Cryptodiary: corrective drop, attempts to grow and take-off at airdrop

June 4

​​​​​​​What happens to tokens and cryptomarket? An overview of the main movements is in our daily heading.

The market starts working week with a fall. Almost all large tokens are «in the red zone».

Investors are cautious with the introduction of new funds to the market after the sharp drop of the market to $300 billion and a similarly sharp recovery. Experts make disappointing forecasts: in the near future a powerful rally will not expected because of fund managers and institutional investors are not interested in entering the market and attracting large funds while «bears» continue the game on a decline. But most agree that now is the time to invest in cryptocurrency, while it is broke because the charts of the rate in the medium term show regular attempts to interrupt the «bearish» trend and under the law of the market one of these attempts will be successful. Short rates at the exchange may not be justified – now the market is fluctuating and it can turn around and go the other way than before at any moment.

Bitcoin (BTC) loses 2.4% but is still holding above $7 500 after the dangerous roll to $7 000. Now the first cryptocurrency is in a narrow corridor − the «bears» want to drop it to $6 000, the «bulls» hope for a level of $8 500 and higher and BTC successfully fools both of them stagnating for a long time on the spot. Now there is a chance for the further growth of the coin despite the decline after reaching $7 750. The level of support now is at the mark of $7 400-7 500 and bitcoin pushing off from it can again exceed $8 000 in one or two steps taking into account corrective recessions. The volume of SegWit-transactions in the bitcoin network has surpassed 44%.

Ethereum (ETH) has lost about 3.6% and has fallen below $600 again. In the morning this cryptocurrency had a breakdown of the descending channel but the success could not be consolidated. The growth could be influenced by the statement of Vitalik Buterin at the OmiseGO AMA conference. He claims that the network of his cryptocurrency will be able to service 1 000 000 transactions using Plasma and Sharding solutions.

Ripple (XRP) loses 2% despite the launch of the cryptoexchange for trading this token by the Japanese financial holding company SBI. The price of XRP now is just over $0.65.

IOTA (MIOTA) fell very strong despite the fact that it showed the best results at the end of last week in the context of the partnership with Norway's largest bank as well as with the key logistics company under the auspices of the United Nations. The correction after the growth by 46% in three days is inevitable but understandable. The fall for Monday was 11.6%.

The same dynamics is shown by Cardano (ADA) that also grew well at the end of last week adding about 10% in five days. Now the coin has decreased by 8% per day to $0.214.

EOS (EOS) that showed a very good growth on this weekend because of the successful launch of the main EOSIO network that was held according to the plans on June 2 has fallen by 9.3% and now it costs $13.58 dollars. Despite the fact that many large companies (and among them even the world's largest Binance cryptoexchange) supported the update of EOS, the coin has not had the strength to resist the pressure of the market.

But there are some coins that are moving against the market. Tether (USDT) demonstrates a small growth. Its launch of the trades paired with TrueUSD (TUSD) served to the hedging of risks when working with this ambiguous stablecoin. At the time of the publication the token has added about 0.48%.

The growth of about 6% is demonstrated by Huobi Token because of the news that the Huobi cryptoexchange opens an investment blockchain-fund in Korea with a capitalization of $93 million.

The leader of the growth in the first hundred is suddenly the DigixDAO (DGD) cryptocurrency that has added 27% because of the announcement of the airdrop (distribution of additional coins to the holders). The developers called not to trust the services of the «free airdrop from DGD» and behave more carefully but the investors are not bothered about this. Having reached $185 the coin was only slightly corrected and currently costs about $180.

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Алексей Захарчук
7 months ago
Н-да, похоже на криптовалютном рынке царит упадок. Согласен с экспертами которые скептически смотрят на возможности стабильного роста биткоина и других криптовалют.
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