Chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo, had last year very truly stated, “cryptocurrencies are here to stay.” Going by current markets trends, the crypto space is surely being adopted and appreciated by many. This space is gaining confidence by both long term and budding investors, and new strategies and plans are now being adapted to attract institutional investors. Integration of cryptocurrencies into the mainstream economy is supposedly happening much sooner than that predicted by investors across the globe. On that note, here are the top 3 performers for the week in the crypto space.
Going by their market cap value over the past week, Tron appears to be one of the best performers amongst the large coin players. According to the weekly report by the Tron, the company currently has a staggering “150 DApps and more than 300 smart contracts.”
At the niTron Summit, Tron founder and CEO Justin Sun said that he is expecting the number of decentralized applications (DApps) on the network to further increase to 2,000 by the end of 2019.
The TRX/USD pair has shown excellent power as the bulls are attempting to sustain the overhead resistance at $0.02815521. The value of cryptocurrency has been stagnant in this range since mid-August, so a breakout is soon expected to happen. Tron’s immediate target is to get to $0.4. However, it is supposedly going to cross that and might even extend to $0.05218328. Experts believe that it safe for a long position on a close above 0.02815521, with a stop loss just below $0.021
Next in line is Binance Coin, a global cryptocurrency exchange. Since its initiation in 2018, Binance Coin has been making noticeable ripples in the market, particularly in the weeks gone by. It has now been ranked as the 12th largest coin by the value of market capitalization and is titled as the latest exchange to offer crypto-to-crypto over-the-counter trading. The company has also rebranded its Trust Wallet as a multi cryptocurrency wallet. From the market price perspective, a strong resistance in the range of $7.17–$7.7 can be probable. If there is any breakout and close above this zone, it can point out towards a trend reversal.
Litecoin recently unveiled its new tagline “Take control of your money and pay with Litecoin” along with a new logo. The logo was revealed during a UFC event sponsored by Litecoin and received a brilliant response.
If current claims are to be believed, cryptocurrency will start a new uptrend if the price sustains above $40.78. Though a minor resistance can occur at $47.246, above this, the move can extend to $65.561.