The cryptocurrency sector endured a torrid 2018, many coins lost over 80% of their value. However, the crypto space is showing signs of life. Bitcoin gained over 150% since the start of the year.
STill well-off their all-time highs, most cryptocurrencies are performing well over the past few months. They are expected to record even more significant gains before the end of the year.
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Latest Cryptocurrency News
This week has been an interesting one for the crypto space. China is famous for its tough stance against cryptocurrency activities and was planning to ban crypto mining in the country. However, the China National Development and Reform Commission scrapped the plan after it published its final catalog Guiding Industry Restructuring earlier this week. This is a massive boost for the crypto space as China continues to lead in terms of cryptocurrency mining.
Similarly, the number of Bitcoin buyers from Square’s Cash App doubled in the third quarter. According to the Square, first-time BTC buyers have almost doubled, a sign that cryptocurrency trading is becoming more mainstream.
There is other positive news coming out of the crypto and blockchain space, and it’s helped push the price of the cryptocurrencies higher in recent weeks.
Best Cryptocurrencies to Trade This Week
Although most of the cryptocurrencies are trading in the red zone over the last 24 hours, some of them have been recording substantial gains. Here are the top three cryptos for you to trade this week.
Over the past 24 hours, Tezos has been the best-performing cryptocurrency amongst the top 100. The cryptocurrency is up by roughly 29% against the US Dollar over the last 24 hours.
The market is reacting to Coinbase’s announcement that it’s expanded its Tezos stake program. Coinbase published a blog post last Wednesday revealing that it has launched staking rewards for all Tezos holders on its platforms. This latest development would enable eligible US customers to earn interest on their Tezos reserve for depositing and holding the token on Coinbase.
Tezos has been trading around the $0.80 mark over the past week, but it spiked to $1.39 on Wednesday. The price has since pulled back to $1.18. However, it’s expected to rebound as traders capitalize on the Coinbase opportunity.
DxChain Token (DX)
DxChain Token has been on an upward trend since the start of the week. The cryptocurrency gained over 25% in the past 24 hours. Yesterday, DxChain Token was trading at $0.000732 per coin but has gone up to currently trade above the $0.0009 mark. There is no latest announcement from the DxChain Token development team.
This crypto is rallying. With the token price still a fraction of a dollar, DxChain might continue its bull-run over the next few days. Overall, the cryptocurrency market is bleeding at the moment, but DxChain Token is one of the few cryptocurrencies still is trading in the green.
Swipe token is another cryptocurrency that is performing excellently over the last couple of days. The crypto is up by 12.23% against the US Dollar in the previous 24 hours, and it also recorded gains against Bitcoin and Ethereum. It was trading at $1.10 yesterday but has gone up to trade at $1.24 per coin currently.
The increase in the token’s price could still be a reaction to the recent announcements by the Swipe team. Two weeks ago, Swipe, which provides users with high-level security for their digital assets, revealed that it had added BitGo as a custody provider. The partnership will help Swipe safely store their crypto assets.
Last month, the Swipe team also announced a partnership with Coinbase Custody. Under the terms of the deal, Coinbase Custody will provide custodial services on its customers Swiper deposits. The move boosted Swipe’s credibility and reassured users of the platform’s security.
More Hot Cryptocurrencies
Cryptocurrencies have recovered some of their value since the start of the year, but they still have significant upside potential. Stay tuned to the Dork to keep track of the top cryptocurrencies to trade. Follow us on Twitter and Facebook for trending stock market news. And, sign up for Dork Alerts to get all the hottest stock picks delivered right to your inbox.