Blog

The broader cryptocurrency market is dealing with robust promoting stress during the last 3-4 days slipping below the $800 billion market cap. However, a number of altcoins like Chainlink (LINK), Tron (TRX), and Litecoin (LTC) have seen renewed investor curiosity thus defying the market correction.

While Bitcoin and Ethereum have been below heavy correction earlier on Monday, oracle service supplier Chainlink (LINK) witnessed a great uptick. As of press time, Chainlink (LINK) is up 5.96% buying and selling at a worth of $6.07. This occurs because the Chainlink tackle exercise is at present on a pointy uprise. On-chain information supplier Santiment reported:

Chainlink jumped a gentle +3% Monday regardless of #Bitcoin & #Ethereum falling. The larger story is the $LINK‘s sudden energetic tackle surge, which started surging roughly when the @FTX_Official fallout occurred, & it’s nonetheless up at one-year excessive ranges.

As of press time, different digital property and altcoins are additionally doing nicely. Tron’s native cryptocurrency TRX is up by 3.6% buying and selling at a worth of $0.05191 and a market cap of $4.7 billion. The altcoin can be buying and selling within the constructive zone on the weekly chart.

Earlier this month, Tron DAO shared an necessary milestone. In the interval between November 7 to November 13, the full variety of accounts related to the Tron blockchain reached 119,949,499 with the full tally of transactions hitting a excessive of 4.19 billion. The blockchain peak for Tron has surpassed 45.83 million with the total-value-locked (TVL) peaking at $12.3 billion.

Litecoin (LTC) is one other altcoin displaying energy as of now and buying and selling 3% up at a worth of $62.07 with a market cap of $4.4 billion. It has additionally flipped Solana to turn out to be the fifteenth-largest cryptocurrency by market cap. In the final seven days, the LTC worth is up by 8%. Earlier on Monday, the Litecoin Foundation shared an necessary milestone for the blockchain.

The Litecoin Network simply processed its 135,000,000th transaction.

Over 11 years of steady immutable, uncensorable, flawless uptime. pic.twitter.com/bMbcp7ecHg

— Litecoin Foundation ⚡️ (@LTCFoundation) November 20, 2022

Altcoins Ethereum Sees Resumed Whale Buying

The world’s second-largest cryptocurrency Ethereum (ETH) has been on the receiving finish of the FTX collapse. The information that an FTX hacker is amassing a big amount of Ethereum (ETH) led to considerations a few huge dump coming. As a outcome, the ETH worth has tanked to $1,100 within the latest market mayhem.

However, on-chain information exhibits that Ethereum whales have resumed accumulation at their finish. On-chain information supplier Santiment reported:

Ethereum’s giant whales (holding $10.9M to $1.09B) have added 947,940 extra $ETH yesterday price ~$1.03B. This is the fifth largest single day add previously yr. The previous 4 cases, $ETH‘s worth vs. $BTC rose an common of +3.2% the next 3 days.

Bhushan is a FinTech fanatic and holds a great aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is repeatedly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and typically discover his culinary expertise.

The introduced content material might embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.