Markets are still generally flat; Nem, Zcash, XRP, and Iota climbing, Stellar and MOAC sliding.
Red is still dominating most cryptocurrencies this morning as the slow selloff continues. Downward pressure has eased somewhat though and total market capitalization has not fallen that much overnight, it remains above $210 billion for now.
Over the past 24 hours Bitcoin has dropped a little further falling to $6,365. It remains supported at $6,300 but the weekly trend is downwards and BTC has lost almost 3% on the week. Ethereum is showing no positive signs either and remains in a downwards spiral dropping below $210 again.
At the time of writing all of the altcoins in the top ten are red with the exception of XRP which has added 3.5% on the day to take it to $0.521. CEO Brad Garlinghouse met with IMF’s Ross Leckow at the Singapore Fintech Festival yesterday to discuss developments for the ASEAN region. The rest have lost less than a percent on the day aside from Stellar which is down over 3% at the moment.
The top twenty is showing a lot more activity with NEM surging ahead and posting over a 20% gain on the day to take it to $0.119. XEM took off last night when trade volume surged from $5 to $70 million in a few hours. Coincheck has resumed trading which has driven momentum for Nem over the past 24 hours. Its market cap is back over a billion for the first time in over two months.
Zcash is also performing well at the moment gaining 7% on the day to take it to $135. Also in the green is Iota, up 2% on a Bosch post about bridging data communications from its IoT sensors to the Iota Marketplace.
NEM’s big jump today is the top one hundred’s fomo winner. Joining it at the top is Eternal Token which has spiked 13% as trade surges on the IDAX exchange. Chainlink is also having a good morning, up 12% on the day. At the messy end of the top one hundred chart is MOAC and Waltonchain, predictably dumping their recent gains by 8 and 6 percent respectively.
Total crypto market capitalization is currently at $212 billion with no movement since the same time yesterday. Trade volume remains flat at $13 billion and aside from the odd pump and dump for some of the lower cap altcoins there is little to report, the tedium continues.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.