The cryptocurrency markets especially altcoins have bloomed impressively in 2019. Some of the popular altcoins including Litecoin, Binance [BNB] coin and Bitcoin Cash (BCH) has gained more than 150%. Furthermore, many other cryptocurrencies have increased significantly in value. These have mostly been influenced by a positive fundamental development and influx of investors.
The total market capitalization of the cryptocurrency markets is just below $180 billion. The dominance of Bitcoin has, however, increased over the past week. Nevertheless, while the market continues to weed out the ‘sh!tcoins,’ certain utility coins continue to grow.
Coinbase.com Lists Augur (REP)
Coinbase added Augur (REP) token on coinbase.com on 18th April 2019. REP will be made available to all Coinbase customers, however, New York users would have to initially wait.
Augur (REP) provides a platform for setting up trades and shares for any ‘predictable situation in the world.’ It can vary from elections, sports events, global and environmental events as well. The reporters and traders who predict the outcome correctly gain while the sellers or short traders who go against the report lose.
The price of Augur (REP) token increased by more than 15% after the trading began. The price of Augur at 2: 30 Hours UTC on 18h April 2019 is $21.94. It is trading 13.42% higher on a daily scale.
The blog post also hinted at more listings on Coinbase.com this year:
With the announcement of our new listing process last year, we anticipate listing more assets over time that meet our standards.
BAT Token Rise on Mainstream Popularity
The Brave Browser and BAT tokens have been gaining much traction with the new ads reward system on their browser. The Brave New System of rewards enables direct and transparent transaction of value from add makers, content creators, and viewers. LA Times also registered as a verified content publisher on the Brave Browser recently.
Basic Attention Token official account tweeted:
Great to see
@internetarchive receive “more than 9k Brave Attention Tokens (BAT) – the equivalent of $2500 USD! Every little bit makes a big difference.”
The BAT token rose by over 20% in three days with a high of $0.365 on 18th April 2019. The price of BAT at 3: 00 Hours UTC on 18th April is $0.35. It is trading 8.7% higher on a daily scale.
Institutional Investors Bet Big on Tezos (XTZ)?
Tezos (XTZ) gained mainstream popularity with the Coinbase Custody announcement which also enabling ‘staking’ of the cryptocurrency in March 2019. Staking offers a periodic reward to ‘stakeholders’; the stakes depend on the number of XTZ token held in reverse to secure the Proof of Stake (PoS) architecture. Binance’s Trust Wallet also enabled the staking feature.
This also allowed institutional investors to pour in capital into cryptocurrency via a secure and regulated platform like Coinbase Custody. The official Twitter account of Tezos recently quoted France Finance Minister who praised Tezos (XTZ) as well.
“I am thinking in particular of Tezos which allows the development of a blockchain protocol overcoming the known defects of public blockchains.” Bruno LeMaire, France Minister of the Economy and Finance in interview to Magazine Capital
XTZ gained $1 valuation after gaining 100% since the beginning of the year on 31st March. It has continued its unprecedented rise and gained another 29% since the beginning of the month.
The price of XTZ at 3: 00 Hours on 18th April is $1.29. It is trading 11.2% higher on a daily scale.
Do you think April’s unprecedented rise in these currencies would continue or we will see a fall back in May? Please share your views with us.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com