Crypto Exchange April WK2 2018
Almost all crypto coins recovered in the second week of April. Litecoin (LTC), NEO (NEO), and IOTA (IOT) struggled to keep their momentum while EOS (EOS) led the group of cryptos that improved throughout the week. Did Bitcoin (BTC) recover? Find out the price movements in this Crypto Exchange April WK2 2018 roundup.
The Litecoin price struggled to go up after the recent news on the ban of crypto-related ads on Facebook. However, there is a huge chance for the price to move upward after the announcement of Litecoin’s partnership with TenX, a company that offers wallets with debit cards. Another reason for Litecoin’s price gains could be the partnerships with Aliant Payment Systems as well as Abra, a smartphone app.
Just like Litecoin, NEO fluctuated this week. A possible cause could be the volatile trading environment of the crypto coin. But NEO users should not be alarmed. The crypto price could improve in the upcoming days as Bithumb, a Korea-based crypto exchange, is going to start trading NEO.
IOTA also struggled to stay in the bullish pattern this week after an attempt to hack Binance. Although the attempt failed, IOTA’s price fell because of the sudden market dip. The IOTA price, however, can still go up now that it plans to host and develop Sweden’s official cryptocurrency, e-Crown.
On the contrary, EOS showed a positive movement this week. As the crypto coin with the biggest gain this week, EOS is now 6.25 percent away from the fifth spot on the global coin ranking, the current rank of Litecoin. EOS has been going up since last week especially after the EOS network released EOSIO Dawn 3.0, a platform for creating and uploading decentralized apps.
Bitcoin joined EOS in the bullish pattern this week. The reason behind Bitcoin’s comeback is the nearly over tax-selling season. Thomas Lee, co-founder and head of research at Fundstrat, believes that Bitcoin could reach US$25,000 by the end of this year now that users no longer need to sell their coins to pay for their taxes. Thus, the demand for cryptos is high which resulted in the price increase of Bitcoin and the rest of the top 10 cryptocurrencies.