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Insights from the EOS and LTC fight for The 4th Spot In Market Ranking

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Insights from the EOS and LTC fight for The 4th Spot In Market Ranking

Recently, there is a trend that has been observed between the 4th and 5th cryptocurrencies in terms of market capitalization which has seen their continuous displacement in position. The two cryptocurrencies in question are EOS and Litecoin (LTC),

Some of the lessons that could be observed by this change in position are:

1) User sentiment is not permanent
2) Development could occur anytime
3) Most part of the market could take either position
4) Invest only what you could risk

User sentiments is not permanent

One of the reasons for the continuous change in position of this
cryptocurrencies is the users sentiments. This leads to a surge in the
volume of trade and low or high demand for the coin, which affects
its price. Hence, EOS and LTC have been experiencing positive and
negative user sentiments which lead to their fall and rise in market
capitalization in recent time.

Development around a coin could affect its price

Some developments around most of this top coins are timed while some
are beyond the control of the team that handles the coins. An example
is news about a coin which is different from the updates in its
software. This unforeseen development among the two coins had now led
to their fight for better market ranking.

Most part of the market could take either position

At the time of writing, EOS is red unlike BTC, ETH and XRP that occupies the 1st, 2nd and 3rd positions respectively while LTC is showing green position. This change in price could lead to an urgent displacement of EOS from the 4th position by LTC since the market gap between the two coins is less than $100 million and also litecoin is more than 19 times the price of EOS.

Invest only what you can risk

The high volatility in the crypto market had shown that it is very
risky to invest in a coin due to their market ranking. Hence,
assumption could lead to high lose in investment. So, each crypto
investor should only invest what they can lose.

At the time of writing, EOS and LTC trades at $4.19 and $60.75 respectively.

Cryptocurrency

Tron (TRX) Finds its Way Back to the Top Ten List

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Tron CEO Justin Sun, known for his flair for publicity and announcement of any achievement on his network announced in a tweet that Tron has made its way back to the list of top ten performing cryptos. TRX’s performance has been outstanding since the second quarter of 2019 both in its level of development and features.

According to the Coinmarketcap.com index at the time of writing, the trend curve shows Tron is moving higher than most other coins including Bitcoin (BTC) and Ethereum (ETH). It currently trades at $0.039 increasing at 6.18% in 24 hours at a market cap of $2.6 billion.

A few days ago, Tron (TRX) had a new surge in price which saw it to the $0.04 trading price. This new rate has been retained seeing the digital asset performing higher than most other cryptos.

Looking at the recent happenings that have created a boost in Tron (TRX) performance; it can be easily seen that though the network has recorded few partnerships with other companies, more of what pushes up its performance is the volume of activities on the platform.

A report from Dapp.com states that Tron is the most ambitious project in the Dapp field. In the second quarter of the year, it has been able to launch $2 million projects more than other blockchain protocols in upgrading its Dapp ecosystem.

A review of TRX performance reveals that in a space of four months, the transaction volume increased from less than 130,000 transactions to  2 million transactions.

Investors may still not be so willing to stake much on this digital asset even with every sign of high returns, because the trend in activity can change any time.

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Cryptocurrency

World’s Largest Interdealer Broker to Offer Crypto Derivatives

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Why Bitcoin Is Better Than Other Cryptocurrencies

TP ICAP has entered the crypto market where it is to offer crypto derivatives, hoping to boost its dwindling core business which is in commodity, financial and energy markets. Last year, TP ICAP lost 36% of its market value in the wake of the financial crisis.

It has since salvaged about 10%. TP ICAP is set to be the intermediary between customers wanting to buy and sell Bitcoin futures, Bloomberg reports.

The firm’s new venture will be based in London and will be led by Simon Foster and Duncan Trenholme. This move is however not sudden as it might seem. Roughly a year ago, TP launched a working group tasked with examining the firm’s best approach to cryptocurrency.

Notably, a year later, they announce their approach to crypto to be trading of Bitcoin futures and they envision adding non-deliverable forwards (NDFs) tied to Bitcoin.

This is a sweet spot for the firm as it joins other big players such as Fidelity Investments, JP Morgan, and Intercontinental Exchange to engage in crypto derivatives trade. These firms’ decision to engage in Bitcoin, derivatives trade is unlike their clients’ who prefer to not trade in cryptocurrencies that are still recovering from the infamous yearlong slump.

Bakkt, a much-anticipated crypto trading platform known for its multiple delayed times is set to launch its own physically settled Bitcoin futures trading testing on July 22. Additionally, Nasdaq is set to launch its own crypto futures platform during the course of this year.

“Every institution is on an educational journey,” said Trenholme, who is co-leading TP ICAP’s new venture. “Many are exploring how tokens can legitimately be traded or stored and I’d expect more projects to hit the market over the next year or two.”

TP ICAP is also exploring other digital asset offerings. The firm is thinking about participating in the actual cryptocurrency market. “We want to be close to what’s happening within this nascent asset class because we believe it’s important to invest in the early stages of a growing market,” said Simon Foster.

“TP ICAP also understands that this technology could disrupt or impact other asset classes where we currently operate, so we feel it’s important to be informed.”

This venture will entail cash-settled futures contracts trading on a regulated market which will be managed by CME Group to avoid potential risks of fraud and market manipulation. Their clients will also have to undergo rigorous anti-money laundering and identity checks.

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