Crypto FOMO

Crypto Markets Sluggish on Saturday as Bitcoin Increases Dominance

Martin Young | August 25, 2018 | 8:43 am
tech fomo
Crypto

Crypto Markets Sluggish on Saturday as Bitcoin Increases Dominance

Martin Young | August 25, 2018 | 8:43 am

FOMO Moments

Markets are meek today; Monero, Lisk, and Nano inch up, Bitcoin Diamond dumping.

As we enter the weekend in crypto land markets have remained relatively stable and have even made a little upward progress. Total capitalization has crept back over $215 billion but no real motions have been seen to spur a measureable recovery.

Bitcoin has recovered all losses since the SEC announcement in the week which is a good sign. BTC is up 2.7% on the day to trade at just over $6,700. On the week it has made just 3.4% however and needs to pass $7k for any real momentum to gather. Ethereum has stalled once again and has not really moved over the past few days getting stuck at just below $280 on the day.

Altcoins are largely in the green according to Coinmarketcap, however gains are marginal once again today. In the top ten only Monero is showing a quantifiable gain on the day climbing 4% to $93, the rest are between 1-2% higher and some such as XRP and XLM haven’t moved.

There is very little going on in the top twenty with Binance Coin and Zcash showing the largest gains of just below 4%. None of the other cryptos have really moved a lot in the past 24 hours. Further down the list are Lisk and Nano which are both climbing by around 14% at the moment. LSK is trading at $5.26 while Nano is at $2.45, still very low levels for the year. Bitcoin Gold has also made around 10% on the day.

In the top one hundred Qash has made the largest pump at 30% followed by Wanchain at 21% and Substratum jumping 19% on the day. Yesterday’s pumps have predictably dumped today; Bitcoin Diamond is down 13%, while CyberMiles, Cortex and Theta Token have all lost around 8%.

Total crypto market capitalization has nudged up another 2% largely due to Bitcoin’s climb. Today it is at $216 billion but has made no real progress on the week. Compared to this time last month crypto markets have dumped 28%, or over $80 billion so there is a long way to go for them to be considered bullish once again.

Bitcoin dominance has climbed to 53.6% which is close to its highest level this year and largely at the expense of Ethereum which has been murdered in recent weeks.

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.

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!

Google play logo

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