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Litecoin LTC Trading Volume Spikes

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LTC trading volume
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According to recent statistics, the seventh largest cryptocurrency by market cap, Litecoin, has recently seen a large surge in trading volume. In the recent period, LTC trading volume has mostly been consistent in the $200 million range. However, this has now changed, and information from websites such as CoinMarketCap is recording an entire $100 million more in trading volume.

At the time of writing, LTC trading volume is at $323.5 million on CoinMarketCap. One interesting thing is that Litecoin has not experienced any large price movement. Its price is currently at $51.23, with a drop of 1.20%. However, LTC trading has suddenly become much more popular.

The crypto community is currently keeping a close eye on Litecoin, with many of them speculating that this might be a sign of adoption. If this is the case, it would correspond with earlier predictions that have announced such a development for late 2018. However, there are also those who believe that this is fake volume, or that a single large transaction influenced statistics.

In the last 24 hours, Litecoin has mostly been traded on Bithumb, with around 29% of total LTC trading being done on this exchange. The second most popular location is ZB.com, with only 10.71% of LTC trading. While Litecoin is listed on more than 130 platforms, most of them do not see any trading or at least some minimal amount.

Is Litecoin trading volume a sign of adoption?

The reasons behind the spike in trading volume are currently unknown, but it is evident that Litecoin’s new popularity did not affect its price in the slightest, at least as of yet. Considering that the change in volume usually comes together with a change in value, there are some investors that are claiming that a price surge is soon to follow.

The value of cryptocurrencies is difficult to predict, and all that analysts have to rely on are the coin’s popularity and previous performances, Despite any optimistic outlook, predicting the price of Litecoin is as uncertain as it can be. While the larger rate of adoption will certainly help the coin, there is still no proof that something like this is actually about to happen.

Others see this as a temporary trend, despite the fact that LTC has surpassed numerous other currencies, including some of the top ones, when it comes to trading volume.

While opinions continue to differ in the community, the fact is that Litecoin trading volume is currently surging. While many believe that the coin’s price has dropped due to the lack of interest in this crypto, it is possible that this is now changing. Whatever the case may be, Litecoin is currently the fifth largest cryptocurrency per trading volume, bested only by Bitcoin, Tether, Ethereum, and EOS. Whether this will change or not still remains to be seen, but at the moment, the coin seems to be doing rather well.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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