It is stated that the waters are getting warmer for three altcoins in the crypto money world. This situation takes its place in expressions with comments that a rally is at the door. So which altcoins are they? Let’s look at our article.
Has Altcoin Casper lit up for the rally?
Altcoin Casper price is down 2% in the last 24 hours. It also reflects broader market sentiment. CSPR rose to $0.063 in April. The technical chart indicates continued strength despite the recent drop. Casper Network’s native governance token, CSPR, has dropped 2% in the last 24 hours. It also rose about 1.5% last week. According to CoinGecko, 30-day gains are hovering around 3.2% as of 11 July 29. On the other hand, CSPR is changing hands at $0.039.
According to the data, daily trading volume has dropped by about 36% in the last 24 hours. Accordingly, it shows that network activities are decreasing. Casper is an L1 proof-of-stake blockchain based on the Correct-By-Construction (CBC) consensus specification and targeted at enterprise and enterprise customers. From the perspective of the broader crypto market, Casper’s price performance over the month is in line with recent struggles in other cryptos. Bitcoin is having trouble getting above $30,000. It is currently hovering around $29,300. Altcoin Ethereum’s attempts to reclaim $1,900 were rejected multiple times.
Sensitivity in the industry
Even XRP, which far outperformed the top altcoins by a large margin after Ripple’s victory over the US Securities and Exchange Commission (SEC), wiped out more than half of the gains seen on July 13, when it rose over 100%. Altcoin XRP has dropped 8% in the last seven days.
Altcoin Casper has traded lower in recent days. However, with sentiment in the industry largely bullish, a return to key levels is likely to yield more gains for hodlers. The growth metrics of the blockchain platform continue to be positive, especially after a recent partnership with US-based regulated broker-dealer INX.
What does cooperation bring?
As part of the collaboration, Casper Labs’ equity will be tokenized. It will also be listed for trading on secondary markets. The firm expects it to be available in September 2023. Other important developments are the update of Casper Wallet. There are also recent announcements regarding integration with fiat-to-crypto onramp Topper.
Investors are impacted by developments that could see greater adoption and demand for CSPR, potentially increasing its price. As seen in the chart above, the technical outlook for altcoin CSPR shows that the bulls are still having the upper hand. Buyers are likely to take control if prices rise above the resistance area marked by the trendline (red).
How will the Litecoin halving affect the LTC price?
The countdown has begun for the altcoin Litecoin halving, one of the most important events in the digital currency world. As preparations continue throughout 2023, the upcoming halving has created significant excitement in the community. While the Litecoin protocol itself requires no special preparation, enthusiasts believe that the halving will have a positive impact on the LTC price in the near future.
This upcoming halving will mark the third time that the LTC blockchain has experienced such an event, with the previous halving occurring in 2015 and 2019. The rewards for Litecoin miners at the event will be halved, from 12.5 LTC to 6.25 LTC. As with other Proof-of-Work (PoW) protocols, the LTC halving is happening organically without the intervention of the Litecoin Foundation. The success of past halvings instills confidence that this event will also yield positive results.
Altcoin LTC price outlook: Bullish predictions amid prudent views
The bullish predictions predict that the halving will support LTC’s potential to retest the previous 52-week high near $114.50. Meanwhile, Litecoin’s All-Time High (ATH) sits at $412.96. Some analysts believe that the price may exceed this milestone in the months following the halving.
While the outlook is optimistic, some analysts urge caution, arguing that the halving could trigger a sell-off for altcoin LTC. The week following the halving will be crucial in determining how high the LTC price can go. It will also make it a closely watched asset for many investors.
Altcoin Shiba Inu climbs to 14th place
After a period of decline, the Shiba Inu has made a remarkable comeback. Accordingly, it regained its place among the top 15 cryptocurrencies by market value. In just 24 hours, the price of the Shiba Inu has increased by over 5%. It has also outstripped cryptocurrencies like Wrapped Bitcoin and Bitcoin Cash. Accordingly, it ranked 14th with a market value of $4.8 billion.
Most cryptocurrencies seem to be plateauing. On the other hand, meme coins like Shiba Inu and Dogecoin are showing signs of resistance. Dogecoin in particular is leading the way with a notable 7.02% gain over the past seven days. The Shiba Inu also gained some momentum, with a significant 293.16% increase in trading volume within 24 hours.
Shibarium-Ethereum testnet bridge launches Shiba Inu surge
The timing of the Shiba Inu’s price increase is also of interest. Accordingly, it coincided with the announcement of a testnet bridge between Shibarium and Ethereum. Shiba Inu originally started as a meme coin to rival Dogecoin. It has since grown into a thriving ecosystem with a loyal community, investors and developers.
The development team behind Shiba Inu aims to strengthen the ecosystem. On the other hand, when we look at cryptokoin.com, it is actively working on a Layer-2 upgrade called Shibarium, which aims to position it as a solid blockchain competitor. Running on top of Ethereum, Shibarium is expected to reduce costs and increase transaction speeds when fully released.
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