After a week of sideways trading, Bitcoin fell below the $9,000 mark for the third time this week failing to break past the $9,500 milestone. In a span of 4 hours, the world’s largest cryptocurrency lost nearly 5% of its value, going from $9,324 to $8,975.
Nevertheless, while Bitcoin struggles, other altcoins are recording major gains across the board.
Tron: Mainnet News Driving Prices Up
After hitting a lot of $0.03 in the beginning of April, Tron’s price has been steadily recovering, increasing by over 200% to skim past the $0.10 mark a few hours ago. The surge that Tron is currently experiencing is attributed to news about the launch of Tron’s mainnet, which sparked the interest of crypto investors, both holders and non-holders of Tron likewise.
Furthermore, Tron’s founder, Justin Sun has also been hyping the public about this launch with his enthusiastic posts on Twitter.
Yes. It is just the beginning of the future. Hundreds of million people will and have to join #TRON community since decentralization is the future of the web. #TRX $TRX #TRONSR https://t.co/HZIC0RVt2V
— Justin Sun (@justinsuntron) May 1, 2018
According to Sun, the Tron mainnet is scheduled to launch on May 31.
Tron is among one of the few cryptocurrencies that have yet to have a working mainnet, with EOS being another example of this peculiar phenomenon.
EOS: Massive Gains Turn Into Steep Losses
Over the last 3 weeks, EOS has been steadily gaining momentum, eventually becoming the only top altcoin to surpass its all-time high a few days ago. However, as quick as its rise, its fall was brutal – losing 27% of its value in just 3 days.
However, this correction is rather understandable. With no live net, live applications, or real-world use cases for this blockchain and its smart contracts, many claim that EOS does not deserve its current valuation.
In fact, without a working mainnet, both EOS and Tron are valued at $14 billion and $6 billion respectively, with a daily trading volume of above $6.4 billion.
Verge: TokenPay Collaboration Spikes Prices
After announcing its partnership with Pornhub earlier this month, the price of Verge shot up by over 25% to reach $0.11. Now, after securing another deal with TokenPay, Verge is once again experiencing another lightning bull run – increasing by close to 20% in just two hours.
This partnership with TokenPay will allow people to pay with Verge using a debit card in the future.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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