Bitcoin remains the most influential cryptocurrency, but over 7,000 cryptocurrencies and other digital assets exist.
Ethereum is leading what is known as Altcoins, and it is the second-largest cryptocurrency by market capitalization. Bitcoin and Ethereum both suffer from excessive network fees and scaling problems, and the third generation of cryptocurrencies is where the most significant potential emerges. They incorporate fixes to existing issues and continue to gain market share in one of the most competitive sectors. Adoption gathers pace, but global regulators pose a threat and challenge to all assets in this class. Binance Coin, owned by cryptocurrency exchange Binance, stablecoin Tether, Cardano, Polkadot, XRP, Uniswap, and Litecoin are some of the more prominent cryptocurrencies to monitor. There are dozens of other exciting projects, from privacy coin Monero to rising star Dogecoin, Tron, Cosmos, Neo, BAT, and QTUM. Rather than trying to be everything to everyone, like Bitcoin and Ethereum, third-generation cryptocurrencies address specific challenges and offer a real-world application today. The growth of decentralized apps or dApps and non-fungible tokens (NFPs) add another layer of in-demand solutions to existing issues, making crypto excluding Bitcoin an attractive but volatile sector with tremendous potential for investors and traders alike
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The Monero market strengthened on Wednesday to break above the $200 level.
SHIB/USD is traversing in a very tight consolidated range as it continues to trade in fractional cents, this while speculative zeal surrounding Shiba Inu seemingly erodes.
BNB/USD was able to move to a five day high early this morning, and this incremental climb may attract speculative wagers on the buy side, or not.
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Solana did very little on Tuesday as we continue to hang around the neighborhood of $50.
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Ethereum pulled back just a bit on Tuesday as we continue to see a lot of negativity out there.
XRP/USD has moved lower and is above strategic support ratios, which if proven weak could spark additional nervous selling for the digital asset.
ADA/USD is near important support in early trading this morning, as a reversal produced late on Monday reminded crypto traders a bearish storm still exists.
The Ethereum market bounced a bit on Monday as the $2000 level continues to be somewhat important.
ZCash did very little on Monday, although it is worth noting that things were generally positive.
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DOGE/USD has produced a powerful dose of consolidation the past five days of trading, as it has essentially lingered within the 8 cents framework.
SOL/USD occupies the lower realms of its value range still, and has even produced a slight incremental climb higher in the past day which may attract thrill seekers.
The Monero market initially rallied to reach the $180 level, where we have seen quite a bit of resistance previously, just as the area has been supportive.
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Litecoin continues to go sideways around the $67.50 level, as we have been consolidating for a week.
Ethereum has rallied ever so slightly during the trading session on Thursday, as we continue to cling onto the $2000 level.
ZCash has initially fallen during the trading session on Thursday but turned around just below the $100 level to show signs of life.