Crypto land is moving slowly; altcoins gaining today include Bitcoin Diamond, Nem, Bitcoin Gold, and Holo.
Monday morning in crypto land is a positive one for Bitcoin as markets have made more gains since the selloff last week. Total market capitalization has climbed back above $285 billion and is inching towards $290 billion once again.
Bitcoin is dominating at the moment and leading the charge with a 3.3% gain on the day to $7,690. Since last Monday BTC has made over 18% in gains climbing from around $6,500, the next target for crypto’s Big Daddy is $8k. Ethereum has not fared as well there has been no movement in ETH since yesterday, it is still hovering around the $465 level and facing key resistance at $470.
Altcoins are a mixed bunch at the time of writing though the boards are showing more green than red. Gains are marginal and Bitcoin Cash leads the top ten, aside from its big brother, with a 2.5% climb to trade at $813. The rest are up between 1-2% and Stellar and Iota have actually fallen back in the past 24 hours by a couple of percent.
In the top twenty only Nem is showing a half decent gain of around 3.5% to $0.177. Dash and Neo have fallen back again losing around 3%. The top thirty paints a similar picture with most alts trading one or two percent higher or lower than their levels this time yesterday.
Bitcoin Gold is up 6.6% to $30.40 but for the second day it is Bitcoin Diamond surging ahead with a pump of almost 50%. BCD has jumped to $5.25 from $3.50 this time yesterday, adding almost $300 million to its market cap and propelling the coin to 22nd spot in the charts, usurping Qtum and 0x.
The second pump for Bitcoin Diamond in 24 hours is reminiscent of the pump and dumps witnessed in the latter half of 2017 when a fomo driven market lured newbies into the hot coin of the day. The spikes for this coin do not look natural indicating that they could be manipulated. BCD forked from BTC in November last year when it surged to an all-time high of over $90. Since then it slid back into obscurity and lulled around the $2-3 level, however market cap has just surpassed $800 million as this latest spike has breathed the life back into Bitcoin Diamond … for now.
Other altcoins pumping at the moment include Holo up 70% on a Binance listing, Basic Attention Token climbing 23%, and Kin up another day by 17%. Total crypto market cap has climbed on the day by another 2% to $288 billion, gains are slow and steady but an uptrend on the week is the important thing to note. Since last Monday crypto markets have gained 8.3% with Bitcoin taking the lion’s share of it. Trade volume has risen today from $11 billion to $14 billion indicating that altcoins could start to see further gains this week.
More on Bitcoin Diamond can be found here: http://btcd.io/
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.