If you have read the news today, you might note that the markets seem to be involved in a positive upwards trend. Green certainly is the colour of the day. The movements of Bitcoin, Ethereum and Ripple are most commonly noted as being the most important when it comes to looking at how the markets are behaving. This tends to be because, a lot of the time Bitcoin especially tends to be responsible for leading the markets, whatever Bitcoin does, tends, to be reflected back down across the markets. Obviously there are many exceptions to this which we don’t need to go in to, but, overall Bitcoin is the boss and that’s that.
It is however important to point out that locking into the top 3 or so coins to carry out market analysis is narrow minded and that often, when the big coins do well, smaller alt-coins do even better.
So, let’s take a look at three coins that are making impressive movements todays.
Stellar has had a very good week, it is ramping up the pressure on rival Cardano through its consistent gains this week, overall we have seen a positive trend from Stellar that thus far, doesn’t seem to be coming to an end. At the time of writing, Stellar stands at $0.35 and is up 10.79%. This is fantastic news for the Stellar camp and puts the currency on a trajectory up to it’s important $0.50 target. Perhaps this will come sooner than we think.
Another Bitcoin spin-off that is doing very well this week. During the mid-April market surge, Bitcoin Private saw its market cap absolutely sky rocket, the value of the currency soon followed. Now, at the time of writing, Bitcoin Private stands at $30.94, up a huge 24.60%. This is off the back of a week of constant gains for Bitcoin Private, breaching the $30.00 is a good indication for the future of this currency. With gains expected to continue, maybe we will see Bitcoin Private hitting triple figures in a few months.
Finally, slightly further down the market we have WAX, another currency that has made significant progress this week and thus seems to be experiencing a week long surge. At the time of writing, WAX stands at $0.37, up an impressive 19.67%. WAX hasn’t stopped climbing this week, evident when you note that WAX was hitting around $0.23 at the start of the week. With a similar progression to Stellar, perhaps WAX will also reach the $0.50 target over the coming days. Maybe, just maybe, WAX will even breach $1 or $2, as it did in the cryptocurrency boom at the start of the year.
The progression of such a wide variation of coins is testament to what has been a very positive week in the cryptocurrency universe. With tomorrow offering further gains and the possibility of a second bull run taking us into the weekend, these three currencies should stand out, should they continue on the trajectory they have set themselves this week.