Leading into the weekend, the total cryptocurrency market cap is sitting at just over $326 billion USD. Various events this week have cause panic selling but the G20 summit brought some confidence back to investors. The leaders in the summit came to the overall conclusion that there was no immediate need to regulate cryptocurrencies at this time.
This is the push the market needed, after the Google (NASDAQ:GOOGL) ICO advertising ban. Eventually, new cryptocurrency investors will gain thicker skin. To be fair, most of the new people that jumped into the cryptocurrency market towards the end of last year, due to “FOMO”, probably don’t have any sort of investing experience. These large dips after major announcements should subside down the road.
However, many like to argue that it’s the crypto “whales“ or bots that manipulate the prices of the coins. Who honestly really knows.
Some coins are rebounding on the market today, after a slight correction yesterday.
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Stellar’s founder, Jeb McCaleb, spoke to CNBC yesterday about the vision behind his project. McCaleb sees a singular payment system across the world, revolving around blockchain technology. He said:
“In the next 10 years, I wouldn’t be surprised if all equity isn’t tokenized on some blockchain somewhere. The change will potentially occur before 2028.”
While many global financial institutions are considering both Stellar and Ripple for cross-border transactions, Stellar is aimed at a broader market.
At press time, XLM is trading at $0.236 a coin, up only 0.53%.
The Tron Foundation’s test net is set to launch in about a week. This is a highly anticipated even around the community, as many TRX holders are excited for one step closer to a working Tron product.
For now, TRX’s price will continue to ride the wave of the market but I anticipate a strong surge in price next week as the launch date draws closer. If you’ve been considering adding TRX to your portfolio, now may be a perfect time.
At press time, TRX is trading at $0.0378 a coin, up 6.49%, in 24 hours.
Monero has had a rough month, losing almost half it’s price value in just two weeks. Just recently, it was announced that CoinCheck removed XMR and two other coins from its exchange to stay in compliance with Japan. Its hard fork, MoneroV (XMV), was also pushed back and Bittrex made an official announcement that it would not support it.
There have been lots stacked against the project as of late, but the coin is seeing gains when most of the market is in the red.
At press time, XMR is trading at $213.35 a coin, up 2.23%.
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