Crypto Market Update: Focus on Bitcoin (BTC), XRP, Chainlink (LINK), Cosmos (ATOM)

This article provides a quick overview of how the crypto markets have been doing—with the focus on Bitcoin (BTC), XRP, Chainlink (LINK), and Cosmos (ATOM)—over the past 24-hour period.

To give you a rough idea of how things are going today, 42 out of the top 50 cryptoassets (by market cap) are currently in the green (against the dollar).

All market data was taken around 07:30 UTC on 3 October 2019 from CryptoCompare, which also generated the price charts shown in this article.

BTC-USD 24 Hour on 3 Oct 2019.png

In the United States, the aftermath of poor manufacturing and hiring data, which were released this week, continued to cause trouble for U.S. equities, with the Dow falling on Wednesday (October 2) for the second day in a row, bringing its two-day total loss to 838 points.

Bitcoin (BTC), however, is managing to stay in the $8,200–$8,400 range. It started today at $8,394 and at press time is trading around $8,303, which means that it is up 0.68% in the past 24-hour period.

On October 2, Travis Kling, Founder & Chief Investment Officer of Ikigai Asset Management, referred to Bitcoin as an "X-Man toddler":

 XRP

XRP-USD 24 Hour on 3 Oct 2019.png

Although the XRP price is currently $0.248, i.e. lower than the start of the day when it was trading around $0.253, it is still up 0.73% in the past 24-hour period.

On October 2, Ripple announced that Xpring, its investment arm, is set to become "open developer platform for money" and that this new platform "offers a set of tools, services and programs that makes it easier for developers to send and receive payments in any currency, across any network, using the XRP Ledger and Interledger Protocol." 

Ethan Beard, Ethan Beard, Senior Vice President of Xpring, wrote:

Today, Xpring is offering a new Xpring SDK to easily work with XRP/ILP in any programming language, and a variety of tools for development on XRP and ILP including an XRP Network Explorer, a new XRP Ledger Devnet, and a new Testnet for ILP. These are just the first of many developers tools and services that we plan on building.

Xpring also announced that it had entered into a strategic partnership with crypto payment processor BitPay, as a result of which, two things will happen:

  • BitPay will be supporting XRP natively, which will allow merchants that are customers of BitPay to accept XRP as a form of payment, by the end of the year.
  • BitPay Wallet will support XRP.
  • BitPay Wallet will integrate with the new Xpring developer platform.

Chainlink (LINK)

LINK-USD 24 Hour on 3 Oct 2019.png

LINK has been enjoying a strong rally since September 26 when it had an intraday low of $1.572. Between then and now, the LINK price has gone up over 25%.

This recovery has been based on lots of good news in the form of partnership announcements, a couple of recent examples of which are listed below:

  • On October 1, Parallel Markets said in a blog post that it would be "connecting its investor identity data" to the Chainlink network to "help build the first portable investor identity solution available on the blockchain."
  • On October 2, TomoChain announced that it was going to work with Chainlink in order to integrate data-driven smart contracts into its blockchain ecosystem.

Cosmos (ATOM)

ATOM-USD 24 Hour on 3 Oct 2019.png

Since September 29, the ATOM price has gone up over 23% from an intraday of $2.102 to its current price of $2.60.

On October 1, Cosmos tweeted that Regen Network is "working on enabling WASM smart contracts within the #CosmosSDK":

On September 26, Cosmos sent out this interesting "State of Cosmos" tweet:

 

Featured Image Credit: Photo via Pixabay.com