The cryptocurrency market is currently sitting above the $300 billion range as we start our Wednesday! Most coins are just below the green, will the market rebound as the day progresses?
Yesterday, there were many large announcements within the cryptocurrency space. Coinbase announced that it would add support for the ERC20 tokens. The Litecoin (available on Coinbase) Foundation and Charlie Lee have officially apologized for not doing their due-diligence on LitePay, seeing as it had failed. CoinGate, a European cryptocurrency payment Gateway, just signed a deal with Prestashop. Prestashop is an open source e-commerce solution and now 80,000 European merchants will have access to accept cryptocurrency as a form of payment.
With all that said, most coins are just on the brink of breaking through the percentage gains threshold – let’s take a look at a few.
Ethereum (available on Coinbase) [ETH]
CoinDesk just did a large spread about the sharding protocol that would essentially split the Ethereum (available on Coinbase) blockchain into parts that would aid in its scalability. While this is just in its beginning stages and initial roadmaps are now being discussed, Ethereum (available on Coinbase) coders have been quick to jump at the chance of finding a solution. Hopefully, developers can find a solution by sometime this year as ETHereuem has some fast-rising stiff competition.
Presently, ETH is trading just about the $450 mark, at $451.88 a coin. It is down -2.89% in 24 hours.
A week and a half ago, the Cardano team unleashed the first Cardano 1.1 upgrade but three days ago, Cardano’s founder announced the next upgrade would be right around the corner.
Cardano update 1.2 is on schedule for a mid-April release. Looks like we are finally getting paper wallets. Some more performance and bug fixes as well.
— Charles Hoskinson (@IOHK_Charles) March 25, 2018
As more and more new cryptocurrency investors gain an understanding of these cryptocurrency projects and their roadmaps, less panic selling should occur down the road. There have been many individuals criticizing this project, as it has lost nearly -80% of its value since the first of the year like most cryptocurrencies. However, instead of looking at its price, the focus should be on what the team has accomplished – most of these coins are long-term holds because their projects aren’t expected to be fully completed for years.
At press time, ADA is trading at $0.158 a coin, down -2.66%.