XRP, Litecoin and Bitcoin Cash Lead the Rally – Could a Major Market Announcement Be Coming This Week?

Bitcoin Cash Litecoin XRP

Leading payments-focused altcoins are posting green on a red market day. Last updated:

October 17, 2024 11:17 EDT

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Tim Hakki

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Tim Hakki

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Last updated:

October 17, 2024 11:17 EDT

Why Trust Cryptonews With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict editorial standards, ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets. Read more about Cryptonews Crypto markets may be in the red this morning after posting a 2% fall in the last 24 hours, but Bitcoin Cash ($BCH) appears to be rallying, while several other key payment-focused altcoins remain profitable.

As always, original cryptocurrency Bitcoin ($BTC) leads the price movement today with a 1% drop in the last 24 hours to trade at $67,066 as of this writing.

Trading against that is the payments-focused Bitcoin fork, Bitcoin Cash ($BCH), which is up 1.3% overnight and 13.5% over the last seven days to change hands at $366.50.

The only other cryptocurrency among the top twenty by market cap to rally today is XRP ($XRP), which rose 2.4% to $0.5569.

Both Bitcoin Cash and XRP are often touted as handling payments more effectively than Bitcoin, which is traditionally seen more as a store of value.

Users of these cryptocurrencies highlight their faster transaction processing times and lower fees compared to Bitcoin.

Litecoin ($LTC) is another long-established blue chip payments-focused cryptocurrency. In the last 24 hours, LTC shed 0.5% to trade at $71.23.

However, over the last 7 days the coin moved in step with Bitcoin; both added 10%.

Yesterday, Litecoin rose 10% in only 24 hours off the back of news that the month-old crypto investment firm Canary Capital is now filing a Litecoin spot ETF application weeks after it filed one for XRP.

While there is not enough information to confirm whether investors are expecting big moves in the world of payments-focused crypto, the spate of ETF applications and the recent rallies do hint at diversifying demand for crypto.

While Bitcoin Cash Leads Altcoins, Flockerz Reimagines Crypto Communities.

Bitcoin Cash, XRP and Litecoin supporters have never claimed their coins are stores of value, unlike Bitcoin maxis who call their coin digital gold.

That these altcoins are market leaders is a testament to their utility and ease, but their ultimate success is tied to the broader process of global crypto adoption, so it may be years before new investors see tidy profits.

However, in the world of meme coin ICOs, many innovative projects are just launching, which investors can buy into at the start to maximize their chance of landing a 100X investment.

One such offering is the new vote-to-earn (V2E) Flockerz ($FLOCK).

Its presale launched last month and has rapidly raised over $771,000.

Touting itself as “The People’s Meme Coin,” Flockerz offers crypto fans unrivaled staking rewards and community-building incentives that coins like Bitcoin Cash can’t.

Holders of Flockerz (known as “The $FLOCK”) are integral members of a decentralized autonomous organization (DAO) called Flocktopia, where they can draft and vote on governance and improvement proposals.

This structure ensures community consensus dictates the decisions rather than a centralized authority.

Some 25% of the project’s 12 billion $FLOCK token supply is for staking, with the protocol offering stakes eye-watering yield of 2,282% on the tokens they lock up over a two-year staking period.

Who needs wings when you’ve got muscle? pic.twitter.com/HlXI6rGePY

— Flockerz (@FlockerzToken) October 15, 2024

Flockerz is a transparent and fully audited project.

That’s why Coinsult audited its smart contract, to give investors peace of mind.

Furthermore, Flockerz is eyeing up listings on both centralized and decentralized exchanges (CEXs and DEXs), so it has global ambitions, like Bitcoin Cash. The vote-to-earn mechanism will launch after listings.

Hold on, because this $FLOCK is taking off!

Join now. Follow Flockerz on X and Telegram.

Visit the Flockerz Presale Website

Follow us on Google News Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.