today’s loss of 3.6% TRX is up over 35% since the beginning of the year while all those around it have declined.
Cardano has been dumped right out of the top ten back down to twelfth spot as it gets flipped by Binance Coin. BNB is the only altcoin in the green at the moment with a 14% gain boosting its market cap to just over a billion dollars. This has allowed it to take over from Bitcoin SV also which has been heading downward since its birth a couple of months ago. BNB is now a top ten crypto in that elusive group of billion dollar coins.
A new order is forming between the top cryptocurrencies and as it stands TRX and BNB are the clear winners while previous top rated coins such as ADA, XLM and IOTA dump further down the list.
Image from Shutterstock
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January Crypto Roundup: Tron Surged, While Bitcoin Cash, SV, Stellar, IOTA and NEM Dumped

Following the lowest month for over a year in December markets started to recover over the New Year. Progress continued steadily until January 10th by which time markets had recovered almost 40%. The bulls did not stay around for long though as a huge dump wiped out $16 billion in two days sending markets back down towards their lowest levels again. Over the month markets lost 8.6% ending at just over $115 billion total capitalization.

Bitcoin hit a huge wall of resistance at $4,000 which it could not overcome and further losses were predicted. It came as no surprise then when BTC dumped to its next support turned resistance level of $3,600. This broke down before the end of the month sending Bitcoin lower still, ending January 8% down at $3,440.
January Crypto Winners
Litecoin is one of the few crypto assets that ended January higher than it started. LTC only made 3% but it was enough to keep it afloat while those around it crumbled. Litecoin ended January at $31.60 after reaching a monthly high of $40.
Tron surged in January starting out at $0.019 and ending at $0.026. The BitTorrent token launch and associated airdrops to TRX holders has been the primary factor in Tron’s performance and impressive 37% gain over the month.
Binance Coin also ended January marginally higher than it started. BNB was just under $6 on New Year’s day and finished the month 3% higher enabling it to flip Monero and Iota for twelfth spot.
January Crypto Losers
Ethereum’s downward spiral accelerated in January as the long awaited Constantinople hard fork was delayed. ETH got smashed again dumping 20% over the duration of the month to end it battered and bruised at $107 after reaching $160 a week after new year.
XRP losses were less which enabled the Ripple token to extend its lead over Ethereum and hold on to second spot. Starting out at $0.355 XRP ended January 12% lower at $0.311. It made two efforts at recovery but the sellers were just too strong to maintain them.
EOS retracted by almost 10% in January as it fell from $2.57 to $2.32 by the end of it. The only good news is that it moved up to fourth in the market cap chart as losses were greater for the altcoins above it.
Both Tether and EOS have flipped Bitcoin Cash which dumped a whopping 30% in January ending the month at $115. BCH has been one of the largest crashes of all cryptos dumping over 97% since its all-time high.
Stellar has had a rotten time in January dumping 26% to below ten cents. The SDF has made good fundamental progress but that could not prevent XLM dumping down to ninth place in the market cap charts, hitting a new low for 15 months, and ending January at $0.083.
Bitcoin SV seems to have died as quickly as it was born. The BCH offshoot dumped 28% in January ending the month at a lowly $64 after starting it at $90.
Looking at altcoins in the top twenty paints an equally bleak picture for most of them. Cardano, which has lost almost every month over the past year, dumped another 6% as did Monero. Iota took a beating in January dumping 27% and sliding two spots further down the market cap chart. Dash also got bashed with a 14% slide.
NEO dropped 7% in January but it fared much better than Ethereum Classic which dumped 22%. NEM, which is facing major financing woes, dumped 33% over the course of January. Rounding out the top twenty is Zcash which shed 12%. The crumbling market caps has enabled another stablecoin to end the top twenty, Coinbase and Circle’s USD Coin is currently at nineteenth spot with $292 million cap.
The minor recovery from 2018 lows did not last long for most cryptos resulting in them ending January lower than they began it. In summary January’s crypto winners were Tron, Litecoin and Binance Coin while those dumping the hardest were Bitcoin Cash, Bitcoin SV, Stellar, Iota and NEM.
All figures from Coinmarketcap.com
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The post January Crypto Roundup: Tron Surged, While Bitcoin Cash, SV, Stellar, IOTA and NEM Dumped appeared first on NewsBTC.
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