Cryptocurrency Trading News: Nxt, Ripple Rising; Bitcoin Stable; Litecoin Falls

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ForexMinute.com – In the last 24 hours, the biggest news to greet the cryptocurrency market is of Nxt, which is being accepted at renowned Danish virtual currency exchange CCEDIK. What makes this news worth a smile is the introduction of new trading instruments that would make Nxt trading with USD and EUR a piece of cake.

On the one hand, there is Nxt proving itself to be the next best thing, while on other we have a market full of flipping coins, including the likes of Dogecoin and Peercoin. The ones that are balancing between rises and falls are Litecoin, Darkcoin and Namecoin. Meanwhile, the mother of cryptocurrencies Bitcoin is at its stable best and Ripple is walking on its escalating road.

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Here is the full report:

BTC/USD
The investments continued to come inside the Bitcoin economy even in last 24 hours. This time, it was one of the Japanese companies that raised around $1.6m for the expansion of a local Bitcoin exchange. We already had a positive event in the name of OKCoin, the renowned Chinese Bitcoin and Litecoin exchange which announced to introduce USD and HKD deposits and withdrawals to its users.

Speaking of numbers, the BTC/USD opened yesterday at around $621 and rose sharply in the following hours under the influence of raining optimism from the merchant sector. It however fell later by an avoidable margin, probably because of the short-term profiteers selling BTC at peak. The pair eventually closed at around $621. 3.

At press time, the BTC/USD has risen 0.10% in last 24 hours and is trading at $623.76.

LTC/BTC
A-little-rise-a-little-fall was the scenario for Litecoin charts in the next hours. The LTC/BTC was was more stable than its earlier trends. It seems like miners and investors are holding onto their coins in order to balance the demand-supply ratio. Surprisingly in last 24 hours, the pair saw a huge leap, which was subsequently met with equal fall. But overall, it was a stable day for Litecoin as well.

The LTC/BTC opened yesterday at 0.01389430 BTC and closed at 0.01378460 BTC. At press time, it has fallen around 1% and is trading at 0.01365909 BTC.

BTC/XRP
The BTC/XRP continued to rally upwards even in last 24 hours, thanks to the positive sentiment created by the ongoing developments in implementing its Smart Contract System called Smart Oracle. However, we are currently working on a theory that explains the reasons behind the sudden uptrend of Ripple prices. This theory will try to find the impact of growing Bitcoin economy on Ripple market cap.

Speaking of numbers, the BTC/XRP opened yesterday at 0.00000867 BTC and trended upwards smoothly, without facing any resistance at all. It eventually closed at 0.00000908 BTC. The trend is continuing even in today’s trading hours. However, we fear it may fall upon reaching its top, where buyers may start selling for profit.

At press time, the BTC/XRP has surged 9.09% in last 24 hours.

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

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