Crypto markets still holding steady this Friday; Ripple on a rampage, Bitcoin Cash and SV falling back.
Market Wrap
Crypto markets have maintained their momentum as another week draws to a close. There has been a minor pullback for some of the major tokens but others are doing well today. Total market capitalization has remained above $170 billion as Bitcoin holds steady at $5,000.
Bitcoin fell back to $4,840 a few hours ago but has managed to recover during today’s Asian trading session to reach $5,000 once again. Momentum may by cooling off however as daily volume has fallen back to $17 billion – which is still pretty high compared to the past six months. BTC is likely to consolidate here for a while.
Ethereum has remained flat over the past 24 hours and is still priced just below $165. Volume has dropped back to $7 billion and the week’s momentum appears to have run out of steam. XRP conversely has woken up as the Ripple token surges 13 percent today. The move has taken XRP from an intraday low of $0.330 to its highest level since early January, $0.373. A recent with UK finance firm RationalFX yesterday may have driven momentum. It has also been reported that Gmail users will now be able to send XRP to each other via a new Chrome plugin called MoneyMessage.
The rest of the top ten is pretty flat with only Stellar making more gains today with a 2.3% rise to $0.126. Litecoin has retaken fourth spot as Bitcoin Cash dumps 6% of its recent gains. The top twenty is largely in the green at the moment but movement is marginal. Ethereum Classic is up 4% and Tron is gaining a couple but the rest are pretty immobile. Bitcoin SV is following BCH and dumping 7%.
FOMO: Maximine Coin is Back
Following a huge dump yesterday MXM is alive and kicking again today as the top one hundred’s top performer with a surge of 55% on the day. This altcoin is displaying classic pump and dump chart patterns so the fomo is unlikely to last. Pundi X is also having a spike today as it pumps 25% due to an Upbit listing;
-KRW trading pair is now available on 🇰🇷
— Pundi X Labs | We're Hiring (@PundiXLabs)
There are no double digit dumps in the top one hundred but Aurora is close losing 9%. Dogecoin is also dropping some of its recent gains with an 8% dump today.
Total crypto market capitalization is back up to $175 billion, exactly where it was this time yesterday. An $8 billion slide has been recovered though daily volume has dropped back to $60 billion – which is still at record highs. Bitcoin dominance has also fallen back close to 50% as XRP leads the day’s charge at the moment.
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.
