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Tron is Rising Where the Rest Are Falling, CMC Shows Bitcoin Namesake in Spot #64

  • Yuri Molchan
    📰 News

    Tron and Litecoin are the only coins in the green on the top-ten list, whereas the situation among the top-20 crypto assets is much better


Tron is Rising Where the Rest Are Falling, CMC Shows Bitcoin Namesake in Spot #64
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On Tuesday, Feb. 5, Coinmarketcap is showing that the top ten coins are neck-deep in the red, yielding to sellers. However, the next block, down to spot #20, looks much more optimistic.

Tron prospering despite the red wave

Even though 8 top digital assets out of ten are declining, two are still managing to move upwards – Tron (+1.79 percent) and Litecoin (+1.61 percent).

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Over the weekend, U.Today reported that TRX has risen 35 percent in 2019, which makes it a top gainer so far. Even now it keeps appreciating, along with the digital silver, Litecoin, despite the fact that the rest of the coins around it are in decline.

Also, the number of the Tron Foundation’s followers on Facebook has now exceeded 900,000. Justin Sun’s number of followers there totals more than 4 mln people. At the same time, Justin Sun has reached another milestone on Twitter: 800,000 followers.

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Top-20 virtual coins

The market situation looks much better a little lower, starting with Binance Coin (BNB). The native coin of Binance has risen by nearly 3 percent (+2.89%). However, the top gainer here is the Maker stablecoin, which has spiked 4.07 percent and is currently holding on to spot #19.

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Bitcoin clone on Coinmarketcap, redditors call CMC unworthy data source

Redditors have spotted a coin dubbed Bitcoiin on CMC, taking position #63 at the time of writing this. The asset is trading at $1.08, having demonstrated a massive rise by 277 percent over the last 24 hours.

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Redditors in the comment thread are calling this a pump-and-dump scheme, while some are even expressing their distrust in Coinmarketcap, claiming it “a useless metric”.

Tron is Rising Where the Rest Are Falling, CMC Shows Bitcoin Namesake in Spot #64

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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

'Bitcoin symbol and graph.Vector illustration.' image by 123rf https://ru.123rf.com/photo_69329295_bitcoin-symbol-and-graph-vector-illustration-.html?term=bitcoin&vti=njv6v7w01tymanucm1-1-82
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