The Crypto Compendium: BTC, XRP, XLM, ADA, TRX and More News Roundup
As soon as things were starting to appear bullish for the digital asset sector, over the course of the last 24 hours, almost all of the top 10 altcoins by total market capitalization have witnessed quite a major drop in their intrinsic values— with XRP, XLM and ADA losing -17.38%, -11.36, -11.10% of their relative market shares respectively.
Study Reveals Investors Have been HODLing BTC All Summer Long
As per an research study released by Chainalysis earlier this year, a majority of long-term bitcoin investors were found to have has dumped $30 billion worth of Bitcoin to speculators between December 2017 and April 2018— with a majority of the sell-off taking place during December alone.
However, Chainalysis’s latest findings seem to indicate that investors and speculators have held onto their positions over the course of the summer, even though bearish conditions have continued to rage across the global crypto markets all through August.
Bitcoin Has Hit its ‘Financial Bottom’, Can Only Move ‘Higher’ From Here on Out
As things stand, Bitcoin, the world’s premier digital asset is hovering well over its price and trend lines— thereby causing the formation of a ‘buying divergence’ pattern. This is a good sign for investors and enthusiasts alike, since it will most likely spur the value of the altcoin in an upward direction in the coming few days.
Also worth noting is that Bitcoin’s support line is once again touted to be placed around the $6,000 mark, which definitely indicates the end of a downtrend.
Ethereum: ConsenSys Starts its Texas Wide Electricity Distribution Program, Vital Remains Optimistic About Ether’s TPS capacity
As per a tweet by Grid+, a blockchain startup governed by the world’s largest blockchain company, ConsenSys, the firm has successfully initiated its electricity supply operations to clients based within the state of Texas.
Milestone Reached: Grid+ Texas has begun flowing power to its first four customers!
— GridPlus (@gridplus) September 21, 2018
By employing the use of a blockchain infused hardware gateway system, Grid+ has enabled customers in the US to procure renewable resources such as solar and wind energy via the Ethereum mainnet.
Additionally, in response to Ether’s recent blockchain clogging issues, Vitalik Buterin, the co-Founder of the world’s second largest crypto ecosystem, suggested that by using ZCash’s ZK-SNARKs, Ethereum’s native transaction rate can be scaled all the way up to an impressive 500 TPS.
Via a post on Ethersear.ch, Buterin noted that:
“We can actually scale asset transfer transactions on ethereum by a huge amount, without using layer 2’s that introduce liveness assumptions (eg. channels, plasma), by using ZK-SNARKs to mass-validate transactions.“
Tron: New ICO Aims to Develop a Decentralized Exchange For TRX
After integrating the Tron Virtual Machine on it’s mainnet, the Tron project is now primed to launch a decentralized exchange project called ‘Tron Watch Market’ on its native blockchain. As per the official project website, the goal of this exchange is to allow users to “trade between TRON, TRX10, and TRX20 Tokens in a secure, decentralized manner.”
TronWatch Market is also designed to help increase the liquidity of the TRON Token Network.
Additionally, according to a weekly news update released by Justin Sun, Founder of the Tron project, TRX tokens have now officially been listed on Exodus, a desktop wallet that is designed with a built-in exchange function with support for more than 1000 trading pairs. Not only that, various minor improvements have also been made to Tron’s foundational framework, with the firm adding features such as hardware information detection and time datum testing for its nodes over the past week.
— Justin Sun (@justinsuntron) September 24, 2018
EOS: Dip Observed Over the Course of the Past 48 Hours, Future Still Looks Promising
After rising to a relative high of around $6.21 on September 22, EOS has been caught in the midst of bearish momentum that has caused the currency to slide by nearly 8% over the course of the past 24 hours.
However, with the EOS ecosystem boasting of a host of unique dApps such as Insights Network, EOSBet, Horuspay, Oracle Chain, it would not be surprising to see the currency surge once again in the coming few days.
Is XLM Primed to Make an XRP Like Breakthrough in the Coming Few Days?
Now that Ripple’s amazing market run has finally cooled of a bit, various pundits and market experts are now expecting XLM to surge in the coming few days. Stellar while down 9% since yesterday afternoon is backed by a decentralized ecosystem that boasts of various apps and features such as ‘State Channels’ that will make this platform highly appealing to the masses.
Not only that, XLM’s latest structural updates also boast of a new native Lightning network implementation which will allow the Stellar ecosystem to execute quicker and more efficient transactions at a higher volume.
At press time, the total market cap of the digital currency sector has dropped by nearly $5Bln in the space of 24 hours. However, with most analysts now looking at the future with great optimism, it seems as though the alt-asset domain is in the wake of another economic boom.