Scan to Download ios&Android APP

E-gold shines, helium (HNT) price inflates despite crypto meltdown


Share this article
In this article:

What You Need to Know

The week ahead update on major market events in your inbox every week. Subscribe
Image containing hallway effect
E-gold shined and the helium price inflated Thursdayt out as major cryptocurrencies struggled. - Photo: Getty Images

Lesser-known altcoin prices rose yesterday with elrond, nicknamed e-gold, and helium in the green on Thursday as the cryptocurrency market meltdown continued following a brief reprieve.

Elrond (EGLD) and helium (HNT) were up slightly in afternoon trading in North America after posting double-digit percentage gains earlier.

Other digital assets – particularly bitcoin – were down noticeably one day after the crypto sector bounced back following the US Federal Reserve’s decision to increase its benchmark interest rate by 75 basis points.

What is your sentiment on BTC/USD?

Vote to see Traders sentiment!


Still in the green

Elrond rose 24% overnight following the Fed’s announcement, reaching $57.50 before retreating, according to CoinMarketCap data.

Helium retreated Thursday after spiking Wednesday night, but still spent most of Thursday in the green during conventional North American trading hours.

Theta, another low-profile altcoin, plunged Thursday, and was down 3.24% in the afternoon, after jumping the night before.

Investors showed strong appetite for the token in advance of its parent network’s upcoming release of 3D non-fungible tokens (NFTs) in conjunction with Sony. The Theta blockchain and Sony are slated to release the Tiki Guy limited edition on Friday afternoon but the buzz surrounding the coin appeared to be short-lived.


HBAR also down

Hedera (HBAR) was also down Thursday afternoon after receiving a little love from investors on Wednesday night.

However, bitcoin (BTC) struggled after popping on the Fed interest-rate hike. Bitcoin was down about 9% and fell below $21,000  – an area that investors have dreaded.


BTC approaches dreaded area

If the world’s largest cryptocurrency falls below $20,000, there will be panic-buying and selling, bitcoin evangelist Andreas Antonopoulos wrote on the Encrypted Technology WhatsApp channel. He said bitcoin has reached oversold territory.

But he added: “The oversold area is likely to attract buyers, which will push prices higher.”

Meanwhile, Ether (ETH), the coin backed by the Ethereum blockchain network, was down more than 10%, and cardano fell approximately 9%. Two other major coins. Binance (BNB) and Ripple (XRP), declined about 8%.

Read more

What You Need to Know

The week ahead update on major market events in your inbox every week. Subscribe
The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Read next

Still looking for a broker you can trust?

Join the 427.000+ traders worldwide that chose to trade with

1. Create & verify your account

2. Make your first deposit

3. You’re all set. Start trading