The price movement of many cryptocurrencies in the market right now is encouraging. Some of these coins have passed through their low-level experience this year and are picking up very fast. Many of them are already on their bull phase. We can still notice that some are leading in the upward trend such as Bitcoin Cash, Monero and Cardano. Apart from leading right now, they may likely leave others behind in the movement.
The industry top leader Bitcoin (BTC) has been falling gradually since the high trend of 57.8% last September. The continuous downward movement can only mean that investors shifted their attention a bit towards the altcoins. Well, the good news is that Bitcoin has also joined the upward movement and is gradually rising now. On March 15, Bitcoin volume rose to $11billion within the twenty-four period.
This level occurred last year around April and hasn’t reoccurred since then. Therefore, it is clear that the bulls are turning back towards Bitcoin. However, we expect that as the trends unfold, investors should be watchful. Sometime, altcoins will take the lead in the rise and other times, the leader, BTC will take over.
This cryptocurrency took the lead amongst other alternatives in the market last week. XLM rode on Coinbase Pro announcement of supporting it on 13th March to recover. Another bullish news that topped the price was appointing Denelle Dixon as the executive director and CEO of the SDF. Players believe that having the former chief officer of operations at Mozilla will help the Stellar Development Foundation a lot.
Further developments such as the IBM’s Blockchain World Wire partnering with Stellar also facilitated the upward movement. What we can’t predict is if the rise will continue.
This cryptocurrencies also made a mark in the community by joining the upward trend. It rose to 15% higher than before. Although we haven’t heard any news that may have helped it, the change is still impressive. However, investors should tread with caution. The altcoin is popular for fluctuating. It can follow a vertical rise today, and before you know, it is falling like a waterfall. Therefore, we need to be careful here and watch what happens.
The only sure thing is that if the coin falls below $239, it may stay at that level for a longer time. However, if the bears drag the price below $105, then the value will move towards the negative side.
The cryptocurrency also saw an impressive move up the ladder this week. Let’s recall the announcement about the acceptance into the “International Association for Trusted Blockchain Applications” There is nothing that drives business more than trust. Being a part of the IATBA is commendable and assuring. The association aims at facilitating growth in the industry. Its effort to identify key areas where the blockchain can help to improve many industries makes it a big win.
Therefore, being a part of the association may have contributed to the upward trend of Cardano. Investors are hopeful that the digital currency will still see better days.
|Exchange||Volume change, 24h|