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Three Reasons That Could Push EOS, Ethereum, Litecoin, and Others into a Bull Run

  • Darryn Pollock
    🤷 Opinions

    The latest rally in the cryptocurrency market has been one driven by altcoins, as well as a long standing one — is a Bull Run imminent?


Three Reasons That Could Push EOS, Ethereum, Litecoin, and Others into a Bull Run
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The last seven days have been overall quite positive for the entire cryptocurrency market with the head of it, that being Bitcoin, almost crossing the $4,000 mark. However, while Bitcoin still has major sway over the way in which the market moves, it could be that an altcoin season is brewing.

The likes of EOS, Ethereum, Litecoin, and even a few others have been instrumental in propping up the market with positive price moves, and what is more, they have found points of support and managed to stay above them for an extended period of time.


In these last seven days, the coins mentioned above have moved thusly: Bitcoin is up 9.84%, Ethereum is up 21.24%, Litecoin is up 23.13%, while EOS is up 35.72%. These are impressive numbers in what has been termed a cryptocurrency winter.

But, are these movements, and the extended rally, enough to suggest that the bearish market is under threat? Well, there are a few reasons to believe so.

Long and wide

So, while the cryptocurrency rally of the past week has propped up some coins with significant gains, it has also shown it is not only a lengthy rally, but a wide one too. In the top 100, only seven cryptocurrencies dropped in the last seven days, while 93 advanced.

Again, it is indicative of the power of other coins, not just Bitcoin, moving the market. Bitcoin has played its part, probably ending the spike when the $4,000 resistance was tested, but it has not been a rally that has relied on one coin, and thus it has been able to spread throughout the entire market.

Blockchain news

Another reason why this rally may be a change in fortunes for cryptocurrencies is that there has been a lot of positive news about blockchain projects being used in enterprises. Companies and people are looking to make partnerships with blockchain projects, some of them in the top 10 of the market cap ranking.

There is the partnership between Mastercard and the fintech startup Stellar, a Western Union and Ripple project, and the introduction of a NASDAQ Bitcoin index. Even JP Morgan is starting to use blockchain for their own cryptocurrency, giving legitimacy to the underlying technology.

Bitcoin tested

The bull run could really start to kick off if the key resistance of $4,000 for BTC is broken and the major cryptocurrency can stay above that mark. It would represent the first time since November last year that Bitcoin has managed to break a $1,000 resistance mark and would spread positivity.

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Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?


Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?
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On a day where the markets are predominantly in the red, but only slightly, it is interesting to note that Binance Coin is surging. The exchange token is up fiver percent, but it is totally understandable as to why there is so much positivity around the company.

The biggests news, which comes off the back of its decentralized platform, Binance DEX, is that the Binance Chain mainnet has been launched and that they will be executing their Mainnet Swap on April 23rd.


This means that Binance Coin will be shifting away from Ethereum, leaving questions open as to what this means for Ethereum, which has been under the pump to stay relevant in today’s crypto and blockchain space. This move will result in a migration of $3 billion worth of BNB being moved away from the Ethereum blockchain and onto the new Binance chain.

A positive investment

All the good news emanating out of Binance has not only helped the coin to climb in price when the rest of the market settles down – it is helping it head towards a new all time high. Binance, like many altcoins, reached its ATH in January of 2018 in that parabolic stage.

Binance Coin hit $24 back then, and now, it is at $21 and rising with the thoughts being that when the mainnet move takes place, there could well be an even bigger surge. It is also interesting to note that just a few months ago, at the end of last year, it hit lows of $4.50.

Competing with Ethereum?

The mainnet move is obviously good news for Binance, as the markets are suggesting, but is it equally bad news for Ethereum, which was the holder of $3 billion thanks to the exchange. Many people have speculated that this new blockchain platform will pose competition to Ethereum, but ultimately it will help diversify Binance Coin’s use cases while also increasing its utility.

So perhaps rather than being a direct competition to ETH, it is only going to strengthen Binance Coin and in doing so perhaps spell out the future of cryptocurrencies as there is good reason to believe that this token, with its added utility and use cases, will be a viable token for the world going forward.

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