Within the past 24 hours, the bullish appearing digital asset sector resulted in that almost all the top 10 altcoins drastically dropping to their actual values in terms of their total market capitalization, and XRP, XLM, and ADA have lost 17.38%, 11.36, 11.10% of their relative market shares, respectively.
Study Found Traders Have Been HODLing BTC Throughout Summer
Earlier this year, Chainalysis published a research, according to which that most long-term bitcoin investors were revealed to dump $30 billion worth Bitcoin to speculators from December 2017 to April 2018, most of the sell-off occurring in December.
Bitcoin Cash (BCH)
Bitcoin Gold (BTG)
On the other hand, latest findings from Chainalysis highlight that the investors and speculators have maintained their positions during the summer, although the bearish trend has remained steady among global crypto market throughout August.
Bitcoin Has Reached its Financial Bottom, Able to Move Just Upwards Now
Apparently, the very first digital asset of the world, Bitcoin is ranging way over its price and trend lines, resulting in a buying divergence pattern. As it will probably promote the altcoin’s value upwards in the upcoming couple of days, the investors and enthusiasts take this as a good sign.
Besides, note that Bitcoin’s support level is tooted once more to be put about the $6,000 level, clearly indicating a lasting downward trend.
Ethereum: ConsenSys Launches its Texas Electricity Distribution Program, Vital Optimistically Looks At Ether’s TPS capacity
According to Grid+’s tweet, which is a blockchain start-up managed by the largest blockchain company of the world, ConsenSys, the company has victoriously launched its electricity supply operations to Texas-based clients.
Milestone Reached: Grid+ Texas has begun flowing power to its first four customers!
— Grid+ (@gridplus_energy) September 21, 2018
Grid+, with its blockchain infused hardware gateway system, has offered its US customers, over the Ethereum mainnet, the opportunity to get renewable resources like solar and wind energy.
Furthermore, with regard to Ether’s recently clogging blockchain, as the co-Founder of the second largest crypto habitat, Vitalik Buterin, claimed that Ethereum’s native transaction rate can be thoroughly scaled up to 500 TPS, which is impressive, by incorporating Zcash ZK-SNARKs in.
On one of his posts on Ethersear.ch, Buterin stated:
“We can actually scale asset transfer transactions on ethereum by a huge amount, without using layer 2’s that introduce liveness assumptions (eg. channels, plasma), by using ZK-SNARKs to mass-validate transactions.”
Tron: New ICO Targets a Decentralized Exchange for TRX
The Tron project, after incorporating the Tron Virtual Machine in its mainnet, is ready to initiate Tron Watch Market, a decentralized exchange project, on its native blockchain. According to the official website, this exchange project aims for enabling its users to “trade between TRON, TRX10, and TRX20 Tokens in a secure, decentralized manner.”
Another intention of TronWatch Market is to support TRON Token Network liquidity.
Besides, a weekly news update shared by the Founder of Tron project, Justin Fun, stated that TRX tokens have officially been listed on Exodus now, which is a desktop wallet with an integrated exchange function supporting more than 1000 trading pairs. Additionally, over the last week, Tron’s foundational framework has been improved to some extent by incorporating features, including but not limited to hardware information detection and node time datum testing.
— Justin Sun (@justinsuntron) September 24, 2018
EOS: Last 48 Hours Faced A Dip, Still a Hot Prospect for Future
Following the rise to the level of $6.21 on September 22, EOS has been subject to the bearish trend, which has resulted the coin to correct by an approximate 8% within the last 24 hours.
On the other hand, while the EOS habitat taking pride of numerous dApps, including Insights Network, EOSBet, Horuspay, Oracle Chain, it would be expected to see the asset surge once more during the upcoming couple of days.
Is It Expected for XLM to Jump like XRP in the Upcoming Days?
Ripple’s remarkable run has cooled down to some extent, and now the experts and analysts are expecting a surge for XLM within the next days. Stellar, dropping by 9% from yesterday afternoon, is supported by a decentralized habitat, which takes pride in numerous apps and features, including State Channels, to make this platform astoundingly attractive.
Then, the latest structural updates in XLM offer a brand new native Lightning network implementation, enabling the Stellar habitat to perform efficiently and faster for transactions with higher volumes.
Take Home Message
At the time of this writing, just in 24 hours, the digital currency industry’s total market cap has decreased by almost $5 billion. On the other hand, most of the analysts outline now a brighter future, and the alt-asset space appears to be on the verge of some another economic burst.