Though the markets have created a number of problems for investors over the past few days, we all have to remain optimistic in the knowledge that this fall is not as a result of a failed industry, instead, this is simply down to the bumpy and volatile nature of cryptocurrencies. When we tell you then investment is risky, the events of this week really do prove our point. When things look positive, they can come crashing down in an instant, with no real motivations either. Crypto is a risky industry, yes, we love it, but we also need to be wary and be careful when engaging with it.
Remember, only invest what you can afford to lose, do your research and trade safe.
Despite these events, positive news continues to surface, news that continues to place cryptocurrencies on the map, heading towards a very positive future. This week, the stand out cryptocurrencies for ourselves our Stellar XLM, Ethereum Classic ETC and TRON TRX. Of course, the news this week has been filled with news regarding the recent Bitcoin Cash fork and the new Bitcoin Cash SV token, as well as news about XRP, frankly though, we have been saturated with it this week, so, to ease you into the weekend, we’re going to take a look at some of the underdogs.
Stellar have had a great week, with positive news leaking all over the place. Foremost, we have seen news straight out of the United Arab Emirates that suggests XLM adoption is growing in the country. Dubai based cryptocurrency exchange, BitOasis have announced that they are now offering Stellar XLM within their exchange, allowing users within the UAE and neighbouring Kuwait, Bahrain, Saudi Arabia and Oman to access Stellar as an investment.
According to the official BitOasis announcement:
“We are very pleased to announce that Stellar (XLM) is now available on our digital asset trading exchange platform! You can now buy, sell and trade the XLM-AED pair on the trading exchange with 0% trading fees until November 27, 2018. In order to start trading XLM-AED, simply fund your account using our online money transfer option and place market, limit, stop, and stop-limit orders to start trading.”
The good news for XLM didn’t end there, earlier on in the week during the main part of the price crash, we actually saw XLM move up the rankings by market capitalisation, sneaking above Bitcoin Cash and following the trend set by XRP which recently surpassed Ethereum by market cap. Since then, the markets have balanced back out, allowing Bitcoin Cash to move past XLM, the same can’t be said for Ethereum though, which now sits comfortably under XRP as a result of the recent market conditions.
Ethereum Classic ETC
The good news doesn’t stop there, the same can be said for Ethereum Classic. Whilst ETC’s movements have been less dramatic than those seen by XLM, we have still seen a number of positive news reports surface as a result of good movements made within the ETC blockchain. This week, came the announcement of a round of funding from the Ethereum Classic Cooperative for a project known as Project Goerli. It seems that the cooperative have issued a grant to a team of developers under the name Project Goerli that plan on fixing problems within the Ethereum Classic testnet. If all goes well, Project Goerli may well transform the way other developers use the Ethereum Classic blockchain. The aim for Project Goerli is:
“Ensuring that issues such as a need to mine own blocks, client incompatibility and other general difficulties can be ironed out of projects within the Ethereum Classic network. Since the Ethereum Classic Cooperative are so keen to see this project through, according to their press release, the cooperative have rewarded Schoedon, Hyman and their team $125,000.00 to continue progressing their project with the hope that a new PoA testnet will be ready for rollout in around six months time.”
$125,000.00, not a bad wage for 6 months work, is it?
Once again, TRON TRX has hit the headlines with further positive developments, in line with TRONS very adventurous roadmap and plans for the future. Despite falling value and the collapsing market, TRX has managed to achieve a collaboration with the Huobi Wallet, meaning that now Huobi will support the storage of TRX through their wallet system.
This is good news for TRX adoption, as it gives TRX investors and holders a new way to store their cryptocurrency and moreover, gives Huobi wallet users access to a new asset, one that seems to be growing at a very exciting rate. It can be said that we are sure that support from the Huobi wallet will ensure a new wave of TRX investment in the future.
As you can tell, this has not been the most promising week for crypto in terms of value. However, as we can see, many cryptocurrency products and projects still continue to grow and still continue to make positive progress despite falling values. This is inspiring confidence in investors and the entire crypto community on the whole. It’s great to see that even through the hard times, crypto still continues to flourish!