Markets inch up slowly; Tezos, VeChain, and Ontology getting a good start to the week.
Crypto markets have been pretty inactive over the weekend. This is good news as there has not been another drop and total capitalization has actually increased a little and is now just over $215 billion. On the other hand there have been no real signs of a sustained recovery just yet either.
Bitcoin spiked over $100 around ten hours ago lifting it back to $6,500 after spending most of the weekend oscillating around the $6,400 level. It has since fallen back to $6,470 but technical analysis for BTC indicates that a breakout could be imminent. Ethereum has struggled to rise above $300 and has actually dipped below it several times over the past two days. ETH is currently up 1.5% on the day but could climb further, especially if BTC does make moves.
Most of the altcoins are in the green at the moment according to Coinmarketcap. Those in the top ten are showing small gains of between 1-3% with XRP making the biggest move of 3.5% to trade at $0.341. Levels are still very low and the majority of altcoins are still lulling around their lowest prices for over a year.
In the top twenty there are some bigger moves being made with Tezos pumping at the moment. XTZ is currently up 14% on the day trading at $1.55 the spike has come from a Coinone listing announced a few hours ago.
— Tezos Korea (@Tezos_Korea) August 20, 2018
VeChain is having a similar pump of 14% and has been on the up for several days now. VET is currently trading at $0.0141 which is up 58% on the week from $0.0089 this time last Monday. The only other altcoin in the top twenty showing any significant movement is Iota which has gained 7% on the day to $0.527.
Further down the list Ontology is also performing well with a 16% climb on the day and Nano is not far behind, up 15%. In the top one hundred Veritaseum is leading the way with a 26% jump in 24 hours. Reddcoin is also rallying with a 19% climb on the day. The biggest loser at the moment is Cortex dropping 8.5%.
Total crypto market capitalization has inched up just under 2% on the day to around $216 billion at the time of writing. Trade volume is still pretty low however and has remained at $12 billion over the past 24 hours. Bitcoin’s market dominance has actually dropped back a little but is still over half at 51.7%. Markets are at the same level as last Monday and have clawed back all losses since Tuesday’s biggest drop of the year.
More on Tezos can be found here: https://www.tezos.com/
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing one, looking for trends and possible fundamentals.