However, there are many different cryptocurrencies that all have their own advantages or disadvantages. At CoinCodex, we weigh the price data by volume so that the most active markets have the biggest influence on the prices we’re displaying.īitcoin is the most popular cryptocurrency and enjoys the most adoption among both individuals and businesses. In an illiquid market, you might have to wait for a while before someone is willing to take the other side of your trade, and the price could even be affected significantly by your order.įor smaller alternative cryptocurrencies or altcoins, there can be noticeable price discrepancies across different exchanges. A liquid market has many participants and a lot of trading volume - in practice, this means that your trades will execute quickly and at a predictable price. Cryptocurrencies such as Bitcoin and Ethereum enjoy high levels of liquidity and trade at similar rates regardless of which specific cryptocurrency exchange you’re looking at. Generally, cryptocurrency price data will be more reliable for the most popular cryptocurrencies. These market dynamics ultimately determine the current price of any given cryptocurrency.ĬoinCodex tracks more than 400 crypto exchanges and thousands of trading pairs to make sure that our data is as reliable as possible. On exchanges, traders submit orders that specify either the highest price at which they’re willing to buy the cryptocurrency, or the lowest price at which they’re willing to sell. Depending on the exchange, cryptocurrencies can be traded against other cryptocurrencies (for example BTC/ETH) or against fiat currencies like USD or EUR (for example BTC/USD). This way, we can determine an average price that reflects cryptocurrency market conditions as accurately as possible.Ĭryptocurrency exchanges provide markets where cryptocurrencies are bought and sold 24/7. In the case of Bitcoin, as long as you control the private key necessary to transact with your BTC, you can send your BTC to anyone in the world for any reason.Ĭrypto prices are calculated by averaging cryptocurrency exchange rates on different cryptocurrency trading platforms.
Coin market watch software#
A cryptocurrency wallet is software that manages private and public keys. In order to send and receive a cryptocurrency, you need a cryptocurrency wallet. Proof-of-Work coins use mining, while Proof-of-Stake coins use staking to achieve consensus about the state of the ledger. The two major categories of cryptocurrencies are Proof-of-Work and Proof-of-Stake. While all cryptocurrencies leverage cryptographic methods to some extent (hence the name), we can now find a number of different cryptocurrency designs that all have their own strengths and weaknesses. However, not all cryptocurrencies work in the same way. With permissionless cryptocurrencies, a node can be operated by anyone, provided they have the necessary technical knowledge, computer hardware and bandwidth. LTC has experienced notable capital inflows, indicating that investor interest has remained positive, as evidenced by the Chaikin Money Flow indicator.Cryptocurrency works through networks of nodes that are constantly communicating with each other to stay updated about the current state of the ledger. Litecoin registered positive capital inflows on the one-day chart | Source: LTCUSD on TradingView LTC needs to surpass the immediate resistance level in the upcoming trading sessions to sustain its upward trajectory.
However, the Relative Strength Index (RSI) remained slightly above the half-line, indicating that buyers still maintained control in the market, particularly as the coin held above the crucial support level.įurthermore, LTC remained above the 20-Simple Moving Average line, signaling buyers were driving the price momentum. Technical Analysis Litecoin buyers declined on the one-day chart | Source: LTCUSD on TradingViewįollowing its surge above the $100 threshold, LTC experienced a pullback as it entered an overbought condition. Surpassing the $97 mark would propel Litecoin to challenge the $100 threshold and potentially move beyond the upper boundary of the bearish order block at $103.Ĭonversely, if LTC fails to maintain its current level, there is a risk of breaching the $94 support, which may invite the bears back into the market. The bullish sentiment remained intact for LTC as it managed to stay above the bearish order block (marked in red) formed in mid-April. The immediate resistance for LTC was observed at $97. The altcoin attempted to increase in value after successfully holding the $94 support level. As of the time of writing, LTC was priced at $95.
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