While Bitcoin uptrend price keeps surprising everyone, even the most bullish of analysts, what does the market look like in the altcoins world?
Historically after Bitcoin rallies, there would follow a steep rise in the price of all alternative coins also. This time the situation appears more unclear, with some coins/tokens following Bitcoin price action and others just taking longer to make an upward move.
XRP supporters were left behind in the latest run until yesterday, when finally their favorite coin came out of the sideways area and started soaring over 20%, establishing a new high this year trading in the range of $0.40.
The reason behind the pump might very well be the Coinbase announcement that NYC residents could now “buy, sell, convert, send, receive or store XRP on Coinbase.com or using Coinbase iOS and Android apps.” This listing is not to be confused with the coin appearance earlier this year on Pro Coinbase, the trading platform of the exchange.
As one would rightly expect, the bullish market performance has not left Litecoin (LTC) behind. The altcoin’s value has for the first time since June 2018 surpassed the $100 mark, setting a new all-time high for 2019 and raising hopes regarding the project led by Charlie Lee. Possibilities that the coin will soar even higher if the current market rally continues is now on the same high side as it is for most of the altcoins.
BNB will be remembered as the only cryptocurrency that managed to reach its all-time high during the 2018 bear market. While all coins and tokens were plunging, the Binance coin went from trading between $4 and $6 to highs of $25 last year.
Its upwards trend broke down suddenly and sharply following the Binance hack of last week which caused the coin price to drop by 20% from $23.9 to $18.5 in a matter of days.
As Binance re-opens operations for traders who are now able to withdraw and deposit again, BNB can finally breathe again and establish new ATH currently trading at $26.86 at the time of writing. The exchange is also giving away 50,000 BNB to appreciate users for continued support after the hack.
Good news for Cardano (ADA) price also as its founder Charles Hoskinson announces a new partnership with Polymath. They will build together the proprietary blockchain Polymesh to launch fully compliant security tokens. Because of its non-profit nature, the project has always been a favorite of crypto holders, who in the last few hours have seen a rise of nearly 10% in the coin value, currently trading at $0.09. The coin is expected to reach $1 by the end of the year due to its solid roadmap and valuable partnerships.
We looked yesterday at Ethereum interesting price action. It looks like the uptrend is continuing and expected to reach its new resistance level of $400 in the next few weeks.