The cryptocurrency Tixl fell to $0.176 (TXL/USD) today, which is a drop of 8.54% over the last 24 hours. Over the same 24-hour period, the trade volume moved above $190,000, which is an increase of 30.76%.
We are actually seeing a boost in the trade volume for many cryptocurrencies both last week and this week. Some analysts suspect that this could be due to new investment opportunities stemming from China’s ban on cryptocurrency.
How Is Tixl Performing?
Tixl spiked yesterday briefly, up to $0.2043, only to fall today to slightly lower than we have seen since the end of last month. For most of the month, Tixl has managed to stay above the $0.20 line, going as high as $0.3956 early in the month and putting in a great performance. In fact, September has been the strongest month for Tixl since May, which is great news for investors.
That means that this particular crypto has a lot of life left in it, and the cryptocurrency market as a whole is doing well too. Even though Tixl and some other cryptos may be down this week, their recent performance suggests they will not stay down for very long.
Expect to see Tixl move past the $0.40 cent mark very soon, perhaps later in the week, and it could go as high as $0.50 shortly thereafter. A few factors are keeping Tixl and the wider cryptocurrency market down at the moment, including a ban on cryptocurrency websites and Bitcoin mining throughout China, as well as talks from the US Federal Reserve about possibly regulating cryptocurrency or introducing a new official US cryptocurrency.
The market is expected to recover from the Chinese ban as investors from other countries take up the slack. Where the cryptocurrency market goes from there will depend on the decision from the US government and what that decision entails. Until then, the market may be up and down quite a bit in anticipation of US government’s next cryptocurrency move.
Read More: The Price of Tixl Dives, Even as Trade Volume Spikes