Traders have flocked to the new currency and it has seen a 910 per cent increase in price since April 16 to April 20.
Often, they coordinate with these outlets and have a few moles in the forums whose sole purpose is to get people excited about their projects so more start buying their coins, causing the price to rise.
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The buyers will now attempt to push the price to the resistance line of the wedge. If bulls thrust the price above the wedge, the bullish momentum could pick up and the LUNA/USDT pair may reach $62.59.
The crypto community is witnessing impressive growth in the fourth quarter. With several altcoins rising out of the odds. Meanwhile, the dominance of the star crypto is at 41.4%. Numerous newer and lesser-known coins in the crypto industry are giving out impressive returns, leaving out top-tier coins behind the dust.
Although Coinye’s peer-to-peer network remains active and it’s still technically possible to mine the currency, person-to-person transfers and mining activity have collapsed to the point that Coinye is basically worthless.
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For users of Binance.US, while liquidity is not a major issue, Binance does support more liquidity, enabling faster transactions and trades, something which is important for the world’s biggest cryptocurrency exchange. Still, the U.S. platform is still to catch up when it comes to providing users with the same amount of liquidity and ease when trading.
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Privacy coins are among those most being discussed by investors today. Monero is one of the oldest privacy coins. Its whole purpose is to help users keep their transactions completely anonymous. It also aims to be wholly decentralised. Users are able to complete transactions without needing to trust any user on the network.
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But the industry is only in its infancy and constantly evolving. It’s difficult to predict where things are headed long-term, but in the coming months, experts are following themes from regulation to institutional adoption of crypto payments to try and get a better sense of the market.
Li, Q. L., J.-Y. Ma, and Y. X. Chang (2018), “Blockchain queue theory”, in International Conference on Computational Social Networks, 25–40. Springer.
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It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.
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The riskiness is taken a step further when it comes to newer coins because they make you more vulnerable to scams when compared to ones that have been around longer such as Bitcoin.