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Billion Dollar Cryptocurrencies: 18 Coins Now Part of the Exclusive Club

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The market for billion-dollar cryptocurrencies got bigger over the weekend, as investor appetite continued to spread beyond the preeminent bitcoin.

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Exclusive Club

At the time of writing, there were 18 cryptocurrencies with a market capitalization of at least $1 billion, according to CoinMarketCap. The recent additions include EOS, Stellar Lumens, Lisk, BitConnect and OmiseGo – lesser known coins that are finding greater utility among investors and businesses. Nine additional altcoins are valued at half a billion or more, including Qtum, Zcash and Tether.

The altcoin surge took a while to materialize, as digital currencies not named bitcoin struggled to gain momentum last month. Bitcoin continues to control the market with a capitalization of nearly $200 billion. The global market cap for all cryptocurrencies is $357 billion, giving bitcoin roughly 56% market share.

Altcoin Surge

There are currently more than 1,200 cryptocurrencies in existence. Although the vast majority are expected to go bust, that still leaves a large universe of high-quality assets.

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Digital currency IOTA recently caught a tailwind higher after announcing a strategic partnership with Microsoft around its IOT marketplace. Meanwhile, Dash has tripled in value over the past month thanks to a high-profile block upgrade and favorable reviews from market participants in search of a more scalable bitcoin.  Although Dash may be lesser known than bitcoin, it is significantly faster, cheaper and has optional privacy features. Investors have quickly taken notice.

OmiseGo is also surging after the platform announced a major partnership with McDonald’s. The decentralized exchange has quietly become one of Asia’s most promising platforms, warranting a billion-dollar market cap.

Stellar Lumens is booming on optimism that it could soon join Ethereum as the next major ICO platform.  Last month, Smartlands became the first ICO to launch on the Stellar platform. Recent industry activity suggests more token raises will migrate to Stellar in the near term.

At the top of the altcoin list, Ethereum, Ripple and bitcoin cash continue to generate strong bids. Ethereum’s native token recently surpassed $500 for the first time, while bitcoin cash has benefited from last month’s failed Segwit2x fork attempt.

With bitcoin prices surging through the stratosphere, there’s little evidence to suggest the altcoin surge will slow anytime soon. Bitcoin’s rally could extend further into record territory in coming weeks as CBOE and CME Group launch their futures contracts.

Billion Dollar Cryptocurrencies: Full List

  1. Bitcoin: $199.7 billion
  2. Ethereum: $44.8 billion
  3. Bitcoin Cash: $25.8 billion
  4. IOTA: $9.7 billion
  5. Ripple XRP: $9.6 billion
  6. Dash: $5.9 billion
  7. Litecoin: $5.6 billion
  8. Bitcoin Gold: $5.2 billion
  9. Monero: $3.8 billion
  10. Cardano: $3.4 billion
  11. Ethereum Classic: $3 billion
  12. NEM: $2.7 billion
  13. NEO: $2.6 billion
  14. EOS: $2.2 billion
  15. Stellar Lumens: $2.1 billion
  16. Lisk: $1.1 billion
  17. BitConnect: $1.1 billion
  18. OmiseGo: $1 billion

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock. 

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Trading recommendation: Lisk/Bitcoin

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The best way to trade a range-bound market is to buy at the lower end of the range and sell at the upper end. If the range is large and well established, it offers us a good risk to reward objective. We believe that LSK/BTC fits the bill and offers us an attractive opportunity to buy at the support and sell at the resistance.

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Key points

  1. LSK/BTC has formed a large trading range.
  2. Buy at the lower end of the range.
  3. Sell at the upper end of the range.

Weekly chart

LSK/BTC has been trading in a large range of $0.00046 on the lower end and $0.0016 on the upper end. On three occasions, the cryptocurrency pair has bounced off the supports. Similarly, it has returned from the $0.0016 levels thrice. The range is well defined. Currently, price is trying to rebound after breaking below the lower end of the range last week. We believe that a buy at current levels offers us a low-risk and high-reward trading opportunity.

Daily chart

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On December 07, the cryptocurrency pair broke below the support of $0.00046. However, the very next day, it climbed back into the range, which is a positive indication. This shows that the bulls want to keep the range intact. However, the rally from the lows hit a roadblock at the 20-day EMA.

Currently, LSK/BTC is again pulling back towards the lower end of the range. If the support holds, we believe that the digital currency will again rally to the upper end of the range. Therefore, we suggest buying 50% of the desired allocation close to $0.00050 levels. Remaining 50% of the position should be purchased once the digital currency breaks out of $0.00068. The profit objective is a rally to the upper end of the range at $0.0016. The trade should be closed if the virtual currency breaks down and sustains below the lower end of the range. This is a long-term trade.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Trade Recommendation: XMR/BTC Pair Throwback

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The XMR/BTC market (Monero) has been in downtrend on the hourly chart after posting a high of 0.0225 on December 6 and failing to hold critical support at 0.02. It went to as low as 0.0145 on December 8 before respecting RSI at 32 where it established support. The market used the new support level to rally and generate one higher low after the other. It recently attempted to reclaim support at 0.02 but was repelled by bears. Currently, the market is trading around 0.019 levels where it appears to have created another higher low.

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Technical analysis shows a large reversal pattern in the hourly chart that can take the XMR/BTC pair to 0.025. Even though the market failed to breach resistance at 0.02, investors should not see it as a failed breakout. What we’re seeing is a throwback which is a temporary retreat in price. Throwbacks are common in breakout plays and are often seen as a bullish signal. The next time the market attempts to breach 0.02 resistance, it has a much better chance of breaking it with conviction.

The strategy is to buy breakout at 0.02 with immediate stop at 0.0189.

Hourly XMR/BTC Chart on Poloniex

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As of this writing, XMR/BTC is trading at 0.018714 on Poloniex.

Summary of Strategy

Buy: breakout at 0.02

Target: 0.025

Stop: move below 0.0189 after buying breakout at 0.02.

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Trade Recommendation: FCT/BTC Bullish Reversal

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The market reach its all-time high back in June this year when FTC/BTC (Factom) reached 0.01463162. Unfortunately, the pair wasn’t able to sustain its momentum. It created a lower high several days later at 0.01066744 which signalled investors to take profits or cut their losses. As a result, the market tumbled and lost 93.17% in value from its all-time high. Such a tremendous loss would have created an atmosphere of despair in the market. Usually, that’s when the savviest traders come in.

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Technical analysis reveals that the worst is behind the pair. FCT/BTC touched support at 0.001 on the daily chart twice and respected it on both occasions. This is a good indication that the market has found a reliable support level. In addition, hourly chart shows that a large reversal pattern is underway. The pair may have retreated when it nearly touched 0.002, but it generated a new higher low in the process at 0.00156566. The throwback is a bullish signal that enables the pair to gather momentum to break resistance at 0.002.

The strategy is buy on breakout at 0.002. Breach that level and the market reclaims 0.003. Sell that level because it is a strong resistance.

Hourly FCT/BTC Chart on Poloniex

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As of this writing, FCT/BTC is trading at 0.001738 on Poloniex.

Summary of Strategy

Buy: breakout at 0.002

Target: 0.003

Stop: move below 0.0018 after buying breakout at 0.002.  

 

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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