Bitcoin Diamonds don’t shine
All, crypto enthusiasts and pundits, are anxiously checking how things are to evolve in a market that seems to have tried to move to higher levels in capitalisation and valuations, but yet doesn’t seem to break out and confirm an upward trend. So, while Bitcoin (BTC) seems to be nailed to the 8,000–8,200 USD range, there are signs that the 8,200 USD resistance could be broken any time, however alternative investors on Bitcoin Diamonds (BCD) do not seem to share the same sentiment. CoinMarketRank.io is showing a steady downward pressure that has cut in half this crypto asset’s valuation in just one week. You can find out how other crypto currencies have fared the past days here.
What does the Russian Miner Coin have in common with Bitcoin?
Have you ever heard of Russian Miner Coin (RMC)? Well, if you have recently visited CoinMarketRank.io, you may have spotted it as the only crypto currency over 5,000 US dollars along with Bitcoin. What other currencies top the list of most valued in US dollars? The answer here.
And you think Bitcoin is going up
If you think that when Bitcoin goes up it’s time to hodl to your Bitcoins and move as many funds as possible from your alt-coins to BTC, think again. As you can see in CoinMarketRank.io, while it is true that Bitcoin has outperformed the Top20 coins, if you dig into the small cap domain, you will find surprising price movements. Take Jesus Coin, that has risen almost 120% in the past 7 days, or Bowhead, topping the list, that increased its value 20 times over! You can find more listings and insights here.
This is becoming a very interesting week for crypto investors and trend watchers. Stellar (XLM). It has outperformed the market (and with the sudden rise of Bitcoin the mark was quite high) and has given investors rewards for their attention to the cryptocurrency market, as seen on CoinMarketRank.io. You can see here how Stellar compares to the Top20 currencies by price change.
How did the Top 20 crypto currencies fare this week?
As explained in our previous post, only Tezos has shown a (impressive) rise in a redder than usual week. Even though there were multiple attempts at correcting its price and align with the market, the strength of buyers’ orders has out powered the selling attempts, as seen on the Top 20 ranking from CoinMarketRank.io. Other coins such as Bitcoin Cash and Dash have shown a good resistance to the sellers’ orders as you can check here.
Not a bad week for Tezos
July has not been a great month for crypto investors and enthusiasts, but some coins, if you watch out, have managed to get some momentum. Take Tezos (XTZ). In a week that has seen the prices of the Top20 coins severely trimmed on CoinMarketRank.io, only Tezos has managed to increase its price, as you can see here.
What cryptocurrency is outperforming the market?
Since the bear market started in January (when total capitalisation peaked at 850bn USD, compared to the 260bn of today!), most coins have followed the overall market mood. Some have, however held up pretty well (take Tether and those linked to non crypto assets), and a few have even outperformed the market!
Binance Coin (BNB) is one of them. In February it began a rally that has not yet seen any significant correction. The lack of capitalisation volume in the market has not been a show stopper for exchange-backed tokens: The frantic execution of transactions by a growing pool of professional traders and the surge of transactional bots just keeps driving their demand up. Similar coins such as Huobi Token (HT) or NuShares (NSR), while they have outperformed the market, they have suffered corrections that, for now have not affected Binance Coin, as seen on CoinMarketRank.io
Can you spot other positive mid-long term trends here?
3 most traded cryptocurrencies (and the US dollar is one of them!)
Can the US dollar be one of the most traded cryptocurrencies?
With the cryptocurrency market skyrocketing in 2017 many had kissed, blessed and buried the USD along with all fiat money, a thing from the past.
But it happened that the crypto market encountered a bear market and the USD has found a new life, transmigrated to crypto, as it should be.
For as long as the bear market lasts, coins pegged to the USD (and other fiat currencies), are going to be sought after. Some options in this field are Steem Dollars (SBD), Nubits (USNBT) and bitUSD (BITUSD), but only one has made it to the top 10 in the capitalisation list of CoinmarketRank: Tether (USDT). But that is not all folks! Today, Tether has been one of the top 3 most traded crypto currencies (along with BTC and ETH) as shown here.
Will the future of fiat be traded in crypto exchanges?