Altcoins Creating Aura of Influence with Unique Use Cases
EOS, the computing and smart contract platform, has gained more than 450% ever since December 2018. The market cap of EOS is currently at 5.9 billion USD. About 54% of all the EOS cryptocurrency in circulation are staked. The network confirms about 50 transactions per second. The EOS has established increased market access over the past few months.
Stellar Lumens continues to trend in the right direction. The centralized privacy network has attracted a lot of users. The market for XML is bullish. The resistance and support for the token are seen at $0.126 and $0.118, respectively.
The intraday value of TRON fell to unexpected levels. The medium-term price for the coin continues to be bullish. In the past 24 hours, the price of TRON fell from $0.034 through $0.034. The bullish target for the medium term is at $0.06. Following in the downtrend in the price, the degree of price change was drastically different than what was anticipated. The early hours were consistent, but later the price went down to $0.03080 through $0.034. This price decline had several investors bring their investment out of TRON; however, the panic went away later, when the price correction took place.
The price of Ripple shows bullish signs. Ripple has exhibited a decent price recovery from the $0.38 support area. The price was trading about the resistance cap of $0.4000. The price currently shows a positive sign.
While Bitcoin coin continues to lead the cryptocurrencies, several other Altcoins are creating their aura of influence by coming up with unique use cases like the TCAT tokens. Just like a rising tide lifts the boat, so does Bitcoin each time; however, there are a lot of cryptocurrencies, and the profits are moved from one cryptocurrency to the next every time. Several events set the cryptocurrency market on fire, and it is quite possible to exponentially move the capital by working out the probable next trend in the cryptocurrency market.
Big social media giants are doubling down into the cryptocurrency market. Many are waiting for the next all-time high to happen, and others sell off their tokens based on trends and cash out on their profits depending upon the existing market trends.
Google is launching cryptocurrency related search tools. Yahoo is coming up with a new cryptocurrency exchange. Amazon is registering domains. Considering the nascent nature of the market, companies want to contemplate before they step in strong into the cryptocurrency space.
By MAHEEN HERNANDEZ