After maintaining largely stagnant price movement, the collective crypto-market seems to be enjoying a massive run, at press time. Following the news about Bitcoin crossing the $6,000-market, almost all altcoins witnessed a sharp turn of events as the market momentum reversed and pushed the coins by significant amounts to break immediate resistances.
At press time, the top three altcoins painted green were Bitcoin Cash, Litecoin and EOS as they managed to surge by over 5% within a matter of minutes as they followed Bitcoin’s price movement.
Bitcoin Cash [BCH]
Bitcoin Cash, the fourth largest cryptocurrency on CoinMarketCap, was seeing a massive surge of 8.20%, at press time. Following the surge, the coin was valued at $295.43, with a market cap of $5.24 billion. The Bitcoin hard fork registered a 24-hour trading volume of $1.96 billion and was up by 6.54% over the past day. With the surge, the coin seems to have left bears behind and was up by 10.70% over the week.
OEX held 10% of the total BCH trade volume via the BCH/USDT pair, registering $202 million in volume. The second spot was held by LBank, which accounted for $197 million in trading volume via the BCH/BTC pair.
Litecoin, following BCH closely, was hiking by 7%, at press time. The fifth largest cryptocurrency was moving in tandem with Bitcoin and was valued at $79.95. The silver coin held a market cap of $4.92 billion and registered a 24-hour trading volume of $3.76 billion. The coin held on to its earlier highs and was up by 8% over the day. The coin also followed Bitcoin Cash in abandoning the bear market and was up by 10% over the week.
Coineal held 14.85% of the 24-hour trade volume of Litecoin, registering $633 million in volume via the LTC/BTC pair. Coinall was second on the list and held $253 million in trade volume via the LTC/BTC pair.
EOS, the sixth largest cryptocurrency, joined the market rally and was up by 6% over the past hour. The token was valued at $5.14 at press time and held a market cap of $4.85 billion. The coin registered a 24-hour trading volume of $2.29 billion and was surging by 7.86% over the past day. Confirming the market’s stance against the bears, EOS was also registering a substantial gain of 10% over the past week.
FCoin held a majority of the EOS trading volume and accounted for $161 million in volume via the EOS/USDT pair. This amounted to almost 6% of the total trade volume. The second spot was taken by OKEx, which recorded a 24-hour trade volume of $141 million via the EOS/USDT pair.
With this unforeseen rally, it seems as if the bear market has come to an end. Many prominent analysts have also opined confirming this. eToro’s Mati Greenspan tweeted,
So despite the way it looks, my best guess is today’s crypto surge is not being caused by any flight from tether or bitfinex.
More likely this is simply a continuation of the recent bullish shift in sentiment we’ve been tracking.
— Mati Greenspan (@MatiGreenspan) 3 May 2019
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Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
Crypto News – 26 June – Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
— AMBCrypto (@CryptoAmb) June 26, 2019
Crypto News – 26 June
Bitcoin breaches new resistances: In a sensational run that saw the coin surge by 15% over 24 hours, the world’s largest cryptocurrency breached the $12,000 mark, while also briefly touching the $13,000 mark, before falling again
Read more at https://bit.ly/2ZMkS10
Tone Vays on Bitcoin’s biggest strength: Tone Vays opined that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention
Read more at https://bit.ly/2RD2BjL
Tron Foundation launches new inititative: Justin Sun’s Tron Foundation announced a $20 million TRX buy-back plan to promote community activity and market stability
Read more at https://bit.ly/2X8aA9W
Joe Kernen on Bitcoin, Libra: The once crypto-skeptic, CNBC Squawk Box’s Joe Kernen is of the opinion that Libra is for corporations, while Bitcoin is for the people
Read more at https://bit.ly/31MkqSa
Bloomberg on JPM Coin: According to a report by Bloomberg, the Jaime Dimon-led institution plans to launch the JPM coin and use it for bond transactions
Read more at https://bit.ly/2X75DTr
Fundstrat report on stablecoins: According to a recent report by New York-based Fundstrat Global Advisors, the FS CryptoFX Stablecoin index fell by a whopping 21 percent against BTC, with Gemini outperforming Tether [USDT]
Read more at https://bit.ly/2X5qPJw
BitGo’s latest collaboration: Bitcoin IRA has announced that it will be teaming up with BitGo to launch crypto-retirement accounts insured for $100 million
Read more at https://bit.ly/31UvjBz
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