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Litecoin Price Helps Keep the Rally Going While the Rest of the Market Cools Off

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  • Alex Dovbnya
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    While Bitcoin has cooled and Bitcoin Cash is tearing off, Litecoin is steadily growing to keep the crypto market rally going

Litecoin Price Helps Keep the Rally Going While the Rest of the Market Cools Off
Cover image via u.today

There has been a lot of excitement in the cryptocurrency market this week as the price of Bitcoin managed to top $5,000 before falling back slightly. However, the bullish sentiment has pushed on as the major cryptocurrency is now sitting comfortably above that price marker.

As is often the case with the cryptocurrency market, the movement of Bitcoin plays a significant role in the movement of other coins, but this recent rally has been catalysed by what many are calling altcoin season.

The altcoin season began with Litecoin impressing through Q1 with 100 percent gains, and now, while the market takes a breather, the silver to Bitcoin’s gold is still helping the rally push forward with gains of near 10 percent today.

Other coins, notably Bitcoin Cash, are still tearing away with big gains of closer to 20 percent while the market cools off, but that cryptocurrency seems to be on its own mission while Litecoin looks to be propping up the rest of the coins.

Litecoin’s influence

It must be remembered that through the first three months of 2019 Litecoin has been one of the better performing assets, doubling its value in the opening three months – and this was before the most recent rally.

Litecoin’s good performance certainly had an effect on calling up the cryptocurrency spring, and it has proven to be a solid and dependable project for investors to back and follow. Now, during this rally, it has gained more than an additional 50% in its move to over $90.

Today’s market is showing a few red numbers in the top 20 coins with Bitcoin still up about two percent, but the second and third cryptos – ETH and XRP – are both down about 1.5%. Litecoin’s 10 percent gain seems to be helping keep the market in a good place as it corrects after what is seemingly its third spike of the rally.

Bitcoin Cash is still the best performer of the top 20 coins with its 20 percent gains, but, at number 22 in market cap standing, Dogecoin has grown nearly 23 percent.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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XRP Liquidity Index Surges Past 9 Bln, Leaving Previous All-Time High Behind

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  • Yuri Molchan
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    The Liquidity Index for XRP paired with MXN reaches another all-time high of 9 mln, taking the XRP adoption in this sector to a new level

The XRP liquidity index on Mexican exchange Bitso exceeds 9 bln
Cover image via 123rf.com
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The Ripple-invested Mexican Bitso exchange is a partner of Ripple and MoneyGram in the Mexican On-Demand Liquidity corridor launched this year. Bitso is the largest Mexican exchange and its participation in the Ripple and MoneyGram’s project has been successful.

The Liquidity Index for XRP in Mexico adds another million

The Liquidity Index for the XRP/MXN pair is growing fast, leaving behind one all-time high after another.

Today, on December 14, this index has taken a new level and got over the 9-mln mark with the daily progress being 92 percent.

The highest liquidity mark achieved previously was slightly under 8,568,000.

Another active ODL corridor leads to the Philippines through the local Coin.Ph exchange and its liquidity index has also risen for the first time recently.

XRP gets mentioned by the US government

As reported by U.Today, the US governmental agency, the Consumer Financial Protection Bureau (CFPB), has for the first time mentioned XRP in its document, describing the asset as a reliable remittance method which makes the process much faster and cheaper for companies that have a limit on conducting money wires each year.

The document called Ripple and XRP a safe harbor. It also called Ripple one of disruptors of the remittance industry, as well as the new SWIFT’s GPI system, a rival of Ripple.

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Large XRP transactions keep pestering the community

Recently, a large XRP transaction was spotted by the Whale Alert Twitter account when a whopping 150 mln XRP was sent from one anonymous account to another.

Many in the XRP community often criticize those who do them, with Ripple getting the largest portion of criticism, when every month it releases 1 bln XRP from its escrow account. The community believes that these dumps keep the coin’s price low.

There may be a grain of truth in this, since the XRP price has been unable to cross the $0.30 threshold for a long time and recently, after dropping below $0.22, it has been floating in the $0,21 area.

Even the much-expected SWELL conference, annually conducted by Ripple, did not push the XRP price to the North, breaking expectations of many investors.

XRP price CMC
Image via CoinMarketCap

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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