Cryptocurrency

Chainlink Bigger Than Litecoin as LINK Hits New Rate Above $24 — What is the Next Move?

Chainlink is now bigger than Litecoin as LINK is more than above $24. It has now entered a new price zone that investors may want to watch few critical levels for the next vital move. 

A news post on cointelegraph stated that Chainlink or LINK is one of the large performing cryptocurrencies in the market at the moment. It has proved to be so in the past twelve months. January 23rd was a new day because LINK hit a new rate of more than $24. 

Officially, it is more significant than Litecoin and ranks at seven with a val2 billion value. It was able to do so after moving ahead of Bitcoin Cash this week. The surge in LINK price of LINK also coincides with rumors this week that Grayscale is adding to add a Chainlink Trust product.

Fuzzy.One is a supply chain and information engineering service had to tweet this about the development on Chainlink now bigger than Litecoin as LINK price hits new high above $24.

https://twitter.com/FuzzyOne10/status/1352964495182684166?s=20

It was also due to the fact that the price of Chainlink was able to move toward a new all-time high. Traders and investors, in general, like to enter a position when the price is doing well. Unfortunately, in trading, those who support resistance flips tend to get the best results. 

The first resistance flip happened when it reached the $10 level, and the same happened with the $13 and $17.30 as well. Hence, traders may want to watch out for the downside until the $17.30 areas and the $19.50 areas are reached. 

The Fibonacci extension tool is an excellent indicator for understanding and finding these figures for investments in 2021. According to analysts, the next massive surge of wave can happen for Bitcoin (BTC) pair of LINK. 

The altcoin-BTC pairs have been doing well this week. They cannot be called “altseason” for now because the altcoins must still consolidate and gain strength for the next leg up to happen in the market. 

For Chainlink, for this kind of accumulation to happen, the price of Bitcoin should be steady because the volatility in the price of bitcoin may impact it on a large scale. The LINK/BTC faces a crucial test period now.

Crypto Market Cap Races Past $1 Trillion Following Jaw-Dropping Rally

The crypto market capitalization has been able to break the $1 trillion block with a combined value of all cryptocurrencies.

A news publication on cointelegraph claimed that the total cryptocurrency market capitalization is more than $1 trillion. This has happened for the first time on Tuesday, January 6th, at 19:00 ET.

The Bitcoin was around $37000, too, making it a new market cap for the cryptocurrency. Measured by market cap, the crypto asset class has virtually doubled over the past month as Bitcoin (BTC) broke out to new all-time highs, and Ether (ETH) cleared $1,100 for the first time in three years. Combined, both assets account for roughly two-thirds of the overall market.

CoinUp24 is a news firm offering readers with current news on the market is to tweet about crypto market cap surging beyond $1 trillion.

According to data from CoinGecko, the market capitalization of all cryptocurrencies has reached $1 trillion. BTC is the leader in the market with a $676 billion market cap. It is closely followed by Ethereum ETH, having a $136 billion market cap. 

Next are Tether, XRP, and Litecoin that make it to the top five in the cryptocurrency market. Likewise, this figure came close in January 2018 when Bitcoin BTC was nearing $800 billion. Thanks to ETH and BTC’s performance, most of the market’s currencies have seen immense growth percent over the past week. 

According to CoinMarketCap, the 2017 bull market was able to hit roughly $830 billion. During that time, the altcoins, too, were performing amazingly at $547 billion. This was after Bitcoin was able to retreat from a December 2017 high. 

Today, the altcoin market is less than half of that total. It shows the sheer dominance of Bitcoin BTC over the market in the year. The reactions from traders and investors are quite familiar in tone, with experienced investors giving the patient alarm. 

Antoni Trenchev, the co-founder and managing partner of Nexo, said that Bitcoin BTC is raging on defying all our expectations and negativity. Trenchev added that it is leaving all the other high-profile assets way behind it. 

This is happening for real this year. It has been happening for quite a while now. Geoffrey Morphy, who is the president of Bitfarms Ltd, a Canadian crypto mining company, said that investors need to believe in liquid assets like fiat currencies are now decreasing their value. 

Morphy advises investors who still want to invest in gold, and others might have to use other profitable assets for good. The Bitcoin bull cycles were able to make way for subsequent altcoin rally.

This is larger than the initial BTC mark-up. It is also known as altseason by members of the crypto community. During the earlier bull market, investors were taken by surprise and had little time to react. 

Today, however, many traders and investors are prepared, while some play the watch game. They are ready for the 2021 bull market, this time from Bitcoin and altcoin. The unusual flow of rates and the natural four-year market cycles are a shot in the arm for them.

Litecoin Foundation in Yet Another Partnership – this time with Atari

Litecoin Foundation and the popular gaming giant come together for a profitable partnership, to further promote the usage of Litecoin. Atari has been a favorite for gamers as it has churned out some of the most interesting games like Asteroids, Breakout, and Centipede. The partnership extends further with Atari token roll-out in September 2020. Investors will be able to source the tokens with LTC payment mode. 

If users are looking at buying in the all-new Atari VCS gaming console, they can do so by using LTC and can avail good discounts on them. It will be used for many such purposes like playing games in Atari Casinos. Users who are also gaming aficionados can lay their hands on those games which are yet to hit the market.

CEO of the gaming Giant, Fred Chesnais is rather happy with the association. He believes that Litecoin fits the bill as the platform boasts of easy usability and will proffer low transaction costs. 

Charlie Lee the Managing director had similar thoughts about the association. Litecoin and its melding with Atari is a great way for people to invest in the Atari tokens. The partnership will be beneficial not just for the crypto markets but also for the gaming industry and Atari fans. 

This is not the first time that Litecoin has struck a strategic profitable deal. Last year the foundation had roped in Ben Askren as its brand ambassador. It also featured in UFC 232. It spread its wings further by becoming a major part of the Mammoth Film festival. 

Litecoin has been proactive when it comes to consolidating partners. It has understood that such deals will help it survive the tough competition. These deals will further encourage the use of LTC and will go a long way in establishing its hold in different sectors. 

Image Source – Linkedin – Litecoin

Founder of Litecoin (LTC) Charlie Lee Eyes Asian Crypto Market

Charlie Lee, the founder of Litecoin (LTC), has announced a meetup in Asia with VNX Exchange at the Asia Crypto Week. It will be aimed at teaching the attendees more about Litecoin, and it’s future plan in Asia. Lee has sensed a growing market for Cryptocurrency in Asia, and so wants a presence of Litecoin in the center of the Asian Crypto scene.

About the Asian Litecoin Meetup

It will be held on March 14th, in the city of Hong Kong at Token 2049. and will include notable names in the Cryptocurrency field such as William Peets the Chief Investment Officer of Passport Digital Holdings, Cristian Gil the Co-founder of GSR; and Chris Lee, Chief Financial Officer of Huobi Group.

Charlie Lee spoke about the meetup saying, “Given the tremendous support that we have received from Asia, we are looking forward to hosting an engaging community gathering to thank our supporters and give attendees a firsthand view into Litecoin’s future plans.”

Alexander Tkachenko, the Founder of VNX Exchange, highlighted the collaboration with Litecoin stating, “Hosting alongside one of the leading projects in the ecosystem is something we are very much looking forward to.”

The meetup will take place on the 14th of March 2019 at Token2049 in the Kerry Hotel, Hong Kong.

Litecoin’s Current State

Litecoin known as the younger brother of Bitcoin or the silver of digital currencies is seen to be rising in interest.

LTC began 2019 with a sharp rally thanks to the speculation of mining reward halving. Mining reward being halved is when the amount of Litecoins produced as a network subsidy for each transaction block falls is cut in half. The mining reward is noted to reduce from 25 LTC to 12.5 LTC on August 8th.

At the time of writing of writing Litecoin is in the green with a price of  $49.01 and a market capitalization of $2,976,895,404. It’s doing pretty well amongst other Cryptocurrencies, ranked in at 5th position not that far from 4th position EOS which has a market capitalization at the time of writing of $3,236,525,892.

Weekly cryptocurrency watch: Crypto charts turn Green as a Bull Run sets in

Summary

There has been a general Bull Run in the markets across the week with investor confidence on the top as well. All indicators point towards a Bullish outlook in the coming days. The sharpest rise in the upward momentum was seen on February 8 with big industry players such as Fundstrat Global expressing confidence in cryptos this year. This follows a lethargic, slow crawl for Cryptocurrencies in 2019.

Bitcoin

Across the week, Bitcoin was up by 5.25%, having started off selling at $3409 against today’s rate of $3588. The Bullish momentum saw investor sentiments rise rapidly on February 8 as seen in the RSI (A). BTC’s Relative Strength Index was at 90.93 indicating very little sale offs as investors were looking to hodl their Bitcoins for better prices.

On the upper side, Bitcoin hit $3711, testing and breaching the weekly Resistance zone set at $3650. On the lower side, BTC/USD was at $3360 showing a strong price consolidation at around the $3500 mark.

Forecast

Both the 30 day (B) and the 9 day EMAs are upward facing showing a Bullish run is incoming. Also, the 9 day moving average crossed over the 30 day EMA midweek and has dominantly been on top which indicates that Bitcoin prices may go up in the coming days.

 Ethereum

The Bullish outlook adopted by most cryptos in the top twenty bracket was reflected on ETH/USD technical analysis charts across the week. Ethereum was up by 7.55% across the week, starting off trading at $106.08 on February 5 against February 11’s rate of $118.19.

This upward momentum had the effect of sending investor sentiments upwards, with the RSI (A) crossing over into the ‘under bought/undersold’ region. The RSI hit a high of 85.97 on February 8 indicating strong investor confidence in ETH.

Forecast

All indicators show a Bullish trend is incoming. The 9 day EMA (C) crossed over the 30 day EMA (B) midweek and is still above it. This shows an upward price rally for ETH/USD is in the offing.

Litecoin

After a slow start into 2019, Litecoin is rallying upwards rapidly, recording a 30.3% increase in its price. The Bull Run started off slowly as the week began but shot up on February 8 after fundamental news indicated that big industry players were upbeat about 2019 being a great year for cryptos.

Forecast

LTC/USD’s Relative Strength Index (A) was at a high of 91.9 showing little sales. Investor sentiments are at an all-time high with all indicators showing an upward price rally in the coming days. Both EMAs (9 and 30 day, marked B and C respectively) are upward facing with the short term EMA (C) above the long term EMA (B).

Crypto is Coming!