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The cryptocurrency market is trading mostly in the red this Friday morning. Most coins in the top 10 cryptocurrencies are either just above the percentage gains threshold or just below. EOS and TRON (TRX) are currently in the green, but Litecoin (LTC) is trading down.
Let’s take a closer look at these projects and their latest movements.EOS
Recently, the official ‘EOS’ Twitter name was changed to Block.one. Block.one is the blockchain-based company that formed EOS. The company must be taking bets that most people truly interested in EOS know about Block.one, but I’m ...
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September saw all but three of the top twenty cryptocurrency markets post an increase in monthly trade volume. XRP pairings saw the strongest month-over-month volume gain, with 30-day volume tripling when compared with August.
BTC Stagnates, USDT and ETH Post Strongest Volume Since Q2
Despite relative stagnancy in monthly BTC trade volume, an increase in altcoin trade during September appears to have corresponded with an increase in USDT and ETH trading activity.
September saw approximately $124.3 billion USD worth of trade take place across all BTC pairings – comprising a meager 0.24% increase in trading activity over August’s $124 billion, and marking September as the second weakest month of trade for BTC pairings this year.
Trade volume for USDT pairings increased by almost 4.5% percent month-over-month – with $86.5 billion worth of USDT changing hands during September.
ETH pairings broke a multi-month trend of declining trade volume, with September’s $53.8 billion comprising a 17.6% increase over August’s $45.75 billion.
Monthly XRP Trade Volume Triples
XRP posted a dramatic increase in trade activity for September, disrupting the top rankings by volume to rank as the fourth most-traded cryptocurrency pairing after ranking seventh for four consecutive months. XRP pairings saw $24.7 billion worth of trade take place during September – a 216% increase over August’s $7.8 billion.
EOS was the fifth most traded cryptocurrency during September, with $20 billion in trade. Despite slipping down a place in the rankings, EOS posted a 10.5% increase in trade volume over August’s $18.1 billion.
Bitcoin Cash pairings produce $12.9 billion worth of trade during September, comprising a 26.5% increase in volume over August’s $10.2 billion.
LTC was the seventh most traded cryptocurrency during September – with $9.6 billion trade. The month saw a 34.5% increase in trade volume over August’s $7.14 billion and comprised the strongest month for LTC trade since May.
Monthly ETC Trade Volume Drops by One Third
Dash has continued its steady climb up the top rankings – gaining one place for the second consecutive months since reclaiming its top ten position in July. During September, Dash was the eighth most traded cryptocurrency with nearly $6.5 billion in volume – a 23.5% increase over August’s $5.26 billion.
ETC has broken its four-month-long trend of increasing volume month-over-month after sliding to ninth with $5.1 billion in 30-day trade volume. Ethereum Classic was the only top ten cryptocurrency market to post a drop in month-over-month volume during September – posting 35.5% drop in volume compared with August’s $7.9 billion.
CKUSD climbed two places to rank in the top ten most traded cryptocurrencies for September with $4.07 billion in trade. September saw CKUSD post a 21% increase in volume over August’s $3.36 billion.
Most Top 20 Altcoins Post Volume Increase
QTUM moved one place up the rankings to eleventh during September after posting $3.64 billion in trade, despite volume dropping by 9% from August’s $4 billion.
TRX moved up one rank to twelfth for September with $3.52 billion in trade – a 2% gain over August’s $3.45 billion.
ZEC maintained its position at 13th after posting $3.36 billion in trade- a nearly 16% gain over last month’s $2.9 billion.
NEO moved up three places to rank fourteenth after producing $2.61 billion in 30-day volume – a 30% gain over the $1.83 billion in trade posted last month.
XLM has held its position at fifteenth for the third consecutive month after posting $2.3 billion in during September – an 18.5% gain over August’s $1.94 billion.
ADA has maintained its rank at sixteenth for the second month in a row. ADA posted $2.1 in trade volume during September – a 14.1% gain over last month’s $1.84 billion.on in trade – a 25% gain over August’s $1.615 billion.
ONT fell four positions to rank eighteenth this month. ONT posted $1.45 billion in monthly trade volume – a 38% drop from last August’s $2.34b.
BIX gained two positions to rank seventeenth during September after posting $2.02 billion in trade.
BTM appeared on the top twenty rankings during September after posting 1.34 billion in trade.
XMR ranked twentieth for volume this month, producing 1.05 billion in trading activity.
Do you think that volume in the altcoin markets will continue to increase? Share your thoughts in the comments section below!
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The post September Volume Report: Altcoins See Increase in Trade Activity appeared first on Bitcoin News.
Cryptocurrency prices have remained in a consolidated pattern over the last two weeks with a few ups and downs, but have remained fairly stable in recent days. The overall market capitalization of all 1900+ cryptocurrencies is valued at $221 billion with close to $12 billion worth traded over the last 24-hours.
Crypto-Markets Are Meandering Around as Traders Wait for a Break Out
Digital asset traders are patiently waiting for a break-out of some sort, in any direction, but it’s safe to say a lot of people are waiting for that bearish-to-bullish reversal. Today, just before the weekend, cryptocurrency trade volumes globally have ticked up and prices are meandering along with 2-3 percent swings at times. Bitcoin core (BTC) is hovering around $6,596 at the time of publication with a $114 billion total market valuation. BTC is the top traded coin by trade volume, as BTC markets are capturing $3.8 billion in daily trades. The second highest valued capitalization held by Ethereum (ETH) is around $22.9 billion with each ETH trading for $224 per coin. Ripple (XRP) is being swapped for $0.53 and the currency’s valuation is awfully close to Ethereum’s market cap at $21.3 billion. Eos (EOS) markets are up 3.5 percent today as one eos is being exchanged for $5.75 per coin.
Bitcoin Cash Market Action
Bitcoin cash (BCH) markets are up only 0.9 percent today, and over the last seven days the currency has lost 8.3 percent. Today BCH is being traded for roughly $516 per coin and the overall market capitalization is $8.99 billion. With a 24-hour volume of around $452.9 million, bitcoin cash markets hold the sixth highest trading volume throughout the crypto-economy. The top five exchanges today swapping the most BCH include Lbank, Hitbtc, Binance, Okex, and Huobi. Tether (USDT) is the currency traded with BCH the most today as USDT captures 36.5 percent of the market. This is followed by BTC (34.1%), ETH (19.4%), USD (4.6%), and KRW (1.8%).
BCH/USD Technical Indicators
Looking at the daily and 4-hour BCH/USD charts on Bitfinex and Bitstamp show bears have managed to lower the price of BCH to get in on some cheaper coins. On the 4-hour charts, both the RSI (-36) and Stochastic oscillators show markets are remaining in oversold territories at press time. One thing that’s worth noting is the two Simple-Moving-Averages (SMA) are about to cross hairs and this could mean an upside trend reversal is in the cards.
The 200 SMA is still slightly above the 100 SMA trendline showing for now the path towards the least resistance is still the downside. The 4-hour MACd shows room for improvement and Bollinger bands are extra tight. Looking at order books we can see lots of opposition at the current vantage point up until $550 and then again at $580. On the backside, if bears try and claw the price down more then there are thick foundations at $480 all the way to $460.
The Verdict: Traders Uncertain of a Bullish Reversal or Downside Break
Of course, there are a lot of analysts who believe crypto prices will grow bullish again this year and some think BTC can hit $20K again. However this week on CNBC the CEO of crypto investment firm Galaxy Digital, Michael Novogratz said he doesn’t think BTC will go above all-time highs in 2018 and continues, “I don’t think it breaks $9,000 this year.” During an interview this week the cryptocurrency analyst Nikola Lazić forecasted a downturn in prices.
“I am expecting a breakout from the downside because the horizontal support has already been broken today, the red triangle’s support has been broken in the past when the price found support on the symmetrical triangle’s uptrend line which was respected in the past,” explains Lazić.
The analyst continues:
If that last support gets broken then we are definitely seeing a lower low which would be below $5,767 (£4,458).
Overall markets, in general, have been consolidating and traders are simply waiting for the next spike or drop depending on which way they are betting. It’s safe to say enthusiasts and traders are still uncertain where markets will take them during the last quarter of the year.
Where do you see the price of Bitcoin Cash and other coins headed from here? Let us know in the comment section below.
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
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The post Markets Update: Crypto-Traders Patiently Wait for a Break Out appeared first on Bitcoin News.
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When cryptocurrency development firm Block.one concluded its initial coin offering (ICO) and released the first version of the EOSIO software, it didn’t just raise a record ~$4 billion in crowdfunded contributions — it also received 100 million of the 1 billion EOS tokens distributed through the network’s Genesis block. Now, the well-funded blockchain startup is … Continued
The post Block.one Vows to Use its EOS Tokens to Prevent Voting Cartels appeared first on CCN