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  • ...also for those without kids or are not inherently young at heart, March 2nd is Dr. Seuss's birthday.
  • The price of gold struggles to retain the rebound from the start of the week as longer-dated US Treasury yields hold above pre-pandemic levels. Get your $XAUSD market update from @DavidJSong here:https://t.co/zE7NafvfTq https://t.co/4BxMT0iyi1
  • Uh oh. Another financial product/meme pivot. I think Elon is just a BTD kind of guy who is in tune with the social trading trends and wants to bring the retail crowd along with him. Would fit the essence of Tesla and Space X https://t.co/EP9zj1rXzU
  • Canadian #Dollar Forecast: $USDCAD Bears Fail at Support- March Levels - https://t.co/XkyFns8odx https://t.co/8Q4Tu0viz0
  • I feel the LaserEyes trend is a more effective social spread because of the visual impact. Kind of disappointed the community hasn't gotten a more tangible visual cue for BTD / BTFD. Or maybe there is one and I'm just behind the trend....which happens a lot recently
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.87% 🇨🇦CAD: 0.78% 🇳🇿NZD: 0.45% 🇪🇺EUR: -0.19% 🇯🇵JPY: -0.20% 🇨🇭CHF: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/U3yK9hfDka
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: -0.35% Oil - US Crude: -0.37% Gold: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7dEtLof6us
  • The price of oil extends the series of lower highs and lows from the February high ($63.81) ahead of the (OPEC) (JMMC) meeting on March 3. Get your #crudeoil market update from @DavidJSong here:https://t.co/6hjIL77koa https://t.co/h2gQHVFvaB
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.57%, while traders in GBP/JPY are at opposite extremes with 66.37%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/nb2pDL6nuW
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.38% France 40: 0.24% Germany 30: 0.23% US 500: 0.00% Wall Street: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/VRWeokQ9gk
The Rise and Rise of Altcoins

The Rise and Rise of Altcoins

Nick Cawley, Strategist

Altcoin Talking Points

- Altcoin valuations are surging as investors move into low cash price cryptocurrencies.

- Ripple (XRP) is now eyeing a place in the top 50 most valuable companies in the world list.

The DailyFX Bitcoin Glossary is designed to provide traders with a reference for important terms and concepts essential for understanding the emerging cryptocurrency universe.

Altcoins Surge Leaving Bitcoin’s Place as the Market Leader under Pressure

A range of altcoins – Bitcoin (BTC) alternatives – continue to post daily double-digit gains, sending their market valuations soaring. And a look at the most popular coins show that investors are buying on price as much as on company specifics, hoping to find the next company that jumps from a few cents to tens of thousands of US dollars. In the last month, Ripple (XRP) has surged from $0.23 to $3.79, Cardano (ADA) has jumped from $0.13 to $1.22, NEM (XEM) has risen from $0.27 to $1.88, while Stellar (XLM) has soared from $0.10 to $0.88. And the effect of this surge in interest in altcoins has hit market heavyweight Bitcoin, with BTC’s market dominance reduced from around 55% one month ago to around a current low of 34%.

Cryptocurrency Market Prices and Capitalizations – January 4, 2018

The Rise and Rise of Altcoins

We discussed the rise of altcoins and their current chart set-ups in this week’s Bitcoin and Cryptocurrency Webinar, while DailyFX chief currency strategist John Kicklighter recently noted that the Discrimination between Bitcoin and Top Cryptocurrencies Continues.

Ripple nears Stock Market Stalwart Unilever’s Market Valuation

The second largest cryptocurrency Ripple currently trades with a market capitalization of nearly $147 billion, around $10 billion lower than one of the stock market’s largest and most respected companies, Unilever (ULVR). The British-Dutch multinational employs around 170,000 people worldwide while its products are used by over 2.5 billion people a day. In May 2017, Unilever was worth $144 billion while Ripple was worth $2.1 billion.

Bitcoin/Cryptocurrency Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

If you are interested in trading Bitcoin, Bitcoin Cash or Ethereum we can offer you a wide range of free resources to help you. We have an Introduction to Bitcoin Trading Guide along with a Free Practice Account. I addition we run a Weekly Bitcoin Webinar and have an IG Bitcoin Sentiment Indicator to help you gauge the market and make more informed trading decisions.

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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