The current cryptocurrency slump has made investors rethink their investment theories and look out for flaws in their portfolio. As Bitcoin does not seem to improve its current position, altcoin markets suffer greatly. Many vital projects have gone through a transitional phase since the Bitcoin dip started. Some of these projects are constantly being monitored for any flaws and scans but there isn’t only blood on the cryptocurrency markets today. Some altcoins are brave enough to make a reversal in the present situation and support its investors. Such altcoins are EOS and Litecoin. Both of these cryptocurrencies are ranked among the top 6 largest cryptocurrencies of the world (according to CoinMarketCap).
In this article, we shall discuss further the potential each of these cryptos has inside themselves to change the course of markets once the Bulls are set in place.
About EOS Recent Performance:
Known as the most successful ICOs ever (raising $4 billion in one year). Even before entering the crypto markets, it challenged the DApp giant ‘Ethereum’ to become the first choice of developers creating smart contracts using EOS. The Co-Founder of EOS, Dan Larimer shares his belief that one-day blockchain might get a foothold in the banking sector. The founding company Block.one envisions EOS will find its way in various industries.
In a recent video published by EOS team, such as Daniel Larimer, Bart Wyatt and Brendan Blumer (CEO of Block.one) can be seen commenting on the future of EOS and its technology being accepted everywhere by everyone. But the recent account freezing orders sent to the EOS block producers has stirred negative sentiments throughout the cryptocurrency markets. As a decentralized blockchain-based project, EOS platform and its EOS constitution are being blamed for centralized operations. That’s the main reason why EOS individual price is approximate, $7.55 which is going south at the rate of -7.28% according to the data on CoinMarketCap at the time of writing. But according to the latest buzz, it seems as though Larimer is indicating an upcoming amendment in the EOS constitution which would put all rumors about EOS being centralized to rest once and for all.
The way things look may seem as though EOS will have a hard time before recovery but given its previous records and its plan to dethrone Ethereum we can say that once EOS markets start retracing its steps back, bullish signals would make investors recover most of their investment back in no time.
What does Litecoin have Up Its Sleeve?
Litecoin futures trading have given Litecoin markets new hope and vitality and it was launched on 22nd of this June. The cryptocurrency exchange named ‘crypto facility’ based in the United Kingdom has launched the Litecoin futures trading. With the help of this, investors will be able to hold long/short-term futures contracts with Litecoin on weekly, monthly, quarterly maturities basis. The Co-Founder of Litecoin, and a well-known crypto space influencer Satoshi, Charlie Lee has publicly expressed his consent as well as excitement on the launch of Litecoin futures trade on crypto facility exchange because according to him futures trading opportunity would make it easy for investors to enter and exit Litecoin while making the cryptocurrency available for institutional investors all around the world. Experts believe that Litecoin futures trading might actually improve Litecoin’s price transparency, liquidity, efficiency in the crypto markets.
The news coming from St. Louis also helped Litecoin markets take a breather from the present price slump. The Federal Reserve Bank of St. Louis has recently announced to add four largest cryptocurrencies of the world which are Bitcoin, Bitcoin Cash, Ethereum and Litecoin to its database. To cryptocurrency enthusiasts and investors, this came out as a great opportunity to make a strong position in the abovementioned cryptos. The database used by St. Louis bank is commonly known as FRED which stands for Federal Reserve Economic Data and it is going to be fed data regarding crypto prices from world’s one of the biggest and most influential crypto exchange ‘Coinbase’. The purpose of this would be to keep economic researchers aware of the price points, sentiments and other important data which causes crypto market’s movements.
Current Market Positions of Litecoin and EOS:
Even if the two widely famous crypto projects, EOS and Litecoin are currently giving red signals but the crypto slump and Bitcoin’s decreasing prices haven’t shaken their enormous market capital and reputation within their communities. Litecoin is currently being traded at $76.51 approximately while its market capital rests at $4.373 billion. Around $258 million worth of Litecoin has exchanged hands within the past 24 hours. Whereas in case of EOS, the total market capitalization has reached to $6.762 billion overtaking Litecoin, all thanks to its successful Mainnet release and dedicated community.
There is no point in denying the fact that cryptocurrency markets are experiencing a harsh situation where Bitcoin can’t seem to make a recovery enabling altcoins to rise beyond expectations and surmounting lots of profits. But, it’s also a fact that there has been such Bitcoin price dip in the past as well, which was followed by a bull breakout and this is causing FOMO among investors. Nobody wants to lose this opportunity by not making their move when the prices of top 10 cryptos are low. Although, it remains to see how Litecoin and EOS start their countermeasures and proceed to grab the first spot once the market gets bullish.
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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 Alan Lam via Flickr
Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level
Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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