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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Ethereum is back below the $4000 level after selling off somewhat hard on Tuesday.
ETH/USD has fallen rather hard in the past day after failing to penetrate resistance levels above; now an important support level is being tested.
SHIB/USD has produced a climb in value the past week, but this has developed after the ultra-speculative cryptocurrency challenged October depths.
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DOT/USD has produced short-term highs, and following the Christmas weekend is now banging up against values not seen since early December.
The Ethereum market has been recovering over the last couple of weeks, and even breached above the $4100 level during the Friday session.
Over the last couple of weeks, Litecoin has been on my radar.
Ethereum has drifted a little bit lower during the trading session only to turn around and recapture those losses.
Ethereum was down about 1% on Wednesday, but as you can see, we continue to hang around the $4000 level.
XRP/USD has reversed higher the past two days of trading and has sustained its short-term upwards momentum early this morning.
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ETH/USD continues to face headwinds as important support levels are coming into sight and conditions in the cryptocurrency market shows more nervousness.
The Ethereum market fell on Wednesday, but then turned around to show signs of life again as we approach the $4000 level at the time of writing.
DOGE/USD was provided with a speculative feast yesterday when news made its way through social media that Elon Musk had issued a rather intriguing statement.
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XRP/USD has moved towards mid-term lows in early trading this morning, this after attempting a slight move higher briefly yesterday.
ETH/USD has seen a steady and rather incremental price recovery this week after last weekend’s decline, but trading this morning is showing signs of value erosion.