ForexMinute.com – It was somewhat a decent day for the cryptocurrency market as most of the top coins improved upon their 8/24 trading charts. At one end, Bitcoin managed to stay between a tight trading range for most of the time, and at other end, BitSharesX and Dogecoin surprised traders by rising like superman in the last 24 hours.
In case of BitSharesX, it is believed that the coin is currently being pumped by Chinese investors on a large scale. This step is to ensure the BitSharesX stand among the top ten cryptocurrencies, which also include a similar kind of asset exchanges like NXT and Ripple. Ripple Labs, meanwhile, has openly hinted a rivalry with BitSharesX as it supposedly injected a massive coin supply of $100 million to its market cap, just to compete with the latter. It eventually dethroned BitSharesX from third place. A Newton Third Law of Motion is hugely expected here.
Coming to Dogecoin, the coin is currently enjoying its best optimistic phase if one looks at its recent month performance. The funny and sarcastic cryptocurrency is indeed leaving all those death speculations behind, right ahead of its AuxPoW switching schedule. Besides, Dogecoin has also expected to fall under the lens of merchants, thanks to the GoCoin’s announcement to offer its services to more than 1,000 businesses.
The mommy Bitcoin on the other hand is already enjoying the perks of increasing merchant adaption. For instance, major laptop and PC retailer Dell is currently planning to expand its Bitcoin operations to Brazil. The company indeed had a nice run in US markets when it comes to Bitcoin. Examples like these are surely detaching Bitcoin from volatile markets, due to which we can see a dollar-like stability in its prices in the coming months.
Here is the full report:
As in the last 24 hours, the Bitcoin market stayed at its stable best. The BTC/USD pair opened on 8/25 while trading at around 508. It though slipped a bit in later hours, a movement which seems normal at this stage. While meeting the support at around 500, the pair retraced its equilibrium and stayed on it for the rest of 8/25 trading hours. It eventually closed at around 503.
At press time, the BTC/USD has surged 0.69% in the last 24 hours and is trading at 505.88.
The LTC/BTC charts remained coupled with Bitcoin even in last 24 hours. It opened while trading at around 0.01064890 and slipped but little margins in later hours. Just like Bitcoin, the LTC/BTC stayed stable for the rest of the day, and closed at around 0.01035670.
The real surprise however came during 8/26 trading hours, when LTC/BTC surged impressively right upon its days’ opening. This was the time when LTC led BTC, rather than being led by BTC. At press time, the LTC/BTC has risen 4.86% and is being valued at 0.01085610.
To contact the reporter of the story: Yashu Gola at firstname.lastname@example.org
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