Altcoins lifting markets this morning, Icon, Iota, VeChain rising, while Lisk is losing.
Monday morning has seen little action in crypto land however there has been some small upward movements by a few altcoins. Total market capitalization has remained above $215 billion and has crept up slightly on the back of a few spurting cryptos today.
Bitcoin is still floating just above $6,700 and has made 1.3% on the day to trade at $6,730. Technical indicators suggest that BTC could break out from a rising wedge in which it is currently consolidating. Ethereum has not moved much either but there have been no further losses and it is actually up 2% to $280 at the moment.
Altcoins are mostly in the green according to Coinmarketcap however Iota has barged its way back into the top ten with an 18% surge to $0.622. The chatter on Reddit claims that Volkswagen has tapped the Iota Foundation to work on a blockchain based CarPass system which will be launched in early 2019. Iota is still massively low compared to previous levels this year and needs to be back near the $2 level to show any signs of recovery. EOS is up 5% and Cardano 4% which makes up the other two leading coins in the top ten, the rest are showing 2-3% gains.
More solid performance can be seen by altcoins in the top twenty where VeChain is leading the pack with an 11% jump to $0.016. Tron, Neo and Binance Coin are all looking good gaining over 6% at the moment. Further down the list Ontology, Nano and Zilliqa are all climbing 10-12% on the day but Lisk has actually fallen back a little.
Icon is the altcoin of the moment with a 26% surge to $0.908. With the team buying back $5 million of their own tokens and partnering with South Korea’s largest insurance firm momentum is growing. ICX has made 36% on the week but has a long way to go as it is still down almost 30% on the month. Trade volume has tripled in the past 24 hours to $80 million and Binance has over 60% of it.
In the top one hundred the other altcoins trying to chase Icon are Wanchain and Loom Network, both up over 20% on the day. There are as always a couple of losers today and those include Qash and Bitcoin Private dropping a couple of percent.
Total crypto market capitalization has moved another 2.5% over the past 24 hours to $218 billion, its highest level for five days. Markets are still massively down on this time last month though when market cap was closer to $300 billion and things seem to have flat lined for the time being.
More on Icon can be found here: https://www.icon.foundation/
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.