Crypto roundup Wednesday 12th June 2019. Litecoin BOOMING!!!
At the time of writing (6.30am BST) the #crypto market overall cap sits at just under $256B.
There is a mixed bag of small gains and losses across the top ten coins with majority trading sideways. #Bitcoin (#BTC) is hovering at just under $8000. #Ethereum (#ETH) is just over $248 after a 1% gain.
The big winner in the last 24 hours continues to be #Litecoin (#LTC) which has added nearly 9% in the last 24 hours to over $138.
Since the beginning of 2019 Litecoin has rallied 355%, reports Forbes today. Etoro's Mati Greenspan recently stated that: "Litecoin has been a leader throughout this recent bullrun."
As we approach the halving around August 8th, when the block reward will be reduced by 50% from 25 LTC to 12.5 LTC, many feel like Litecoin will be heading higher, with some quoting prices much higher than the 2017 all time high of over $375, some even claiming a potential to see 2019 out with Litecoin at $1000.
Traditionally previous Litecoin (and other coin) halvings have led to higher prices due to the greater scarcity of coins to be mined. Charles Hayter, cofounder and CEO of digital currency data platform CryptoCompare, described the upcoming halving as a "price catalyst."
“Never underestimate the power of a block halving. It is the most fundamentally sound event in Crypto history." 2012/2016 for BTC, and 2015/2019 for LTC,”
Sasha Fleyshman, Trader, Arca
#Cardano has seen nearly 5% gain in the last 24 hours and is trading at $.89 All eyes are on the much delayed but announced deployment of the Shelley protocol. A lot of people are saying the success of Cardano (#ada) depends on the success of this deployment. A new road map was recently announced. Will it be able to crack the $.10 resistance it has been struggling to break through?
The Cardano Foundation on Monday announced the appointment of Bakyt Azimkanov as the director of global PR, communications, and marketing as it plans to widen its reach on a global scale, reports Finance Magnates
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Disclaimer. The author owns some cryptocurrencies , including some of those discussed in this article.