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SALT Coin Hits Retracement Target After 55% Gains

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The announcement by SALT coin to accept Litecoin (LTC) as collateral in their blockchain lending platform led to an explosion in the price of their ERC-20 token. In a 24 hour shake-up that rocked the altcoin market just before the weekend, this crypto-lending favorite rose over US $0.82 on Friday morning. SALT (SALT) shot up 55% overnight while the rest of the market stagnated in a prolonged malaise. The announcement was made on the SALT (SALT) platform blog Thursday.

The SALT Lending platform allows users to make real-world expenditures without losing potential gains from their cryptocurrency holdings. By allowing fiat loans backed by crypto-assets, SALT coin aims to bring needed liquidity to the market. While traditionally allowing loans backed by Bitcoin (BTC) and Ethereum (ETH), the addition of Litecoin (LTC) will likely bring a multitude of hodlers to its service. Litecoin (LTC) enthusiasts are understandably anxious to benefit from their accumulated stockpiles of yester-years crypto-darling.

Litecoin (LTC) has benefitted recently from a number of articles surrounding its acceptability. As reported by Forbes, Litecoin (LTC), along with Ethereum (ETH), may soon be traded in the futures markets. While investors are excited by the potential for upward price movement related to this development, it is easy to point out that futures trading did not help stem the losses of Bitcoin (BTC), which subsequently fell over 60% from its highs late last year.

Litecoin (LTC) is gaining in usability and is now accepted as payment for a variety of goods, from luxury cars to gift cards. Founder Charlie Lee recently purchased an Amazon gift-card with Litecoin (LTC), and quickly tweeted the transaction to the delight of followers and enthusiasts.

SALT coin announced a few other changes to its service along with the addition of Litecoin (LTC) as acceptable collateral. The platform now offers USD loans at a 5.99% interest rate (for loans less than US$75,000) and has removed the cap on maximum loan amounts. Having expanded their reach into 15 additional US jurisdictions, the company is gaining trust with a serious investor community that includes individuals, mining operations, exchanges, and blockchain institutions. According to their blog, “This rapid expansion of services comes on the heels of our 20-state expansion in August, bringing us closer to our goal of being fully operational in all 50 states.”

SALT (SALT) was founded in 2016. The lending platform launched in 2017. Having peaked with a price of US $17.68 in late December of 2017, the past months have been a bit more harrowing for their investors than for the typical Bitcoin (BTC) hodler. However, as the general market stabilizes, and the SALT (SALT) platform expands, the potential for gains may again be realized for the properly positioned investor in a brand new crypto-market.

The current price of SALT coin has fallen from it’s high Friday morning, retracing to its current value of approximately US $0.65. This marks a nearly perfect 62% Fibonacci retracement and will signal a buying opportunity for investors waiting for the right opportunity to jump in.

If you missed the recent announcement and were hoping for the right opportunity to add SALT coin into your portfolio, now may be your best chance.

For the global insights every crypto trader must have, apply for Elite membership!

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

Top 3 Coins to Buy Before They Go Big

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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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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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Altcoins

IOTA (MIOTA) Pending Update Might Bring Huge Gains in Days to Come

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The crypto space is erupting once again, and if popular predictions are correct — the growth is only starting. However, in the vast sea of altcoins that hold the massive potential to go big in the future, we would like to set IOTA aside as one of the coins that might blow up quite soon.

As always, there are no guarantees of this, as the crypto space still lacks regulations, and remains highly volatile. To see proof of this, all you need to do is look at Bitcoin, which goes up by $1,000 within a day, only to slowly drop by $700 in the following week, and then repeat the process. In other words, there is still a lot of uncertainty regarding any project, and that includes IOTA.

However, even with all of that in mind, many are quite optimistic about this particular project, especially after a recent announcement. The announcement in question indicates that IOTA is about to see a massive upgrade. In most cases, this would be more than enough of a reason to expect the coin to start performing better. But, in IOTA’s case, this is nearly a guarantee that it will.

The update is believed to carry a lot of fixes for a lot of problems that traders and investors have been reporting for a while. No crypto is perfect, and since IOTA is…

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