Altcoins
Litecoin, Tron, Nano, and Bitcoin appear as stars on Bitcoin Superstore
Bitcoin is a top-notch cryptocurrency and the most widely traded cryptocurrency in the crypto sphere. It occupies the No.1 position on CoinMarketCap today. And now, the crypto-king has declared its dominance once again as it becomes the coin that’s used the most on Bitcoin Superstore, a platform that allows users to shop online using cryptocurrencies from 200K stores worldwide (including the likes of Starbucks and Amazon).
Shockingly, the second and third largest cryptos, Ethereum and Ripple’s XRP respectively are not that popular on the platform. Bitcoin Superstore lists out Bitcoin, Nano, Tron, and Litecoin as the ‘most used’ digital currencies in the past ten days or so. Recently, the biggest (in fact, only prominent one at the moment) online crypto superstore said this on its Twitter page:
https://twitter.com/BitcoinSuperst1/status/1038475506394558464
As noted in the tweet, Nano, which occupies No.30 in the cryptocurrency market is the second most used cryptocurrency on 200+ online stores taking about 20%; Tron at 17%; Litecoin holding 8%.
It is important to know that Bitcoin Superstore happens to be the only cryptocurrency store that allows any customer to buy from nearly any online trader with the top 10 cryptocurrencies. Bitcoin Superstore states that within the last ten days, these cryptocurrencies have been used the most.
Litecoin (LTC)
Litecoin was created as a ‘fork of Bitcoin;’ it is also regarded as the silver to Bitcoin. LTC was created in 2011 and was seen as a big alternative to Bitcoin. It is one of the largest altcoins in the crypto sphere. It occupies the NO.7 position in the crypto sphere and overall, its performance has been ‘just okay’ lately.
Tron (TRX)
Tron is one of the favorite cryptocurrencies today. Lately, Tron has partnered with lots of companies including Twitter. The cryptocurrency recently got listed on ChangeHero and unveiled its new project named: Project Atlas.
Additionally, it has received further attention as the blockchain firm launched SeedGerminator – an accelerator for the developers who wish to create tokens, Dapps (Decentralized Applications), and technology on the Tron protocol. Overall, Tron is doing quite well and occupies the No.13 position in the crypto market today.
Nano (NANO)
Nano occupies the No.35 position in the crypto market and the cryptocurrency came into limelight in December 2017 at the time when investors were looking for better cryptocurrencies with the potential to perform better than Bitcoin.
Nano also had a big rise last year but decreased alongside other altcoins in the crypto sphere. Nano’s meteoritic growth just before the market dipped left its investors with nothing but deficits. Going in some flash-backs, Bitgrail owner Francesco Firano had even blamed Nano for the hack that made Nano dipped and slipped from its position to what it is now.
Overall, Nano is still doing quite well. Though, its blockchain structure had major problems such as that it may be vulnerable; but none of these problems have been found so far. In recent weeks, Nano has been performing better than many big altcoins.
Bitcoin (BTC)
As it is clearly seen, Bitcoin is the most traded coin in the world of crypto. Bitcoin was created in 2008. And one important thing is that no one knows who created Bitcoin or its whitepaper. We just know a name, Satoshi Nakamoto, and have seen an ‘unconfirmed’ headshot till the date.
Bitcoin had a meteoritic rise to $20,000 last year, before the big crash and now it is traded below $6500 mark. On a technical level, Bitcoin is still doing very well, and its performance tends to affect other altcoins in the crypto sphere. It also has the largest market capitalization of $108,682,214,552.
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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.
Photo by Alexander Andrews on Unsplash
Cardano price has been on a steep downward trajectory for the past few weeks on the back of a dull market and global macroeconomic concerns. The altcoin is down by nearly 6% in the month to date and more than 3% in the past week. Additionally, ADA price has shed more than 30% in the past six months, with its year-to-date price remaining in the red. Cardano’s total market cap has shrunk by more than 1% over the last day to $8.6 billion, while the total volume of the asset traded over the same period edged 13% lower.
Fundamentals
Cardano price has recorded significant losses in recent weeks in tandem with the global cryptocurrency market. Most of the digital assets have been treading waters over the past few weeks, with the premier cryptocurrency struggling to break above the crucial level of $27,000. The global crypto market cap has increased slightly over the past 24 hours, while the total crypto market volume decreased by 25%.
The Crypto Fear & Greed Index, which is a key measure of the emotions driving the cryptocurrency market, is a fear level of 39, slightly lower than the fear level of 42 recorded last week. A fear level usually indicates a decline in risk appetite by investors which might prompt traders to sell irrationally.
Investors have been assessing what could be ahead for the economy while weighing the outlook for interest rates after…
Dogecoin price has posted significant losses over the past few weeks amid bearish crypto market sentiment. The digital asset has slumped by 18.65% in the month to date and more than 13% in the year to date. Additionally, Dogecoin has shed more than 5% in the past week in the wake of a dull market. The asset’s total market cap has declined over the last day to $8.59 billion, ranking DOGE 8th after Solana. The total volume of the digital currency traded over the same period has also decreased by more than 18%.
Economic Concerns
Dogecoin price has been in the red for the past few weeks against the backdrop of weak market sentiment, a decline in risk appetite, and macroeconomic concerns. The overall crypto market cap has also been on a downward trajectory, with the crypto market cap down to $1.03 trillion, its lowest level since June. The total crypto market volume has decreased by more than 18% over the last 24 hours.
Traders have been in jitters over the past few weeks in the wake of global economic uncertainty. Data released on Wednesday showed that the UK economy contracted by 0.5% in July, ahead of the 0.2% expected. The Bank of England (BoE) is expected to raise its interest rates by 0.25% to 5.5% in its meeting next week in a bid to curb the high inflation rates. Ahead of the BoE, the European Central…
XRP price has been under intense pressure for the past few weeks, moving in tandem with the general crypto market movements. The asset has crashed by more than 20% in the month to date and 7% in the past week. XRP’s total market cap has plunged to $26 billion over the past few weeks, with the total volume of the asset traded over the last day down by 11%.
Regulatory Concerns
XRP price has posted significant losses over the past few weeks amid the bearish crypto market sentiment and regulatory concerns in the sector. The global crypto market cap has been under immense pressure over the past few weeks, with the overall crypto market cap inching lower to $1.04 trillion. The premier cryptocurrency, Bitcoin, has been struggling below the crucial level of $26,000 over the past few days, weakening the crypto market outlook.
Major altcoins, including Ethereum, Solana, Dogecoin, and Cardano, among others, have also succumbed to the general market outlook, dipping by more than 3% each. The Crypto Fear and Greed Index, which measures the key emotions driving the crypto market, is currently at a fear level of 35, pointing to an increase in selling pressure.
The legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs has also been weighing on the XRP price. The XRP price jumped by more than 70% in July after a federal judge ruled…
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