BTC/USD is changing hands at $10,980, getting ready to retest the psychological barrier of $11,000 for the first time since the sharp sell-off on September 3. As the price broke from the triangle pattern and extended the recovery above the local resistance of $10,700, many bullish BTC traders believe that the coin is on the verge of a massive upside move. However, the technical and on-chain data paints a different picture.
Ethereum is a renowned platform for decentralized smart contracts. Since its launch, the smart contracts network has given life to a myriad of cryptocurrency projects. However, with success comes responsibility and challenges. For Ethereum, the burden comes with supporting programs currently executing on its blockchain, ensuring security and reliability, among other vital things. Similarly, Ethereum has faced several challenges relating to network congestion, scalability, transaction processing time, capacity, and the latest gas fees increase.
Crypto.com had one of the best years in the cryptocurrency industry, establishing itself as a top 10 coin by market capitalization and outperforming the rest. CRO price peaked at $0.191 in August, its all-time high, and it’s currently trading at $0.169 after a brief correction period.
Image sourced from Pixabay
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.