BTC – BTC has seen one of the largest rallies the crypto world has ever seen in the last month. It seems to merely be a continuation of the year, since BTC is up over 2000% since January, BTC hit a peak at $19,697 on GDAX. Now currently at $14,720, BTC seems to be slowly dropping. With futures markets opening on the 11th and some predicting shorts to hold extra risk, one might argue is this consolidation. The only way to know, will be to see what happens on the 11th of December once Future trading starts. One situation is: longs come in, and we rally up past the previous high. Or the other possibility is a flood of shorts, expecting BTC to continue dropping. If this happens, we could see any level of correction, it all depends on WallStreet now. For the first time ever…
LTC – LTC has seen a massive spike in price, from its start a few weeks ago back in the $60, it is currently trading at over $145 on GDAX. The price increase can be explained due to the influx of customers to GDAX and Coinbase’s service. With Coinbase’s app trending in the Apple app store, and only 3 coins listed on GDAX, LTC is the cheapest option to buy. A lot of new people are probably putting a few dollars into LTC instead of the $18,000 giant.
These are unprecedented highs for LTC with the next move up being completely unknown. ETH – Ethereum has stayed strong during the Bitcoin rally in USD, although the ratio has taken a dark turn. Surpassing the .03x mark and dipping into the low .02x some EthTraders were very worried. Good thing Ethereum’s blockchain had kittens to reassure the traders about their investment. With over 10mil now spent on CryptoKitties alone, many people tout Cryptokitties as a huge success for Ethereum and a small peek into what potential Ethereum really has.
Currently, ETH is trading at $490.70 after hitting a new ATH on GDAX of $535.10. If support maintains, we can expect the uptrend from the previous move to continue, potentially seeing upwards of $600. This push could be due to the addition of Ethereum Futures coming to the NASDAQ. Very Bullish for Ethereum come Q1 of 2018. IOTA – IOTA has seen amazing gains over the last week. Blasting off from $0.35 it topped out at a high of $5.55! Around 1500% increase to a top 10 coin. Following in Bitcoin’s footsteps, IOTA increased its market cap from a mere $2bil to over $12bil. Some question the increase in value since the IOTA network is not fully operational at the moment and its transaction times are very high. NEM – NEM is a Japanese currency that is not very well known to English speakers. But NEM is highly discussed in Asia. Over the last week, NEM has increased from its seemly ‘static’ price of $0.21 to over $0.53. Besides organic growth (NEM has been a top 100 coin for a long time), the reason is currently unknown to CSN. Leave a comment if you might know why.
SALT – SALT Lending is a platform to allow cryptocurrency trader to lend their crypto assets for other assets. Being the first lending service for crypto has its perk, as the token has risen 51% in the last 7 days alone. Currently valued at $7.99, the token will be used for membership on the lending platform. Meaning, if the service is successful, the token price will continue to increase. Salt Lending will be releasing its platform by the end of the year according to Salt’s roadmap. We will see if they deliver on time and if they do, will their platform be economically efficient for users? BNB – Binance.com has its own coin called BNB. The exchange itself has proven to be a highly successful business, doing over 1 billion in volume per 24 hours in the last few weeks, Binance looks like it has plenty of room to grow. Which means the coin BNB will grow with it. Due to the increase in volume, presumably, the coin has risen from $1.75 to $2.45 currently. In the following month, BNB looks like a very promising altcoin to follow.