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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

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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