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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Neo fell ever so slightly on Friday in relatively quiet trading.
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Ethereum has fallen during the trading session on Thursday to test the bottom of the Wednesday candlestick.
Polkadot continues to trend lower as the market is threatening to break down through the $14 level.
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The LUNA/USD pair is trading at 85.70, which is above the important support level at 76.53, which was the lowest level in April.
The BNB/USD coin held steady after the Federal Reserve interest rate decision.
Monero has gone back and forth during the trading session on Wednesday as we await the FOMC statement.
Solana has shown itself to be attracted to the $80 level underneath, an area that should be supported based on historical action.
AVAX/USD has moved slightly higher in the last day of trading, but Avalanche remains near dangerous lows in a market that shows growing nervousness.
ADA/USD is lingering near unsettling support levels, and speculators who have been trying to seek a reversal higher may be growing uneasy.
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The Ethereum market initially tried to rally but gave back early gains as we continue to hang about the $2800 level.
ZCash had a very quiet session on Tuesday, but that might be exactly what was needed as we had formed a hammer on Monday, and now it looks like we are hanging about the $122 level.
SOL/USD has managed a slight reversal higher in early trading this morning, but conditions remain choppy as the cryptocurrency remains near crucial lows.
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Litecoin fell a bit on Monday to pierce the $100 level.
Ripple fell rather hard on Monday to break down to as low as $0.57, before bouncing enough to form a bit of a hammer.
XRP/USD remains near important lows after touching a depth it had not traversed since January, as the price of Ripple struggles to create positive momentum.