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Three large-cap cryptocurrencies that brave the crypto bear wave this week

Three large-cap cryptocurrencies that brave the crypto bear wave this week

Bitcoin is making a rebound, and most top cryptocurrencies are making positive, albeit small,…

The post Three large-cap cryptocurrencies that brave the crypto bear wave this week appeared first on CoinJournal.

Three large-cap cryptocurrencies that brave the crypto bear wave this week

Bitcoin is making a rebound, and most top cryptocurrencies are making positive, albeit small, gains. This is an indicator that though all financial markets are in the red right now, cryptocurrencies could be about to make a rebound.

This means it could be time to start looking into cryptocurrencies with strong news that could see them perform well for the remainder of the week and possibly for the rest of the month.

If you are looking to make the most of the market today, below are some of the cryptocurrencies that could easily end the week higher by double-digit percentages. Each of them has strong news backing them up.

XRP (XRP)

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Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy XRP with Bitstamp today

XRP (XRP) is one of the top-performing cryptocurrencies this week. Currently, it is up by over 15% in the week. This follows a spat between the SEC and Ripple’s general counsel, who wondered why the SEC chairman acted like a cryptocurrency cop. 

The growing feeling is that the case between Ripple and the SEC is close to the end and that Ripple has a chance of winning it. If positive news keeps coming off this case, then XRP has the potential could remain in the green for the remaining part of the week. On top of that, if the case ends in Ripple’s favor within the year, XRP could be one of the best-performing cryptocurrencies by the end of 2022. 

EOS (EOS)

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Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy EOS with Binance today

EOS (EOS) has lagged behind the broader cryptocurrency market for a while now. Even in the last bull run, EOS vastly underperformed. However, this week there is reason to be bullish on EOS. That’s because of the Antelope Protocol update. 

Through this update, the EOS network will be able to give users a better experience and make the network more attractive to developers. Among the features that developers will enjoy include EVM cryptographic functions and faster transaction life cycles. Since this gives EOS higher odds of long-term adoption, this crypto could benefit from FOMO in the short term. 

Cardano (ADA)

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Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy ADA with Bitstamp today

Cardano (ADA) is known to rally whenever there is big news around it. This is thanks to the Cardano community’s strength, one of the most passionate in the market. The big news is that Cardano now has more value staked than other top blockchains like Avalanche and Binance Coin. The total value staked on Cardano is $11.49 billion, making it the third most staked network after Ethereum and Solana.

This is likely to draw a lot more attraction to Cardano, given that it is also one of the most scalable networks with some of the lowest transaction costs in the market. In essence, the growing amount of staked value in ADA signals a potential for long-term adoption.

All this puts Cardano in an excellent position to rally in the short term, and hence crypto is worth watching not just this week but heading into October.

The post Three large-cap cryptocurrencies that brave the crypto bear wave this week appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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Altcoins

Stablecoin Economy Continues to Deflate — USDC’s Market Cap Shed $6.7 Billion in 83 Days

Stablecoin Economy Continues to Deflate — USDC’s Market Cap Shed .7 Billion in 83 DaysJust over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC’s market capitalization has lost 12.05%. For most of 2022, the second largest stablecoin by market capitalization, USDC has been above the $50 billion mark, but this week the crypto […]

Stablecoin Economy Continues to Deflate — USDC’s Market Cap Shed .7 Billion in 83 Days

Just over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC’s market capitalization has lost 12.05%. For most of 2022, the second largest stablecoin by market capitalization, USDC has been above the $50 billion mark, but this week the crypto asset’s market valuation is around $​​48.82 billion.

Following Tether’s Recent Stablecoin Reduction, USDC’s Market Cap Drops 12%

In mid-June, Bitcoin.com News reported on the largest stablecoin asset tether (USDT), as USDT’s saw more than $12 billion erased from the market cap in two months and at that same time, usd coin’s (USDC) market cap rose by 9%.

However, USDC’s market cap has shrunk a great deal during the last 83 days, as it has dropped by $6.7 billion since July 7, 2022. At the time of writing, at 4:15 p.m. (ET) on Wednesday afternoon, USDC’s market valuation is $48.82 billion and on July 7, it was much higher at roughly $55.52 billion.

USDC’s market cap today is under the $50 billion zone but for most of 2022, the stablecoin’s market valuation remained above that region. On February 1, 2022, USDC captured the $50 billion mark, in terms of market capitalization, and it remained above that region until April 17.

After May 13, USDC once again reclaimed a market valuation above the $50 billion zone, and it remained that way for roughly 130 consecutive days. While USDC’s market valuation shrunk by 12.05% during the last 83 days, 6.6% of the loss was erased from the market cap during the past 30 days.

USDC’s market cap drop follows the company’s recent partnership with Robinhood Markets, but it also follows the recent auto-conversion moves by Binance and Wazirx. Both Binance and Wazirx auto-converted their customer’s USDC holdings (and other stablecoins) into BUSD if they did not withdraw the USDC by a specific date.

Today, on September 28, statistics indicate that USDC has roughly $4.31 billion in 24-hour global trade volume. The stablecoin’s market cap dominance represents 4.985% of the crypto economy’s $983 billion in fiat value. USDC’s top trading pair today is tether (USDT) as it accounts for 32.25% of today’s usd coin trades.

Tether is followed by EUR (27.16%), USD (22.56%), and GBP (6.51%) in terms of USDC’s top pairs on Wednesday. Stablecoins like tether (USDT) and usd coin (USDC) have seen a significant rise in euro and pound trading pairs since both fiat currencies started to slide against the greenback.

What do you think about USDC’s market valuation sliding by more than 12% during the past 83 days and 6.6% over the last 30 days? Let us know what you think about this subject in the comment section below.

Source: Altcoins Archives – Bitcoin News

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