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Tron, Stellar, and Binance Coin Prices Start to Spike After Intriguing Flat Week in Markets

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  • Darryn Pollock
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    While the markets have been trading sideways for the entire week, there are signs that a breakout could happen through Tron, Stellar and Binance Coin

Tron, Stellar, and Binance Coin Prices Start to Spike After Intriguing Flat Week in Markets
Cover image via u.today
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A look at the price of Bitcoin over the last week shows an almost perfectly flat price variation with the coin barely breaking out of a $100 range. With Bitcoin being the head that usually leads the entire market, it has been mostly a flat week for the majority of coins.

However, as the week draws to a close, there are small upticks being noted in some key altcoins that have been active in the past few months, with big news and good market movement.

The likes of Tron, Stellar, and Binance Coin are all showing small upticks into Friday, which could possibly mean a rally is imminent for these coins, especially with a more bullish sentiment emanating around the market this week.

At a similar time last Friday, the price of Bitcoin spiked from $3,400 to almost $3,700 over a short period, where it quickly equalised. Not much has been attributed to this growth spurt, but if the above-mentioned altcoins can drive their price up over the weekend and into next week, the positive sentiment may swell to more of the market.

Different weeks

Tron has had a busy week with a number of big news stories crossing its path; this has seen it both rally and fall over the past seven days. Predominantly, it has been in correction mode, dropping from $0.026 to $0.023, but today it has started its uptick.

Stellar is another coin that has had an up and down week with constant spikes in price through the last seven days, but overall, it has been in regression. That being said, Stellar is also showing the biggest start of a spike, with its price going from $0.075 to $0.079.

Binance Coin has been one of the most successful coins in 2019, and even through this week it has gone mainly up, although it did hit a bit of a hump halfway through the week, dropping down slightly. Now, with its own uptick, the coin is up a full dollar, from $8.40 to $9.40.

Altcoin season

With Bitcoin being mostly steady in 2019, not showing much volatility, people are looking to other coins to try and drive the market. It is unusual for altcoins to affect the market, but it is possible, and looking at the current charts and the three coins mentioned, there is every chance that there could be a rally next week off these movements should they continue into the new week.

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About the author

Darryn Pollock is an award winning  journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach.  He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.

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Bitcoin Price Hits $10,000 on Obscure Cryptocurrency Exchange

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    The price of Bitcoin randomly surged to $10,000 on the FTX exchange

Bitcoin Price Hits $10,000 on Obscure Cryptocurrency Exchange
Cover image via u.today

Bitcoin once again touched the coveted $10,000 price level, but this only happened one the FTX cryptocurrency derivatives exchange.

At press time, the top coin is sitting at $8,744, according to CoinStats data.   

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The enormous price spread prompted some Twitter users to accuse the exchange of manipulating the crypto market. 

Ironically, Sam Bankman-Fried, the CEO of the exchange's parent company Alameda Research, asked CoinMarketCap to include FTX on its newly launched list of the most liquid spot markets just hours before the embarrassing candle happened.     

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FTX had already made a lot of buzz in November even before the aforementioned incident. At the beginning of the month, Alamada Research was slapped with a $150 mln lawsuit for market manipulation and racketeering.

This came after an accidental attack on Binance's futures platform that took place on Sept. 15. Since Binance's liquidations are tied to the index price, the market wasn't affected, but the plaintiff insisted that the was still significant damage involved.    

Alameda Research quickly dismissed the "nuisance suit," claiming that it had no evidence to back up any wrongdoings. 

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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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