The view on the prices of the crypto-currencies not in power at the time a lot of courage and can quickly give up. Since Saturday night, the entire crypto market is in a downward channel, Litecoin, Stellar lumen, Cardano, Tron, and other Altcoins strong price downturn. However, what is the reason for this ongoing Trend?
As we already reported, has wear on Saturday night, a small flash crash in the within the shortest period of time large amounts of capital from the market are gone. The total market capitalization decreased by 340 billion US Dollar until Sunday evening to 300 billion US dollars and has fallen to even further today, nearly 280 billion US dollars.
The alleged Coinrail Hack has, in our opinion, not have such a strong negative influence on the market. There were also no major negative headlines, which could shake up the market, so the presumption is that the “Bitcoin whales” drive the market through large capital shifts to the bottom.
In contrast to the Altcoins can Bitcoin within the Top 10 the smallest decline with – 4.27 per cent , within the last 24 hours, as well as 7 days. A look at our course overview shows that the Altcoins have to much to accept greater intrusions.
Litecoin loses – 8,60 per cent, and falls to a price of 98,19 dollars and topped with a market capitalization of just under 5,593 billions of dollars continue to place 5 of the largest crypto-currencies.
Litecoin was able to establish lately, numerous partnerships, such as with Tapjets, Surfair, or VRPorn.com.
Stellar lumen has also seen a price drop of – 9.07% and is at the time of writing at a price of 0.22 dollars per XLM. With a market capitalization of just under 4.24 billion. Stellar, just ahead of Cardano on the 7 Place keep.
Although the Marketing of Stellar lumen limited to the announcement of new Roadmaps, is progressing the project. For this year, it was announced in the last Update of the Raodmap the implementation of the Lightning network. Furthermore, it is Stellar to be involved in a whole range of different projects, the variety of uses of the project.
The courses of TRON, and Cardano also show a downward trend and lose about 10 per cent within the last 24 hours.
TRON is just a grown-up and Migration to a private Blockchain is expected to be completed by the end of June. The development of the Swiss project Cardano is also progressing successfully. Last week, the developer team has announced the Open-Source Wallet Ariadne, especially for developers has been designed.
It remains to be seen, when the rates rise again and in which direction the market in the next few hours and days will develop.
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