Cryptocurrency is becoming more and more mainstream, becoming more widely accepted and talked about than ever before. This means that 2019 has been the most eventful year for cryptocurrencies as blockchain continuously gains momentum across the world (Top governments around the world to embrace blockchain). With that being said, some cryptocurrencies received more news and publicity than others…
- Bitcoin (BTC): This year, Bitcoin had a surge into the $10,000 region which closely coincided with a surge in the cryptocurrency’s dominance over the aggregated crypto market, which hit a fresh two-year peak last month. This surge in crypto-dominance has primarily been driven by lackluster price action amongst most major altcoins.
- Ethereum (ETH): on September 21st, 2019, Ethereum surpassed Bitcoin in daily transaction fees. This could be because of temporary fixation of the markets right now, as well as a recent increase in trading activity surrounding dollar-pegged stablecoin Tether (USDT)
- Ripple (XRP): Ripple’s price could spike to $0.2650 before a fresh decrease. Ripple’s price is forming a decent support base near the $0.2300 level against the US dollar, while Bitcoin is declining. XRP price is likely to face sellers if it climbs towards the $0.2650 resistance.
- Litecoin (LTC): Litecoin, currently the fourth-largest cryptocurrency by market capitalization, has just reduced its block reward for miners by half. This means that miners get half as much Litecoin for successfully mining it. This was done to limit its growth of supply to ensure the value of individual coins.
- Libra (Facebook): Facebook recently revealed its cryptocurrency Libra’s currency basket breakdown. Unlike Tether (USDT), Libra’s value won’t be pegged solely to the US Dollar. Its value will be pegged 50% on the USD, and the remaining portions will consist of the Euro, the Yen, the British pound, and the Singapore Dollar (18%, 14%, 11%, and 7% respectively).
- Tether (USDT): this stablecoin’s volume is at all-time highs. This is because traders (such as in China where crypto trading businesses are restricted from accessing banking services) workaround banking restrictions by using stablecoins. It is theorized that Chinese traders continue to drive the market forward by using Tether.
- Ethereum Classic (ETC): this cryptocurrency was subject to a 51% attack early this year, but it stopped several days later. This means that during those days, the currency was hijacked by an individual who gained 51% of the energy used to mine ETC. This is a common fear in the crypto world, as gaining that amount of energy and control over a coin can allow one individual to set new protocols without other developers voting on them.
- VeChain (VET): This past June, retail giant, Walmart (its China branch) launched a blockchain-based platform, Vechain. This cryptocurrency provides real-time tracking of the products in Walmart’s supply chain. This is great news, as VeChain is a perfect example of how the wonders of crypto tech can be helpful in day-to-day shopping.
- TrueUSD (TUSD): this past April, stablecoin TrueUSD’s audit proved a full US dollar backing. This means that for each of the 189 million TUSD there is a real-life US dollar somewhere in a bank account, backing that cryptocurrency up.
- Cardano (ADA): this digital token has been touted as one of the most transparent foundations this year, despite a very slow transition to the Shelley-era. The Cardano team has been known for implementing a research-driven approach for its ambitious roadmap; this past September, it released two versions as it prepares its imminent launch of their testnet.
Though more news and developments could emerge as 2019 enters its fourth quarter. 2019 has already been seen giant strides towards cryptocurrency announcing its relevance to the mainstream population.
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