There are three types of people in this world. There are those who view the glass as half empty (pessimists); those that view it as half full (optimists); and there are those who see water in a glass (realists). The crypto traders in the last two categories have already dealt with the shock of the crypto-markets declining and are looking for means and ways to purchase more of their favorite digital assets of XRP, Litecoin (LTC) and Tron (TRX) as we shall explore in depth in a bit. The first category has probably cashed out and has walked away from the industry only to run back midway through the pending Bull run and regretting their decision to cash out.
So why just Litecoin (LTC), XRP and Tron (TRX)?
To be honest, we love these three digital assets and their corresponding projects. We are taught never to invest using emotions, but today is a case where the coins we love are considerably discounted in the markets and we’d regret not to get some before the markets recover.
Looking at LTC, it is trading at $66 at the moment of writing this. XRP is trading at $0.35 and Tron (TRX) is trading at $0.025. LTC is down 11%; XRP has declined by 14%, and TRX by 14%. These are massive drops in value for a 24 hour period, but the last time these digital assets were valued at these levels was way back in mid-November last year before the spectacular Bull run of December and January. In a sense, the ETF news of the SEC delaying their decision till September 30th is the factory reset many savvy crypto traders were waiting to fill their bags with cheap digital assets.
All these 3 coins have massive developments in the last few weeks or months and intend on making the future great. Litecoin recently acquired a 9.9% stake at Germany’s WEB bank and aims at bringing Crypto Debit and Merchant services with TokenPay (TPAY). XRP recently got a major boost with the SBI Holdings Virtual Currencies exchange, VCTRADE, opening its doors to the public with new account applications on the 17th of July. Tron released its flawless Mainnet and Tron Virtual Machine in July with plans of making their platform great with an integration of the BitTorrent platform.
Summing it all up, there are three types of crypto traders during times of market decline. Those who will head for the hills and cash out; those who will buy more of their favorite digital assets; and those who are pragmatic enough to know that this type of decline happens and will get some more of their digital assets. With regards to the latter, Litecoin (LTC), XRP and Tron (TRX) look very attractive right now.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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…