Investors Ditch AVAX for BlockDAG’s Robust Security; Litecoin’s User Base Hits New Heights
The post Investors Ditch AVAX for BlockDAG’s Robust Security; Litecoin’s User Base Hits New Heights appeared on BitcoinEthereumNews.com.
As cryptocurrencies navigate through varying fortunes, Litecoin captures attention with its significant growth, while Avalanche faces hurdles. From June 1 to June 16, 2024, Litecoin’s increase in active addresses reflects strong user engagement, contrasting with Avalanche’s bearish trends and price drops. Amidst this, BlockDAG shines with its secure and user-friendly blockchain innovations, establishing itself in the market with tools that streamline digital transactions and token creation, carving a unique niche in the evolving crypto landscape making more than $54 million in presale. Litecoin’s Positive Momentum in June Between June 1 and June 16, 2024, Litecoin (LTC) shows signs of strong market presence, with its total addresses growing from 283.80 million to 287.42 million, indicating vibrant network activity. This growth is highlighted by significant spikes in new addresses on June 4 and June 13, suggesting an uptick in interest and potential new investments. Additionally, the HODLer Net Position Change metric points to ongoing accumulation by long-term holders, reinforcing a bullish outlook and bolstering confidence in Litecoin’s future prospects. This collective data paints a picture of a thriving community and growing demand for Litecoin. Avalanche’s Downward Trajectory Avalanche (AVAX) is on a downtrend, with key indicators like the Long/Short Ratio standing at 0.79, showing a dominance of short-sellers. The price has fallen to $32.16, marking an 11.5% decline over the past week, coupled with a 10% drop in trading volume. Technical indicators such as the ‘death cross’ in the Exponential Moving Averages and a negative Directional Movement Indicator suggest potential further losses, signaling tough times ahead for AVAX. BlockDAG’s Pioneering Approach BlockDAG is rapidly emerging as a pivotal player in the cryptocurrency world, renowned for its stringent security measures and its groundbreaking platform that simplifies blockchain application development. Its low-code/no-code platform allows users to easily create utility tokens, meme tokens, and NFTs,…
Filed under: News - @ June 28, 2024 7:16 am