Altcoins FOMO Fundamental

Asian Cryptocurrency Trading Update: Aeternity Defies the Crypto Crash

Martin Young | May 16, 2018 | 4:55 am
aeternity
Altcoins

Asian Cryptocurrency Trading Update: Aeternity Defies the Crypto Crash

Martin Young | May 16, 2018 | 4:55 am

FOMO Moments

As if a digital switch has been flipped all cryptocurrencies are plummeting this morning. Markets have hemorrhaged $30 billion in less than 24 hours, dropping below $375 billion, and Bitcoin has led the freefall by shedding almost 6%. BTC is heading dangerously close to the $8k support level, currently trading at $8,240. All altcoins have been dragged into the quagmire, many losing double figure percentages. The only coin in the top 30 that is in the green at the moment is Aeternity.

According to Coinmarketcap AE is up 5% on the day while all others around it have crashed. Currently trading at $4.25 Aeternity is up from $4.05 this time yesterday, which is only remarkable because the entire market is freefalling at the moment. Over the week AE has actually lost 1% falling from $4.29 this time last Wednesday. The monthly view is much better with a 140% climb from $1.77 the same time last month. Against Bitcoin AE has made 10.5% on the day to 51380 satoshis from 46520 sats this time yesterday. Over the week Aeternity has increase 7.5% against BTC, up from 47500 satoshis this time last week.

Aside from a new development update there does not appear to be any other factors influencing price action at the moment;

The post states that release 0.13.0 is ready and it comes with a number of new features and smart contract updates. Aeternity is another ‘enhanced’ blockchain project that claims to be an improvement upon existing solutions. It touts itself as ‘a new blockchain technology, designed to deliver unmatched efficiency, transparent governance and global scalability.’

Trade has mostly been on Binance which has almost 40% of the total. Volume has over doubled in the past day from around $22 million to over $52 million. AE is just outside the top 25 at 26th spot with a market cap of $990 billion.

Total crypto market capitalization has taken a beating in the past 24 hours shedding over 7% to $376 billion where it currently trades. Further declines could send it back to the low levels witnessed at the end of March. All other altcoins are in the red this morning during Asian trade. Those taking the biggest hits are Bitcoin Cash, EOS, Nem, VeChain, Bytecoin and Zilliqa.

More on Aeternity can be found here: https://www.aeternity.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. 

Tags: , , , , ,

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Get the app

Featuring live charts, price analysis, breaking news, currency converter and more. The only bitcoin app you need!

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.