Altcoins News
By Maheen Hernandez
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Altcoins registered 34% losses for several Altcoins on Bloodbath. The price of the Altcoins were bleeding heavily.
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Ether (ETH) dropped by $50 to eventually touch the price point at $156 per hour. This accounted for a loss of 24%.
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XRP went down below the $0.25 price point. This was a 16% loss from the intraday high of $0.28 back down to $ 0.234 in a single day.
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EOS was down by 29%, BCH by 24%, Cardano (ADA) and Tron (TRX) down by 23%. Analysts are predicting the price of the Bitcoin crashing towards $7,500.
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DiPasquale recently sated “Ultimately, Bitcoin’s fundamentals remain strong and we expect the price to recover back towards $10,000 in the coming days.
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Justin Sun recently declared that they are planning to bring in a new TRON PoS mechanism. The new plan is based on staking rewards.
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Justin Sun tweeted: “The new implementation should provide for a fair, decentralized distribution of staking revenues, encouraging greater user participation and smoother…
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He further clarified that improved backing and stake ratio will likely make the network active than before, eventually providing for an economic system that is more concrete.
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The upcoming TRON upgrade is set to provide with unlimited scaling capacity with Pos providing for increased user participation.
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One of the large XRP holders have transferred $250 million and this has left the investors wondering if XRP is planning yet another dump.
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However, one of the tweets projected a different opinion, which read: “Transfers of this size have happened plenty of times before (especially to institutes with Bitgo wallets).
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The EOS has successfully executed its hard fork and the prices have been falling despite the recent upgrade.
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NEO is scheduled for an upgrade in an attempt to facilitate cheaper transactions with a blockchain model that is faster powered by a unified transaction model.
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