The picture is pretty bleak during this morning’s Asian trading session. South Korea’s blockade of anonymous trading accounts has caused another selloff and a sea of red confronts traders today. It is that bad that we have to go a long way down the list, which is all hemorrhaging, to find an altcoin in the green. It happens to be one that performed well a couple of days ago, Populous.
According to Coinmarketcap PPT is the only crypto asset in the top 60 that is in the green. Currently trading at $73 it is up 9% on the day and has made strong progress all week. Seven days ago PPT was trading at $47 so it has increased by over 50% in a week that has seen all of its brethren shed value. The charts indicate that PPT made an all-time high of just under $75 two days ago and is approaching that level once again.
The planned end of month beta invoice finance platform launch could still be generating interest and investment in this coin. It has a total market capacity of $2.6 billion, double the $1.3 billion it had on December 31. Hong Kong based Binance is showing the greatest volume of trade at the moment with almost 90% of the total.
Looking at the rest of the sorry state of the markets we can find an altcoin that has taken the least damage during this morning’s big sale. In the top ten only Ethereum has fallen by less than 6% and is currently trading at $1,077. Many of the other coins are showing double figure declines with NEO, NEM and Cardano taking the biggest hits at the time of writing.
A blood moon will rise tonight across Asia; it may be an omen as it has been a bloody morning on the crypto markets here.
FOMO Moments is a new section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.