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Why EOS and Litecoin Are Worth HODLing for the Long Run

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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.

Conclusion:

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

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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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