Cryptocurrency Trading News: Market Stable, Dogecoin Is Not

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ForexMinute.com – Last 24 hours in the cryptocurrency market has been somewhat stable as Bitcoin, Litecoin, Darkcoin and other top cryptocurrencies have shown minimum fluctuations. The only coin that has seen a considerable drop is Dogecoin, which was already trending downwards from some time.

With no clear explanations that could explain the continuous fall of Dogecoin, we can predict that the increasing arrival of new, and might be better, coins are affecting the Dogecoin stand as a stable crytocurrency. The arrival of Nxt and Darkcoin explains this thing more elaborately – both of which surpassed Dogecoin market cap with their far stretched and unique offerings.

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However, in the last 24 hours, we can say that Dogecoin prices were also impacted by the temporary shutdown of its famous online casino Dogecoin Dice. Interestingly, it is the only cryptocurrency business that has been affected by the recent Canadian rulings of regulating Bitcoin and other crypto coins as well.

Meanwhile, the impact of this law seems low on other coins, as Bitcoin and other top cryptocurrencies have risen a little in last 24 hours. Here is the full report:

BTC/USD
The BTC/USD opened yesterday at around $590 and rose considerably in the next few hours. The rise was indeed inspired from certain optimistic events, such as US Congressman assuring to protect Bitcoin, new Bitcoin regulations in Canada, and others. The BTC/USD eventually closed at around $590, showing a growth that was missing from Bitcoin charts the previous day.

At this time of writing, the pair has risen 0.73% and is being traded at around $595.66.

LTC/USD
Like most of the time, Litecoin market is once again devoid of any major news that could move its prices. And it is indeed a good thing inside a cryptocurrency market which is known for its highly volatile nature. We recently did a piece on the Litecoin stability that explains how the coin has remained a sheer example of trustworthiness for a long time. It once again proves the same by remaining stable in the last 24 hours.

The LTC/USD opened yesterday at around $9.7 and rose in the next hours while tailing the Bitcoin charts. It though fell a little at the end of the day, and closed at almost the same opening value, at $9/703. At this time of writing, the LTC/USD has surged 0.13% in the last 24 hours and is now being traded at $9.72.

DOGE/USD
It has been quite a long we spoke about Dogecoin prices, possibly because of its notable downtrend which may have caused due to rumours of its available supply expected to reach its limit. However, the DOGE/USD, sometimes in between, also showed some impressive surges. At this time though, its market seems to be trading at lower prices.

In last 24 hours, the DOGE/USD has fallen around 5%, with its value reaching $0.000311 from the yesterday’s peak of $0.000332 possibly due to temporary shutdown of its online betting portal Doge Dice.

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

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