Crypto markets moving again this Monday; Bitcoin Cash, Litecoin and Tezos cranking, Bitcoin holds gains.
Market Wrap
Monday brings fresh movement to crypto markets and it is upwards following three days of consolidation. A further $5 billion has been added back into crypto assets as the altcoins lead market cap back up towards $180 billion once again.
Bitcoin has spent the best part of the weekend floating around the $5,100 level. Since pulling back slightly on Sunday BTC has registered a gain of 2.3 percent to reach $5,180 at the time of writing. Sentiment is still bullish however more analysts are shifting into the correction camp and predicting a larger retreat for Bitcoin.
Ethereum is moving a little more as it approaches $170 again. The three percent gain has shifted volume levels back over $5 billion and ETH is back over the 100 hour moving average. Further gains are likely providing it can hold these levels above $165.
The top ten is all green at the moment but two altcoins have surged surging during Asian trading today. Bitcoin Cash jumped 10 percent to top $300 once again and take fourth place with a market cap reaching $5.3 billion. Fundamentals have been positive for BCH recently and it continues to outperform its big brother. Litecoin is the other big mover as it pumps 8% to reach $83 and flip EOS once again. The rest have made 2 – 4 percent aside from XRP which has barely moved.
The top twenty is also awash with green and some altcoins are ripping right now. Tezos is one of them with a big pump and Ontology is making a comeback with 5% added on the day. The rest are all climbing 3 – 4 percent on the day as markets move following weekend lethargy.
FOMO: Tezos On a Train
Tezos has surged 18% on the day to reach $1.15 and is today’s top one hundred top performer. The Foundation has updated its charter to improve its governance and Tezos ‘baking’ which is part of its staking based consensus protocol.
Maximine Coin is back on a pump again as it adds a further 15% to yesterday’s gains and Lambda is still on the fomo train with 12% more today. ABBC Coin is the only crypto getting a double digit dump as it loses 12% while the majority of the rest are in the green. Enjin Coin is also pulling back 6% today.
Total crypto market cap is up $5 billion overnight to reach $176 billion and a slow and steady gain of just below 3 percent. Daily volume is approaching $40 billion again as Monday momentum starts to ramp up. The altcoins are commanding things at the moment as Bitcoin dominance drops below 52% once again.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.