The crypto markets are in the red again on Tuesday, with the likes of Primecoin (XPM), Bitcoin Private (BTCP), and Stellar (XLM) down. Meanwhile, IOTA has shot up, currently up more than 10% in the past twenty-four hours. Today, however, we are going to be focusing on the ships that are sinking. Specifically, Primecoin (XPM), Bitcoin Private (BTCP), and Stellar (XLM).
Primecoin (XPM) is currently selling for $2.24. This puts Primecoin (XPM) down 18.98% in the past twenty-four hours. Right now, Primecoin (XPM) has a market cap of $52.85 million.
Last week, news broke that Primecoin had been selected to become the basis for a forthcoming merge-fork of BTC. It was announced the name was to be Bitcoin Prime. Then, the fork was confirmed, which caused the price of Primecoin (XPM) to plunge. The Bitcoin Prime merge fork has no set date as of right now, and a few reports questioned last week whether the Primecoin (XPM) price will tank again in the days leading up to the remaining announcements.
Yes, the Bitcoin Prime Fork is happening. We are happy to announce our website release. Check us out at https://t.co/NhRnXnUOyU. Stay tuned, there is plenty more to come! #BitcoinPrime #PrimeConsensus #Primes pic.twitter.com/VMaTsMsK2B
— Bitcoin Prime (@BTCPrimeCoin) May 2, 2018
Tuesday has seen no announcements regarding the fork but Primecoin (XPM) certainly is down.
Bitcoin Private (BTCP)
Bitcoin Private (BTCP) is currently selling for $25.96. This puts Bitcoin Private (BTCP) down 11.49% in the past twenty-four hours. Bitcoin Private (BTCP) has a market cap of $530.24 million.
Both positive and negative things are happening in the Bitcoin Private (BTCP) world right now. First, we’ll start with the negative. Bitcoin Private has come forward and said there are scam sites pretending to be the official BTCP wallet, so its warning its users to never input their private key into any website that is not BTCPRIVATE.ORG.
Meanwhile, yesterday, Bitcoin Private alerted its followers on Twitter (all 50.4K) that its contribution team had a meeting on the weekend and they started testing a proof-of-work change. This is thought to “enhance BTCP’s ASIC resistance.” Changes to the network may be made within the month.
Over the weekend our contribution team wrote and began testing a proof-of-work change that will enhance BTCP’s ASIC resistance. We are prepared to upgrade the network within the next month if community consensus continues to favor this course of action. https://t.co/a89J5GkWFI
— Bitcoin Private (@bitcoinprivate) May 7, 2018
Stellar (XLM) is currently selling for $0.385404. This puts Stellar (XLM) down 0.48% in the past twenty-four hours. Stellar (XLM) is ranked as the 7th largest cryptocurrency by market cap.
Stellar (XLM) is a cryptocurrency that has been getting a lot of investor attention lately. Many believe Stellar (XLM) will move past Ripple (XRP) after the team goes live with the Lightning Network on the 1st of December. Speaking of Ripple (XRP), the altcoin is currently down 1.39% in the past twenty-four hours.
The latest announcement regarding Stellar (XLM) came last week, on May 1. Last Tuesday, Bitifinex announced that it is now trading Stellar (XLM). This caused Stellar (XLM) to jump 11% in a couple hours.
— Bitfinex (@bitfinex) May 1, 2018
The Primecoin (XPM), Bitcoin Private (BTCP), and Stellar (XLM) Takeaway
Were you surprised to see these three altcoins trading down today? Let me know.
Featured Image: twitter