Crypto Analyst Issues Altcoin Alert – Plus Ethereum, Ripple and XRP, Litecoin, Cardano
From a new analysis of the altcoin market to Litecoin’s use in the mainstream, here are some of the stories breaking in the world of crypto.
Bitcoin vs. Altcoins
Prominent crypto analyst Willy Woo, who invented the Network Value to Transactions Ratio (NVT), says he doubts alt season will start this summer.
In a series of tweets, Woo says he’s looking for a bullish cross of the 365-day altcoin market cap moving average against Bitcoin.
This is one of my alt-season indicators. A bullish cross of the 365d moving avg of [alt-coin marketcap / BTCUSD]. It's crude and imperfect, but easy to pull up on TradingView. Alt-season is not guaranteed, if it happens I can't see it happening till end of 2019 / start of 2020. pic.twitter.com/mOLFhXqky0
— Willy Woo (@woonomic) July 19, 2019
Woo says the ideal climate for altcoins is when Bitcoin is in a steady bull run with relatively low volatility and warns altcoin hodlers to choose wisely, noting that few alts have performed well across full bull and bear market cycles.
“Key things to look for are a steady and sustained bull run in BTC with good on-chain volume, this creates a low volatility band in BTC/USD due to buy pressure muting all sell-offs. The current regime is not this, it’s been an exchange driven game of trader activity dominance.
And a word of warning in alts. Alts very seldom perform long term across full cycles of bull/bear, only a select few historically have achieved this so far (ETH being one). So long term HODL of alts is not a great idea unless you know what you are doing.”
Ethereum, EOS, Tron
Tron remains on top in the battle for decentralized app supremacy, according to DappReview.
In the last 24 hours, $15.7 million flowed through apps built on the Tron network. Next up is EOS at $11.7 million, Ethereum at $10.1 million and Steem at $11,800.
#DApp Daily Report:
— DappReview (@dapp_review) July 19, 2019
Ripple and XRP
Ripple’s global hiring spree continues.
The San Francisco-based company is looking for a new senior java software engineer in London and has a total of 61 open positions.
— Jim Chauncey-Kelly (@JChaunceyKelly) July 21, 2019
A tweet showing Litecoin being used to pay for popcorn at an AMC movie theater is going viral.
The payment was made using Flexa’s Spedn crypto payment app, which lets users pay with Litecoin and Bitcoin at a long list of mainstream outlets including GameStop, Nordstrom and Whole Foods.
My daughter went with her friends to see a movie today @AMCTheatres and she used the @FlexaHQ #SPEDN app to #PayWithLitecoin. “Dad, send more #LTC for popcorn.”🤔
This might be getting TOO EASY.🤨 #SPEDNChallenge@BoilingPointLTC@legend_zog@johnkim77@jonnylitecoin pic.twitter.com/rIrlX7OiDp
— CLINT WESTWOOD (@_CLINTWESTWOOD_) July 21, 2019
A new episode of The Cardano Effect podcast is out. This edition talks with four Cardano community managers about their efforts to support and grow the smart contract platform.