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After Bitcoin [BTC]’s hike, Stellar Lumens [XLM], Cardano [ADA] and EOS [EOS] emerge as biggest gainers

Anirudh VK

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After Bitcoin [BTC]'s hike, Stellar Lumens [XLM], Cardano [ADA] and EOS [EOS] emerge as biggest gainers
Source: Unsplash

The cryptocurrency market recently saw a positive rally, with an infusion of $20 million into the total market cap. Bitcoin [BTC] started off the chain reaction with a break into the $7000 resistance, now posting a 10% growth in the past 24 hours. The market followed suit, with the final list of losers and gainers showing surprising results.

1. Stellar Lumens [XLM]:

Stellar Lumens posted the highest growth rate of 24.9% in the past 24 hours, now trading at $0.29. With a rally from $0.23 to $0.25 yesterday, the coin now sits at a market cap of $5.5 billion. The cryptocurrency is ranked at #6 by the total market cap.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

The coin’s highest point this week was at $0.29, which occurred after the rally to $0.28. Lumens lowest point in the past week was at $0.18 on 12th July, where the market was at a low state. Notably, XLM was one of the 5 coins included in Coinbase’s announcement of a potential listing. After the news, the coin pumped in a slow rally to $0.23 before yesterday’s hike.

2. Cardano [ADA]:

Another surprise entry into the top of the list is Cardano’s ADA currency, coming in second with a 24-hour growth rate of 17.84%. The coin is currently trading at $0.17 after yesterday’s rally drove the price from $0.15 to a high of $0.18. It is ranked #8 on CoinMarketCap, with a market cap of $4.7 billion.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

The coin saw a slow rally to $0.15 over the week from a low of $0.12 on 13th July. It was also one of the tokens that was mentioned by Coinbase. The week was filled with information software updates dispensed by Charles Hoskinson, the founder of Cardano.

3. EOS [EOS]:

Dan Larimer’s dPoS blockchain system’s token came in the third place for the highest price growth after yesterday’s rally, with a rise of 11.88%. The coin’s price grew from $7.99 to $8.80, reaching a high of $9.17. This comes after its low of $6.70 on 13th July. The coin is sitting at #5 by total market cap, with a value of $7.9 billion. EOS saw a rally last week from $7.32 to $8.07 on 16th of July.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

Last week was filled with big news for EOS, with investments received into Block.one by Bitmain and Peter Thiel. Amongst this, the coin saw accusations of the EOS community manipulating gas prices on the Ethereum [ETH] blockchain.

4. Bitcoin [BTC]:

The first cryptocurrency that kickstarted the market hike broke the $7000 resistance with abandon, with a current price of $7423. With a total market cap of $127 billion, the coin is currently dominating 43% of the market.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

The cryptocurrency saw a low of $6140 on 13th last week, with a slight rally seen on 16th from $6379 to $6610. This week was filled to the brim to bullish news on Bitcoin, from the announcement that Blackrock was moving into the crypto space to the appointment of a Bitcoin-friendly CEO to Goldman Sachs. Billionaire Steve Cohen also invested in the coin through a hedge fund.

5. Bitcoin Cash [BCH]:

Bitcoin Cash saw a growth in the price of 9.38% in the last 24 hours, rising from $795 to $863 during yesterday’s hike. From a high of $881, the coin is currently trading at $869. It is ranked #4 on CoinMarketCap with a market cap of $14.9 billion.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

The cryptocurrency saw a hike from $730 to $780 on the 16th of July. There was a proposal submitted by Bitmain for a smart contract system on the platform during the week, with Craig Wright also acquiring 3 patents for Digital Rights Management on the Bitcoin Cash blockchain. Robinhood also added support for the trading of the coin with 0% trading fees.

6. Litecoin [LTC]:

Litecoin is trading at a price of $91.41 after yesterday’s hike up to $90 from $84. The coin hit a high of $93.51 and is currently ranked #7 on CoinMarketCap.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

The low hit by the coin last week was at $75 on 13th of July, followed by a slight rally from $79 to $84 on 16th. This week, Litecoin and TokenPay entered into a partnership for a 10% stake in the Swiss bank known as WEG.

7. XRP [XRP]:

XRP saw a hike of 8.06% over the day after its rally from $0.47 to $0.51, where it is currently trading. Over the last week, it saw a low of $0.42 on 13th, and currently has a market cap of $20 billion while being ranked at #3.

XRP saw a listing on SBI’s Virtual Currencies exchange platform as a result of its partnership with the group. It was also spoken about during Ripple’s circuit of conferences.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

8. Tron [TRX]:

Justin Sun’s wonder coin saw a growth of just 8% during the hike, seeing a rise from $0.038 to $0.04, which was its high point. Over the week, it saw a slow rally to $0.039 after a low of $0.03 on 13th. It is currently ranked at #11 on CoinMarketCap with a market capitalization of $2.6 billion.

Over the week, Tron saw a coin burn of 100 billion tokens with the third batch of burning taking place yesterday. The token also resumed trading with 20 exchanges and still counting.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

9. IOTA [MIOTA]:

IOTA saw a growth of 6.42% over the hike, with a current price of $1.13. It is currently ranked at #9 with $3.1 billion in market cap. After a low of $0.93 last week, the coin saw a hike to the high of $1.16 yesterday.

During the price rise, the coin rose from $1.09 to $1.15, with a previous hike from $0.99 to $1.07 on the 16th of July.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

10. Ethereum [ETH]:



The second largest cryptocurrency saw the least to gain from yesterday’s hike, with a growth of only 5.59% during the hike. It went up from a price of $473 to $508, with a high of $51. It is currently trading at $499.

It saw a rally last week from $452 to $473 on 16th from a low of $424 on 13th. A hedge fund recently recommended shorting Ethereum, which contrasts with the news of Steve Cohen investing in the cryptocurrency. EOS and Ethereum were in a flame war over the week with multiple accusations of gas price manipulation.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

Bitcoin

Bitcoin [BTC]: 60 Minutes segment airs on CBS; market relieved over no FUD content

Priya

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Bitcoin [BTC]: 60 Minutes segment airs on CBS; market relieved over no FUD content
Source: Unsplash

Bitcoin [BTC], the largest cryptocurrency in the world has gained a lot of mainstream media attention over the years. However, most media houses have often failed to deliver the message to the masses, with the main reason being lack of research and knowledge of the subject. The cryptocurrency was thrown back into the spotlight after CBS released a teaser to their latest “60 Minutes” episode, unveiling a few influencers of the industry, speaking about their experience.

The episode, which released on 19 May 2019, immediately grabbed the attention of the cryptocurrency space, with a majority wondering whether the media channel would nail it or fail it. Interestingly, there was a poll conducted on Bitcoin Talk, where the question was ‘CBS 60 Minutes 5/19/19 on Bitcoin. Will it cause FOMO or FUD?’

Source: Bitcoin Talk

Source: Bitcoin Talk

60 Minutes, broadcast on the CBS Network is one of the oldest and most-watched American television programs, with the focus being “the real story on America’s most prevalent issues”. According to CBS, 60 Minutes has an average of 11.4 million viewers and about a million people who listen to its radio broadcast and podcast.

The show titled ‘Bitcoin’s Wild Ride’ aired hours ago, and covered the story of Charlie Shrem, the founder of BitInstant, Laszlo Hanyecz, the famous pizza guy who is recognized as the first person to make a real-world transaction with Bitcoin, and Marco Streng, the CEO of Genesis Mining. The segment also had Neha Narula, the Director of Digital Currency Initiative at MIT Media Lab, answering questions pertaining to the coin, and Lael Brainard, a member of the US Federal Reserve, speaking about why not Bitcoin.

The show was briefly explained by a Redditor, EternitySphere,

Source: Reddit

Source: Reddit

Unlike other mainstream Bitcoin segments, this segment was well-received by the Bitcoin community after a majority agreed that it did not spread FUD and that it was an unbiased episode, contrary to expectations. However, there were few concerns pertaining to a lack of content, with some believing that it failed to explain key information; which includes how it derives it value, albeit there was no FUD.



Franky1 commented on Bitcoin Talk,

“[…] next was the whole describing mining segment involving genesis mining.(facepalm) ASIC’s do not store records(asics have no hard drive).. so saying the mining done by genesis is the location where records are kept can be misguiding people to think genesis mining are ‘the bank’ and user software just ‘watches the numbers and letters'[…]”

Source: Reddit

Source: Reddit

Rdbase also remarked on the Bitcoin forum,

“The whole segment was about charlie shrem known as bitcoin moses and his fall into bad luck with taking a payment which was used to buy illegal things on the dark web. It did have some good points but overall it was just directed towards the public view about it. As a skeptical thing to use and banks were safer with its fiat financial system”





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