The crypto market continues to grow. Cryptocurrencies show a steady trend of price increases. Investors are putting more and more funds in it, and the number of transactions on the sites is growing. Consider the dynamics of the movement of several leading coins and their prospects.
Cryptocurrency exchange rates
At the moment, the rate of the Dogecoin cryptocurrency (DOGE) is $0.12. Over the past day, the value of the coin has risen sharply, by more than 100%, and the previous seven days, the price of Dogecoin has increased by 117%. Now there is a slight decline in the cryptocurrency exchange rate, by about 2%. What is the reason for such a rapid growth of the cryptocurrency?
Analysts believe that this increase in the value of the coin is caused by the general situation in the cryptocurrency market, as well as the fact that the number of Dogecoin users has also begun to grow. Do not forget that this currency was repeatedly mentioned by Elon Musk.
What will happen to the cryptocurrency exchange rate in the near future? According to experts, most likely the coin expects a correction in the value of the exchange rate, but how deep it will be is unknown. Perhaps the price will go up again. Analysts' opinions differ on this point. We continue to monitor the dynamics of the Dogecoin exchange rate.
But the Uniswap (UNI) cryptocurrency has a multidirectional movement trend. Over the past seven days, the coin has increased in price by 20%, but over the past day, the price has fallen by 5.2%. Now the value of the coin is $34.
This fluctuation in value may be due to the fact that the situation in the altcoin market is unstable now, and it is unknown how many investors will invest in this segment of the crypto market. At the same time, analysts believe that the UNI will increase in the long term, but not by much. It remains only to monitor how events around Uniswap will develop.
A sharp increase and then a slight drop in the price was also demonstrated by the Ripple (XRP) cryptocurrency. Within seven days, the value of the coin increased by 89 percent, but yesterday the rate fell by 9%. At the moment, the rate is 1.7%.
The increase in the price of the coin is due to the fact that now traders are actively entering this asset, and investors consider it very promising among all the others. according to experts, it is XRP that has all the chances to overcome the ceiling of $2.
At the same time, analysts point out that the cryptocurrency remains an extremely risky asset, since the lawsuits against it in the United States are not over. As soon as it is clear what the courts and regulators will decide in relation to the coin, then we should expect either an increase in value to $3 or a rapid drop down.
It remains only to monitor how the situation around the XRP cryptocurrency will develop.
The situation is more favorable with the Bitcoin Cash (BCH) cryptocurrency. Over the previous 7 days, the price of the coin has increased by 29%, and over the past day, the value has increased by 8%. Now the price is equal to $810. The coin is being pulled up by the situation with bitcoin. Its growth pushes both up and BCH. At the same time, experts point out that it is inevitable to expect a correction in the price of the coin, but it will not be too deep.
As for the Cardano cryptocurrency (ADA), its price is now $1.4. Within 7 days, the price increased by 20%, and over the past day, it increased by another 0.3%. As experts point out, the cryptocurrency will move in an unstable price range, and its price will show multidirectional trends. Analysts believe that the ADA coin will remain in this price range, as the market is a little overheated, and we should expect a correction of most coins.
The TRON cryptocurrency, which currently costs $0.13, is a classic example of a price swing. During the past 7 days, the price has increased by 25%, but yesterday it fell by more than 10%. Experts believe that this is due to the fact that the cryptocurrency has not yet been able to become a serious competitor for ETH, and many projects continue to work with it. Therefore, TRON cannot show good growth dynamics.
We continue to monitor the dynamics of the exchange rate of this and other leading cryptocurrencies.
More - https://coinmarketrate.com/
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