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The Leading Gainers of The Kryptonate Market

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The kryptonate market showed this Wednesday, July 18, a general increase that has led to different altcoins such as Stellar (XLM), Cardano (ADA), OmiseGO (OMG) or Zcash (ZEC), to star in increases in its price that range between 10% and 53% in the particular case of Bitcoin Diamond (BCD). The total market for crypto assets reached a value of more than $296 billion, according to CoinMarketCap, with 55 of the 100 most capitalized cryptomes at least 5% higher.

In order to know the causes that are generating this behavior, two types of factors must be mentioned that come into play. The first is the global aspects of the ecosystem itself, which include the good times the market is experiencing and the momentum it has taken over the past few days. The second relates to each particular crypto and the announcements that have been made over the past week that have had a positive impact.

This is the case, for example, with Stellar, the sixth most important currency according to market capitalization. This organization received a certification on Tuesday to use DLT technology in Islamic financial institutions. The volume of trading over the last 24 hours for this cryptomoney was over $200 million, which led to a rise of 27%. However, at the time of writing the price shows a slight correction and is 10% different from the previous day.

The market’s enthusiasm also knocked on Cardano’s door, which experienced a 13% jump on Wednesday, although it already shows a slight correction. The increase, which has lasted several days, could be due to Coinbase’s announcement that it was considering adding it to its platform as well as Zcash, Stellar itself, Basic Attention Token (BAT) and 0x (ZRX).

Cardano also showed a considerable rise, which has been sustained over the past week.

In the case of OmiseGO, which rose 5%, the cause of its rise could be the announcement made on Wednesday by the executive director of McDonalds in Thailand, Hester Chew, who said his partnership with this platform has been successfully implemented. The performance of this currency has been very uneven over the last day and is currently showing a slight correction.

As you may recall, McDonalds’ subsidiary in this country reached an agreement last September establishing the use of the cryptoactive payment service provided by OmiseGO.

In the case of Dogecoin (DOGE), which experienced a jump of more than 23%, the reason for the rise would be related to the announcement made on Monday by the Robinhood trading platform, which was announced through its website that will offer support for this kryptom currency.

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The Leading Gainers Of The Kryptonate Market. (2019, April 10). GradesFixer. Retrieved December 6, 2021, from https://gradesfixer.com/free-essay-examples/the-leading-gainers-of-the-kryptonate-market/
“The Leading Gainers Of The Kryptonate Market.” GradesFixer, 10 Apr. 2019, gradesfixer.com/free-essay-examples/the-leading-gainers-of-the-kryptonate-market/
The Leading Gainers Of The Kryptonate Market. [online]. Available at: <https://gradesfixer.com/free-essay-examples/the-leading-gainers-of-the-kryptonate-market/> [Accessed 6 Dec. 2021].
The Leading Gainers Of The Kryptonate Market [Internet]. GradesFixer. 2019 Apr 10 [cited 2021 Dec 6]. Available from: https://gradesfixer.com/free-essay-examples/the-leading-gainers-of-the-kryptonate-market/
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