Altcoins Continue to be legitimate Asset Class despite no Altseason Trending

By Steven Anderson August 8, 2019 Off

It seems like the Altcoins might never reach their all-time high price ranges. Whether Ripple, Stellar Lumens or TCAT tokens, this does not dismiss it from being a legitimate asset class.

For Ethereum, the bulls are not crossing beyond the $240 and very strong support is seen in the $219 through $220 area.

Aya Miyaguchi, Executive Director of Ethereum Foundation, recently stated, “This is an exciting time” as the EEA is unveiling the “Mainnet Initiative.” Further details concerning the Devcon5 will be known during October 8 through 11, in Osaka, Japan.

Ripple has seen support at $0.3150 eventually pushing the bearish leg below 0.31. The XRP/USD bulls were gaining traction, and there were positive signals from technical indicators.

The news about FedNow featuring near-instantaneous transactions has created hype and excitement in the Ripple community.

TheCryptoDog tweeted: “Curious to see @Ripple’s response to Fed Now. It’s clear (at least some) $XRP holders are feeling the heat – check Google searches. Not trying to spread FUD, but looking forward to seeing how this plays out. Thanks, @FluidFluxation for bringing this to my attention.” Of note, Ripple has been holding positions in the Feds Faster payments task force for nearly four years, and they have helped it come of shape. They might probably get their share of business in the process.

It was a dull day for TRON (TRX) as the price fell to $0.021. The day was pretty painful for intraday traders. Monero has taken up TRON’s position. The 5-day chart of TRON shows a pick and drop in the price trends of TRON.

Monero (XMR) is likely to fall to the bearish zone. Yesterday, XMR made a bullish move, but it is now down to the baseline. The current bearish trend of the token is not expected to improve any time in the forthcoming months.

Zcash (ZEC) has been recently talking about a development fund to enhance the future operations of ZCash. He recently wrote, “We decided to do this because we thought that having an independent entity from the Electric Coin Company would be an important part of the Zcash community’s decentralization and stability in the long run.” It is expected that a community decision will be made soon.

Tezos (XTZ) has gone up by 30% in just a week, and investors are thrilled to listen to the news. The launch of the coin is likely to take place in 4 stages of the transfer only, post only, limit only, and ultimately to full-trading mode.