Crypto Market Wrap

Cryptocurrency Market Update: Bitcoin Diamond (BCD) Pump Defies the Dump

Martin Young | September 10, 2018 | 10:42 am
bitcoin diamond bcd

Cryptocurrency Market Update: Bitcoin Diamond (BCD) Pump Defies the Dump

Martin Young | September 10, 2018 | 10:42 am

FOMO Moments

Markets are in a bad shape on Monday; but Bitcoin Diamond and Waves recovering.

Crypto markets are still in the doldrums as we start the week. A very small bounce yesterday prevented them reaching a new yearly low but levels are not far off it. Still under $200 billion, markets are at their lowest point since the end of October last year.

Bitcoin made a small upward movement yesterday but has stayed flat since then trading at $6,320. Further losses look likely for BTC which is not showing any bullish indicators at the moment. Ethereum is going from bad to worse as it plummets even further, remaining under $200. ETH at the moment is trading at $195 and any further dips could spell very bad news for the world’s second largest crypto.

Altcoins are quite mixed at the moment with some still falling but others recovering a little from last week’s rout. In the top ten XRP, Stellar and Cardano are still dropping 2-3 percent on the day while EOS has gained 2.6% to pull itself back to $5.

More movement can be seen further down the charts with Dash and Dogecoin streaking back up with 7% clawed back on the day. Iota and VeChain are also gaining, but only by 3% at the time of writing. The rest are plus or minus a percentage from yesterday’s prices.

Bitcoin Diamond is having the biggest pump of the day with a 22% gain to trade at $2.06. BCD spurted two hours ago when volume over doubled to around $19 million. The largest OTC exchange in Asia, OTCBTC, now supports Bitcoin Diamond;

A Korean news article about BCD Bazaar, the new partnership driven e-commerce platform, could also be driving momentum. Binance currently has over 50% of the trade volume in BCD.

Waves is also performing well at the moment with a similar 22% spike, as is Bitcoin Dark which is up 20%. At the painful end of the top one hundred is Rchain and GAS dumping 7% each.

Total crypto market capitalization has slid a further 1.5% on the day and is currently at $195 billion. Ethereum is leading the losses as most ERC20 tokens are also in a bad way. The only good news out of crypto land at the moment is Bitcoin’s dominance which has climbed to another yearly high of 55.8%.

More on Bitcoin Diamond can be found here:

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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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.


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