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The new talk of the crypto world was the bullish trend of bitcoin. But after the news broke that regulators had rejected a proposal for a crypto exchange-traded fund for the second time, bitcoin was trading down 1.2% at $8,068. The bitcoin rally brought a volatile price swing in the price of the cryptocurrency which affected all other major altcoins.
On July 20, bitcoin was seen trading at a price of $7,467. After the rally, the price spiked up to $8500. At the time of writing it is seen trading at $7,926.
Crypto analyst predicts that, despite the current market scenario, the price will rise above $8000 soon. Bitcoin is still up 40 percent from the low of $5,755. Analysts predict that the price will hike gradually and the bullish trend will continue in the crypto market.
Cardano CEO, Charlie Lee, recently revealed, “I would love to see Cardano as the first trillion dollar cryptocurrency and the reason being is that that would effectively mean that we have built a self-sustaining economy.”
According to reports, every Cardano supporter strongly believes that Cardano will be the first cryptocurrency to touch the trillion dollar mark. The Cardano community shares the same opinion. Hoskinson pointed out that Cardano users are concerned about its development, unlike other currencies, where the focus resides mostly on trading. This factor will help Cardano’s trillion dollar dream.
Amid all these, Cardano has faced a major set back due to the U.S. Securities and Exchange Commission (SEC) rejection an to list a bitcoin ETF. In the past 24 hours, Cardano price dropped from $0.172 to $0.159. ADA is currently trading at $0.159. There was a drop of 8.31 % over the past 24 hours.
The price of Cardano (ADA) has started to decline against the USD trading around the $0.1600 key support area. A bearish trendline with resistance at $0.1720 was formed. The Cardano (ADA) to USD trading pair will face more declines below the support at $0.1600. If it resists holding at $0.16, the price may drop even lower to $ 0.15. The price broke the $0.1700 short-term.
Stellar Lumens [XLM] has been making waves in the cryptocurrency space, with the coin rising even higher amid positive developments. The most notable development happened last week, with IBM confirming that Stellar’s digital asset was currently being used by a couple of the biggest banks in foreign exchange corridors.
In the last month, the coin’s value has climbed as much as 60 percent. The last one week saw the virtual currency’s price jump nearly 30 percent. This development came to the fore soon after Stellar’s partnership with Blockdaemon, a Node Deployment and Management Service firm used for blockchain applications.
Stellar has experienced another price hike totaling 6.61% over the past 24 hours of trading. It was trading at a high of $0.033. Later in the day, the price dropped to $0.31. There was a drop of 7.8% over the past 24 hours.
The graph shows, 7-day price variations of Stellar lumens. On July 20, it was seen trading at a price of $0.287 and later in the week, there was 6.44% price surge. At the time of writing, it is trading at a price of $0.302 with a market cap of5,680,638,295 USD.
The EOS’s mainnet was launched just a month ago and it has already reached the big leagues in terms of value. The cryptocurrency has seen a number of significant developments, the most important one being billionaire Peter Thiel’s recent investment in Block. one, the company behind the digital asset.
The price of EOS reached a bearish trend after falling to a low of $8.1. Earlier it was trading in the bullish trend above the range of $6.5 and $8 for quite a long time. The price of EOS is currently below the 26-day EMA and the 12-day EMA. This shows that the bearish trend would continue short-term.
The graph depicts 7 days market trend of EOS. On July 20 the coin was traded at $8.32 and now it trading at a price $8.12 with a market cap of 7,277,271,566 USD. Over the past 24 hours, there was a drop of 5.7%, at the time of writing.
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