Crypto Market Wrap

Altcoin Update: VeChain Pumping, Lisk Lifted on Core Mainnet Launch

Martin Young | August 16, 2018 | 10:00 am
Lisk
Crypto

Altcoin Update: VeChain Pumping, Lisk Lifted on Core Mainnet Launch

Martin Young | August 16, 2018 | 10:00 am

FOMO Moments

Crypto land remains flat, however Ethereum Classic, VeChain and Lisk are pumping.

Yesterday’s bounce from the bottom could not be sustained and any positive market movements seem to be quashed before they can gain any momentum. Total market capitalization has remained the same for the past 24 hours as the bears keep things on the floor.

Bitcoin has held the $6,400 level with no movement on the day, it reached the $6,600 resistance level but failed to break it falling back again. Ethereum has inched up a little from its 2018 low to a touch above $290. The 2.8% gain is pushing ETH back towards its resistance point of $300 where it spent almost three months at this time last year.

Altcoins are a mixed bunch with some falling back again and a couple making solid gains. The top ten is pretty flat on the day, a few are making a couple of percent but Stellar is dropping the most, 3% to $0.216. Ethereum Classic is making a predictably big move at the moment after Coinbase Consumer confirms its listing. ETC is currently up 18% to $14.09 as it looks to reclaim all losses over the past week. Once Coinbase trading begins prices are likely to climb higher as more liquidity enters the market.

VeChain is having a big pump at the moment, surging 30% to $0.010. Aside from KuCoin reopening VET withdrawal services nothing obvious seems to be driving it so it may just be another pump and dump.

Lisk on the other hand has a real reason to by pumping as the project revealed the planned block height for the mainnet release of Lisk Core 1.0.

Lisk is up 16% at the moment to trade at $3.43 however it is still massively down over 75% from its May high of $14. Ontology is also having a better day with a 16% jump to $1.47 as traders snap up altcoins at rock bottom prices. On the flip side Aurora, TenX, Holo, and Pundi X are still getting battered losing 7-8% on the day.

Total crypto market capitalization has inched up about a percent to just over $207 billion. Trade volume has not moved and is still $13.5 billion. The overall trend is still down and there are no strong signs yet of a recovery on the horizon.

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.

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