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Coinbase market influence: Stellar and Cardano pumping on listings hope

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Stellar Cardano
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Last weekend was a pretty dull weekend of exchange for the cryptocurrency market with a majority of coins recording depreciating prices across the crypto-board. Following the dismal performances that were experienced throughout the weekend by digital assets, the entire crypto market has depreciated by around 1.8 percent to stand at about $211 billion according to CoinMarketCap currently.

The Dismal Performance of Crypto Market

For the past few days, the crypto market has been experiencing a shortage of crypto news that is generally used to guide prices forcing investors and merchants to rely more on technical analysis.

And with many digital assets trading close to their resistance levels, the prices of these assets have been coming under pressure as the number of people selling them is exceeding those who are willing to buy them.

While that was the scenario for the two leading cryptocurrencies, Bitcoin and Ethereum, Stellar Lumens and Cardano (ADA) have been showing dissimilar trends. The two altcoins have been bullish defying the recent market declines that have been bedeviling the crypto market by surging upwards over the last few weeks.

The two altcoins have been so defiant on the recent market declines to the extent of Stellar (XLM) appreciating so much that it has now joined the list of the top five cryptocurrencies in the world at the expense of EOS. Stellar (XLM) has appreciated by over 23% since this time last month following the news breakout that it was being considered as a possible addition to the leading crypto exchange, Coinbase, along with Cardano (ADA).

From the look of things, it appears that merchants are investing in Stellar and Cardano with the hope that the two altcoins are going to be added to the Coinbase exchange, an action that is sure to drive the demand and prices of the digital assets in question. However, for now, here is how the two cryptocurrencies and others have been performing for the past seven days.

Stellar Lumen (XLM) Technical Analysis

From the look of the things, there is no doubt that Stellar Lumen has been having a great run leading the pack of most improved cryptocurrencies with an over 8% gain in the last seven days.

On Monday, Stellar (XLM) even overtook XRP which managed to surge by 10.71 percent to currently trading at $0.265 with a market cap of about 5.1 billion US dollars.

1-day Chart

From the 1-day chart, Stellar Lumen’s downward trend is fluctuating between 0.27 US dollars and 0.26 US dollars and its upward trend is hovering between 0.28 US dollars and 0.29 US dollars.

According to our observations, the resistance level that was formed in September is yet to be broken with the trend lines creating an ascending triangle that indicates a further price surge in the coming days.

Cardano (ADA) Technical Analysis

On Sunday, Cardano (ADA) appreciated by 1.99 percent following an almost similar price hike of 1.14 percent on Saturday. The weekend gain played a crucial role in changing the tides of the cryptocurrency since it assisted it in reversing the losses that had been experienced earlier in the week to leave the altcoin at 0.077 US dollars.

On Sunday, Cardano (ADA) experienced an intraday low of 0.7422 US dollars following an early afternoon sell-off that forced the cryptocurrency to call on support at its first major support level at 0.0748 US dollars. It was followed by a broad-based market rally that was experienced in the afternoon driving Cardano’s (ADA) prices back to the 0.077 US dollars levels by the end of the day.

At the time of writing, Cardano is the 8th largest cryptocurrency in the market with a market cap of about 1.94 billion US dollars.

As per the last 24 hours price charts, both Stellar and Cardano stand in red as we write this article but are expected to be trading in green shortly again.

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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.

Image courtesy of Ollis-Picture/PixaBay

Altcoins

HODLing Stellar Is A Good Plan For 2019

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HODLing
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HODLing, or holding on to a certain asset or assets has always been an extremely useful investment strategy, even before cryptocurrencies were even imagined. Now, with the market being more uncertain than ever, many are wondering what is the right thing to do with the coins in their possession.

Of course, things change depending on the coin in question, but today, we are going to talk about why it is a good idea to hold on to your Stellar (XLM) in 2019.

Why You Should Hodl Stellar (XLM)

The crypto market is rich with hundreds, and even thousands of different projects at this point, and separating valuable ones from those that are destined to slowly fade away can be tricky. However, even the biggest skeptics believe that Stellar is a coin that is here to stay.

XLM was first launched in 2014, and for a long time now, it has been among the top 10 cryptos by market cap. It is an open-source, decentralized protocol that allows users to send fiat currencies by using cryptocurrency as a method of transport. In a lot of ways, it is very similar to XRP. However, the biggest difference is that Stellar aims to offer its services to regular people, while XRP is more interested in working with banks and financial institutions.

Nevertheless, sending money, especially when it comes to cross-border…

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Reasons To Invest In Electroneum In 2019

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Electroneum
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2018 has been quite a rollercoaster for the crypto space. Coins went up and down more times than anyone could have guessed, not to mention two massive market crashes. However, in a few short weeks, the year will be over, and a new, positive period for the crypto world is expected to arrive.

While there are many predictions for 2019, today we are only interested in one thing — Electroneum (ETN). A lot of people quickly took notice of this coin, and many believe that it is among the coins of the future. Indeed, it has received a lot of attention, and many are interested in why that is, and why investing in it is a good idea. So, let’s take a look at a few reasons why you should invest in ETN in 2019.

1) It is fast

Speed and precision of any service have always been very important to people. This importance is even greater when making a profit depends on it. Electroneum developers were aware of this when they created it, and the coin is up to 5 times faster than Bitcoin. This means that ETN transactions can be confirmed much faster, which in turn reduces fees and waiting time.

Furthermore, there are also plans to create Electroneum Virtual Currency Exchange, which will allow the project to act as an exchange. However, the even…

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Altcoins

STEEMIT Running Out Of STEAM?

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Steemit
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Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.

If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees…

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