After a sour bearish week, most cryptocurrencies are back in the game with charts shining green all around. Among the Top 20 tokens according to their market cap VeChain [VEN], Binance Coin [BNB] and NEM [XEM] are the major leaders showing a gain above 16% in the past 24 hours at press time.
Bitcoin moving to green generally indicates other tokens gaining momentum, the major winners from the past 48 hours have been Stellar Lumens [XLM] which even yesterday showed a constant positive growth of 10%. At press time XLM was trading at $0.23 to a token with a market cap of $4.3 billion showing a growth above 11% in the past 24 hours.
With the possibility of more ICOs and token shifting or using Stellar, the community believes Stellar could essentially be the new ETH and is poised for a massive bull run.
TRON [TRX] which has been constantly in the news over the past month with the launch of their Test Net was bashed on social media the day after Test Net was launched with TRX losing over 10% in 24 hours that day. Things are now back to green with the market gaining momentum and TRX at press time was trading at $0.034 to a token with a market cap of $2.2 billion and a 10% growth in the past 24 hours.
DASH which generally sits on the charts silently has gained 10% in the past 24 hours and at press time was trading at $326 to a token.
Ilia Rielly, an investor who invested in early November last year says,
“The current rise feels temporary. I’ve trained myself to not get excited with short gains. Once BTC breaks through 11.8 dollars then we could classify it is a “bull run”. Tron, Stellar have been in the news so much that I feel, the moment we get a confirmed break-through, these coins could be potential bull leaders.”
A look at BTC order book in several exchanges reveals that a drop below $5900 is extremely difficult unless heavy sellers with huge volumes push through. Analysts say that the current increase in BTC prices to $7300 (at press time) could possibly continue till $7500 before hitting a sell-wall. A breakthrough from there could propel prices back to $8000.