Cryptocurrency Trading News: Gloomy Bitcoin, Shocked Litecoin and Rocking Darkcoin

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ForexMinute.com – Trying its best to recover from the bygone mishap, the cryptocurrency market made new developments in the last 24 hours. While Bitcoin, Litecoin and Nxt remained in a state of shock, it was Darkcoin that single handily brought some optimism to the market.

The credit to Darkcoin’s impeccable performance in the last 24 hours however goes to the coin’s team of developers who are making sure to turn every stone in their forthcoming hardfork. This time, they announced a new soft fork in their masternode payment network. This strategy, which they called enforcement, was more focused towards checking the network’s viability on testnet. The real optimism although came later when users gave a thumbs up to this new update, although with very few minor glitches.

While it was indeed the Darkcoin’s day, other coins were not so fortunate enough to come out of the yesterday’s impact. Specifically Bitcoin, which continued to suffer even in last 24 hours. The implication of Bitcoin was further followed by Litecoin, which also fell submissively in the same span. Nxt, on the other hand, seemed like a victim of low optimism as well. With Bitcoin prices falling to its month’s lowest; it might be possible that some opportunists have shifted from Nxt to BTC in the same time. This can also be the reason why Bitcoin comparatively fell a little compared to other other coins.

Here is the full report:

BTC/USD
The BTC/USD opened Tuesday at around $576 and continued to trend downward like previous day. The pair although did have some fluctuations, probably because of traders taking opportunity to buy the coin at its lowest prices. But eventually, the BTC valued went south amidst escalating restrictions over its use in the US and Canada. The pair closed yesterday at around $561.

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At the present time, the BTC/USD is trading at around $573 and has risen 0.39% in the last 24 hours. We can predict a normalcy in its price behaviour in the few next hours.

LTC/USD
This might have been the only time in the past two weeks that LTC/USD was actually facing a severe negativity. Unlike the BTC/USD which showed a slight improvement in today’s trading hours, the LTC/USD fell over 2% in the last 24 hours, taking its current value to $9.17.

On Tuesday, the pair opened at around $9.43 and slipped heavily in the next few trading hours based on sheer pessimism alone. While its volume remained stable, we believe it was once again the influence of the recent Canadian and US rulings that impacted Litecoin, and many other similar cryptocurrencies. The LTC/USD eventually closed at around $9.

DRK/USD
The only coin which has recovered magnificently in last 24 hours is Darkcoin. The DRK/USD opened yesterday at its week low at $9.214 and closed around $8.971, creating another low. But the real trick happened today when The DRK/USD trended upwards smoothly, in the wake of the Darkcoin team’s late night announcement of a new masternode payment update.

At press time, the DRK/USD is trading at around $10.17 and has jumped 12.30% in the last 24 hours.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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