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Hedera Hashgraph, Steem, and Litecoin price: Steem’s 253% surge leaves other coins in the rear view mirror

Akash Girimath

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Hedera Hashgraph, Steem, and Litecoin price: Steem's 253% surge leaves other coins in the rear view mirror
Source: Unsplash

The cryptocurrency ecosystem is like the financial markets in a lot of ways. The main contrast between the two is the regulation, without which, the cryptocurrency ecosystem has a large number of bad actors. Intentional or not, the Steem community witnessed a controversy, involving Justin Sun, the creator of Tron.

Hedera Hashgraph

Source: HBAR/USD TradingView

Unlike a lot of altcoins, Hedera Hashgrap doesn’t seem to be affected by the recent Bitcoin crash. With 1 HBAR token worth $0.031 it is now the 42nd largest cryptocurrency with a market cap of $117 million. The token’s on-balance volume is $1.5 billion and has stayed at this level since mid-February 2020. 50 and 100 DMA [yellow and blue] has contained the price for now.

Steem

Source: STEEM/USD TradingView

Steem surged by a massive 253% between February 18 and 19, 2020. Although the price did shed 90% of this surge, it provided people with an opportunity to profit, at least for the short term.

With $0.14 per Steem token, it takes the 60th spot in terms of market cap [$65 million]. The Stochastic RSI indicated a bounce from the oversold zone and into the normal territory.

Litecoin

Source: LTC/USD TradingView

Litecoin’s price, at press time, was $38 and had a market cap of $2.48 billion. The coin, however, is witnessing a rather slow yet bullish wave and from the chart, more is to come. RSI indicated a surge with a higher degree of slope as compared to the price thus indicating a short term bullish scenario for the token in the future.

Source: Coinstats

In the last 24 hours, however, Litecoin seems to be on a decline, especially after hitting a local peak at 04:00 UTC.

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Akash is a full-time cryptocurrency writer and an analyst at AMBCrypto. He is an engineering graduate with an avid interest in finance and economics. Attracted to the chaos of trading, Akash has invested in BTC, ETH and XRP for educational purposes.

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