The Top Cryptocurrencies Trend Upwards Except Bitcoin Cash
A quick snapshot of the current coin market capitalization over the past week, shows a clear trend for cryptocurrencies. Highlighted with red arrows, every one of the top cryptos, including STEEM, are ascending in value. Bitcoin hiccuped, but is on its way back up, causing a ripple effect (pun intended) throughout the altcoin shares. The only descending arrow we see is the bitcoin cash (BCC/BCH) trend. While that is largely due to the introduction and stabilization this week, you can see it is actually pretty comfortable around $330 USD.
Looking Closer at STEEM Charts
The black line represents the median value of STEEM combining market cap, price in USD and price in BTC. Individually, they tell a similar story; value is gradually increasing. Focusing on Market capitalization, STEEM stabilized around the $250m mark (1). Since May of this year, we have seen a significant jump in market cap (2) – and relative price.
As seen in a post by @walkingkeys yesterday, Steem may be poised for a big jump. Data including Alexa rank of Steemit, was included in his analysis. The chart above illustrates how this may already be happening.
An Overlooked Top 100 Cryptocurrency
One of the altcoins to keep an eye on is the rare Unobtanium. Only 250,000 coins will ever be minted over the course of 300 years and there are already 197,788 in circulation. The interesting thing about this particular trend chart, is that UNO has seen a pretty stable increase in value since March of this year. Merge-mining with BTC is possible because it uses the SHA256 algorithm. Not particularly profitable to mine or trade currently, but this may be a good long-term investment.