The crypto crowd sure knew how to show their love on Valentines Day. It was a great day in the market with all top 20 cryptocurrencies ending the day with gains. Litecoin was the winner of the game, seeing a 33% gain ending the day at $212. Monero’s XMR was next with 14.98% gains, followed by VeChain at 14.52%. The latter two are lesser known altcoins ranking 13 and 18 respectively in the cryptocurrency market cap ranking. Monero is a privacy-focused coin which has hit the headlines recently thanks to a piece of malware mining it in secret on Android devices. The malware redirects users to websites that tap into a device’s processing power to mine the Monero cryptocurrency. U.S. online news publication Salon has also adopted this unconventional alternative to ads to make money — using a reader's computing power to mine Monero. Monero’s XMR saw the same type of gains and pullbacks other major cryptos were affected by in the past month, and currently making its way back up to key resistance levels. Let’s see how deep the love is for Monero as more people become aware of the malware. Thanks for watching, invest responsibly, and I’ll see you with more updates next time.
For more from Invest Diva, click here
HIGH RISK Investment Trading forex (also known as foreign exchange or currencies) on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, risk appetite, and the amount of your expendable income. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should ONLY invest money that you can afford to lose! You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Forex Diva Trading Opinions Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and education, and does not constitute advice. Forex Diva will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Recommended Content
Editors’ Picks
EUR/USD stays near 1.0800 after upbeat US data
EUR/USD stays under modest bearish pressure and trades near 1.0800 in the American session on Thursday. The data from the US showed that the real GDP growth for the fourth quarter got revised higher to 3.4% from 3.2%, supporting the USD and weighing on the pair.
GBP/USD stays in daily range above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth helps the USD stay resilient against its rivals and limits the pair's upside.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays above 4.2% after upbeat US data and makes it difficult for XAU/USD to preserve its bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.