Following a day of what appeared to be signs of a recovery, crypto markets have fallen once again. The selloff has continued and total market capitalization is below $420 billion and falling, a sea of red is currently dominating all cryptocurrencies. Bitcoin never made it back and has lost 3% on the day trading at just over $9,000 at the moment. All altcoins are bleeding at the moment and only two have actually made gains in the past 24 hours. One that has made its way into the top 25 and is leading the charge during Asian trading is Zilliqa.
Coinmarketcap is currently reporting a gain of 13% on the day for ZIL. All other altcoins are falling but this relatively unknown crypto has made its way into the top 25, surpassing Bitcoin Gold and Verge. Currently trading at $0.16 Zilliqa is up from $0.14 this time yesterday, over the week gains have been a solid 60% from $0.10 this time last Wednesday. The monthly picture for ZIL is an impressive 280% gain from $0.042 this time last month. Against Bitcoin ZIL is up 17.5% to 1800 satoshis from 1515 sats this time yesterday. Over the week it has risen 58% from 1147 satoshis this time last week.
Singapore founded Zilliqa has been touted as the world’s first high-throughput public blockchain platform, using sharding to scale to thousands of transactions per second. The blurb on its website calls the platform ‘a new smart contract paradigm designed with high parallelism, atomic commits and user-defined security budget’. This altcoin began to climb after releasing its prototype testnet in March. The current spurt is due to OKEx listing ZIL;
— OKEx (@OKEx) May 8, 2018
Binance currently holds the majority of Zilliqa trade with over 60% of the total volume; Huobi is second with 20%. Trade volume in ZIL has jumped from $53 million to $131 million in the past 24 hours. This has boosted its market cap to $1.2 billion and propelled the coin into the top 25.
Total crypto market capitalization has declined slightly over the past 24 hours by 5% to $419 billion. A strong downtrend will be formed if it breaks below $400 billion again. There are no other altcoins posting gains during this morning’s Asian trading session aside from Iota which is up marginally at 2%.
More on Zilliqa can be found here: https://www.zilliqa.com/
FOMO Moments is a 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 possible fundamentals.