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Forget Lightning, Litecoin Is About To Strike Twice Against Bitcoin

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Litecoin is cleared for takeoff after a brutal downtrend against Bitcoin and the dollar. Could the cryptocurrency known as digital silver be the next » Read more

” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin to pop like Ethereum, Dogecoin, and the rest of the pack?

Here’s a closer look at the technical signals suggesting a change in the tides is here – a reversal that could cause lighting in the LTCBTC trading pair to strike for a second time.

The Long Running Deviation Between Digital Silver And Gold

The digital gold narrative has fueled much of Bitcoin’s growth over the last two years. Being the “fastest horse in the race against inflation” and a way for corporations to protect treasury reserves has brought the crypto market to the mainstream.

Related Reading | Now Or Never: Litecoin Plummets To Bottom Of Top Ten Crypto Assets

Following Bitcoin, Ethereum went for a long run that’s still ongoing today, and other altcoins like Dogecoin have been the talk of finance. Yet still, Litecoin lagged behind.

The once top ten titan of a cryptocurrency has since fallen out of the list completely, and has some catching up to do. That time could be now, however, as momentum on the highest timeframes against Bitcoin have begun to turn up for Litecoin.

litecoin bitcoin

Momentum is turning up after more than 666 days of Litecoin holder hell | Source: LTCBTC on TradingView.com

Litecoin Ready To Strike Back Against Bitcoin Like Lightning

Litecoin has now spent a hellish 666 days in a downtrend against BTC, letting digital gold steal the entire show for several years. But like the real relationship between physical gold and silver, after gold makes a run, the silver ratio improves in the following months to years.

The same is happening now with Litecoin, now that an » Read more

” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin season is back across crypto, and lower liquidity coins begin to rake up all the capital.

Related Reading | Litecoin On The Verge Of Monster Move 

It takes less capital to move the price of these coins further, and after such a long-stretch of negative sentiment in Litecoin while Bitcoin soaked up all the positivity, it could result in an especially powerful move.

All the same perfect-storm conditions are back from the last time the tides changed. The LMACD is turning up on monthly timeframes, suggesting momentum is in bulls’ favor.

The downtrend both times lasted roughly the same amount of time, and the big move up came after breaking above the middle-Bollinger Band – something that is clearly happening again now according to the chart pictured above.

With Bitcoin diving, and Litecoin and other altcoins getting their day in the limelight now, there’s a chance the massive move is only just beginning. Measured move targets point to as much as a 240% move against Bitcoin. Will LTC strike BTC for a second time?

Featured image from Pixabay, Charts from TradingView.com

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/analysis/ltc/forget-lightning-litecoin-bitcoin/

Blockchain

Elon Musk’s SpaceX to Accept Dogecoin (DOGE) Payments for Space Missions

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After Tesla’s moe of accepting Bitcoin (BTC) payments, Elon Musk’s space exploration SpaceX announced that it is will accepting Dogecoin (DOGE) payments for its pace missions. This comes just a day after Elon Musk called Dogecoin a “hustle” triggering a 30% price crash over the weekend.

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eIntro

Is Musk trying to do damage control here? Maybe or maybe not! Whatever it is, this news is pretty exciting for all DOGE investors in the market. The announcement for “the DOGE-1 Mission to the Moon” was made by the Geometric Energy Corporation (GEC).

The mission involves flying a 40KG cube satellite of the Falcon 9 rocket that will carry “lunar-spatial intelligence and computational systems” on board. The mission launch is scheduled for Q1 of 2022 and so SpaceX also plans to start accepting DOGE payment during the same period. Here’s what Elon Musk tweeted upon launching Dogecoin to the moon.

Although GEC announced the DOGE-funded mission, it has not exactly said how much that would cost. Speaking about this new synergy between crypto and space missions, SpaceX Vice President of Commercial Sales Tom Ochinero said:

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“This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce. We’re excited to launch DOGE-1 to the Moon!”

Solidifying DOGE’s Market Position

Well, last week, Elon Musk’s SNL tweet drove DOGE price to an all-time high of $0.71 with its market cap reaching $94 billion. Just before the SNL event over the weekend, Elon Musk had warned about the higher valuations. As it happened, during Musk’s SNL show appearance, the DOGE price crashed as much as 30% over the weekend, after Musk referred to it as the “hustle”.

Even at price time, DOGE continues to trade 16% down at a price of $0.54 and a market cap of $70 billion. It is still trading 10% positive on the weekly chart. Also, the recent SpaceX announcement seems to have little impact in turning the tide for Dogecoin.

One thing is sure that such announcements will certainly solidify DOGE’s market position and acceptance. With the recent announcement, Geometric Energy’s Chief Executive Officer Samuel Reid said:

“Having officially transacted with DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified DOGE as a unit of account for lunar business in the space sector”.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coingape.com/elon-musks-spacex-to-accept-dogecoin-doge-payments-for-space-missions/

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Blockchain

The Transfer Token’s (TTT) Migrating to a DeFi Token Protocol

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[PRESS RELEASE – Please Read Disclaimer]

Atom Solutions Co., Ltd. (hereinafter referred to as Atom Solutions), developers of the cryptocurrency trading and overseas remittance platform “Eternal Wallet”, has announced that its in-house developed token, The Transfer Token, will migrate to a DeFi token protocol.

The Transfer Token (hereinafter referred to as TTT) is a token issued by Atom Solutions. The most exceptional feature is that by holding and lending TTT on our platform “Eternal Wallet”, developed alongside TTT, users are eligible for gaining dividends distribution.

Regarding the dividend distribution within the wallet, during an open beta test conducted from January through February, Atom Solutions recorded the below values:

・In the case of holding TTT within Eternal Wallet: 98% yearly

・In the case of lending out TTT into The Pool within Eternal Wallet: 218% yearly

The migration of TTT to a DeFi token protocol was largely born out of feedback gathered from the beta test.

This is essential in strengthening security, and preventing misconduct and data manipulation by specific operators and/or third-party attackers. By migrating the core of Eternal Wallet, the element that covers “The world’s highest received amount when remitting overseas”, to blockchain, Atom Solutions aims to provide a system with high transparency.

DeFi (Decentralized Finance) refers to the various financial services that can be provided upon the blockchain through utilizing smart contracts.

The financial services offered by DeFi encompass various sectors such as loans, insurance, exchanges, hedge funds, derivatives, prediction markets, etc. Also, unlike a centralized system with an intermediary is unnecessary, it has the feature of being a swift yet secure method of making a transaction. This notable difference from traditional financial systems has made it a focal point of interest in recent years.

Moreover, with DeFi, due to being operated on the blockchain, it has the benefits of cutting costs, increased composability and accessibility, and high transparency.

Atom Solutions, from here on forward, by further increasing the presence of TTT within the DeFi ecosystem, aims to further expand on the convenience and profitability of the services’ users.

In addition, in conjunction with this, the company has also updated the Whitepaper regarding TTT. Click here for more information.

About Atom Solutions

Atom Solutions is a Japanese FinTech corporation with 10 years of experience and achievements since its conception. In addition to abundant expertise in financial and technology sectors, we have filed for and obtained several patents related to our lending and Pool functions and much more. Armed with these we aim to realize “The world’s highest received amount upon overseas remittance”.

In our sights is not only Japan, not only Asia, but all countries across the globe. In the near future we aim to expand the number of countries where our services can be used worldwide and intend to deliver the best possible service to our users.

Location: 5F Sei Bi Do Bldg, 2-31-16 Eitai Kouto-Ku, Tokyo

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/the-transfer-tokens-ttt-migrating-to-a-defi-token-protocol/

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Blockchain

Kraken Daily Market Report for May 09 2021

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Overview


  • Total spot trading volume at $3.39 billion, 25% higher than the 30-day average of $2.71 billion.
  • Total futures notional at $921.3 million.
  • The top five traded coins were, respectively, Dogecoin (-11%), Bitcoin (-1.1%), Ethereum (+0.3%), Tether (-0.05%), and Cardano (+9,0%).
  • Great returns from Litecoin (+12%) and Cardano (+9.0%).

May 09, 2021 
 $3.39B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XDG 
$0.5702 
↓11% 
$1.12B
XBT 
$58293. 
↓1.1% 
$808.0M
ETH 
$3927.0 
↑0.3% 
$687.9M
USDT 
$1.001 
↓0.05% 
$347.6M
ADA 
$1.7691 
↑9.0% 
$184.5M
XRP 
$1.5366 
↓1.8% 
$96.9M
LTC 
$388.21 
↑12% 
$76.6M
USDC 
$0.9998 
↓0.02% 
$69.8M
DOT 
$40.346 
↑1.0% 
$59.1M
ETC 
$118.97 
↓7.5% 
$58.9M
LINK 
$52.301 
↑7.3% 
$50.3M
BCH 
$1428.7 
↑2.0% 
$31.2M
FLOW 
$27.5 
↓4.0% 
$29.0M
EOS 
$10.534 
↑1.7% 
$26.5M
TRX 
$0.1430 
↓0.14% 
$21.1M
SC 
$0.0394 
↓2.8% 
$19.3M
XLM 
$0.6287 
↑2.3% 
$17.5M
XMR 
$484.44 
↑1.7% 
$12.5M
QTUM 
$27.248 
↑5.9% 
$10.6M
KSM 
$450.93 
↑3.6% 
$10.3M
DASH 
$406.54 
↓0.9% 
$7.72M
ATOM 
$28.783 
↓2.5% 
$7.55M
XTZ 
$7.1008 
↑1.6% 
$7.22M
FIL 
$146.26 
↓1.3% 
$7.05M
ALGO 
$1.5153 
↓0.4% 
$6.81M
UNI 
$39.518 
↓2.6% 
$6.41M
WAVES 
$31.746 
↓2.3% 
$6.33M
OMG 
$11.628 
↓2.1% 
$5.44M
DAI 
$1.0015 
↑0.04% 
$5.41M
NANO 
$9.4387 
↓2.9% 
$4.26M
AAVE 
$460.04 
↓1.2% 
$4.18M
STORJ 
$2.1611 
↓3.0% 
$3.96M
ZEC 
$305.02 
↓3.4% 
$3.84M
MANA 
$1.4924 
↑3.4% 
$3.82M
OCEAN 
$1.5112 
↑1.4% 
$3.79M
KAVA 
$6.153 
↓2.1% 
$3.22M
GRT 
$1.5394 
↓2.8% 
$2.64M
GNO 
$275.90 
↓6.3% 
$2.64M
LSK 
$8.2803 
↓2.1% 
$2.47M
ICX 
$2.6508 
↓0.7% 
$2.46M
BAT 
$1.4148 
↓1.0% 
$2.38M
COMP 
$771.12 
↓1.4% 
$1.9M
OXT 
$0.6504 
↓2.4% 
$1.8M
CRV 
$3.444 
↓3.7% 
$1.41M
SNX 
$17.79 
↓3.6% 
$1.39M
KEEP 
$0.5876 
↓5.1% 
$1.31M
KNC 
$3.3837 
↓2.0% 
$1.28M
ANT 
$10.208 
↓0.4% 
$1.17M
BAL 
$66.46 
↓3.8% 
$1.12M
YFI 
$53466. 
↓1.5% 
$1.12M
REP 
$45.586 
↓2.9% 
$1.07M
EWT 
$14.222 
↑4.2% 
$1.01M
PAXG 
$1898.5 
↑1.4% 
$926K
MLN 
$105.15 
↓3.6% 
$512K
REPV2 
$45.438 
↓6.4% 
$199K
TBTC 
$60059. 
↓0.23% 
$40.0K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (May 09 2021)



Figure 2: Mid-size trading assets: (measured in USD) (May 09 2021)



Figure 3: Smallest trading assets: (measured in USD) (May 09 2021)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (May 09 2021)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.kraken.com/post/9011/kraken-daily-market-report-for-may-09-2021/

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