Markets dumping once again; XRP, Ethereum, and Stellar losing out.
Following a few days of inactivity crypto markets have dumped again in a rinse-and-repeat cycle that has become all too common recently. The latest sell off has resulted in markets falling back to $215 billion total capitalization and remaining in their sideways channel.
Bitcoin led the drop by falling just below 2% to $6,480, which is still range-bound in its consolidating channel. Naturally the rest plummeted even further with Ethereum losing 4.4% to slide back to $220.
Altcoins as expected are all red again today. With a dump coming every 4-5 days, crypto markets have become rather dull and predictable over the past couple of months. The top ten is hurting with XRP leading the slide and losing 8% on the day back to $0.520. Stellar is not far behind with a 6.5% drop, followed by Bitcoin Cash, Litecoin and Cardano all losing 4-5 percent. Only Monero has remained level and is still at yesterday’s price of $115.
Further down the list the top twenty are showing losses of 2-4 percent with Dash leading the decline at 4.5% falling back to $178. Only Binance Coin is in the green with a 3% rise to reach $10.25. There are no altcoins pumping today and the top gainers are only making 4% or so, these include Loopring and HyperCash. At the messy end of the top one hundred FunFair, RChain and ReddCoin are dumping over 9% on the day.
Total crypto market capitalization has declined over 3% on the day as $7 billion is sold off dropping markets to just over $215 billion. On the week they are marginally up but this cycle is showing no signs of changing at the moment. Since this time last month crypto markets are down over 8% but they have been trading sideways since the beginning of August.
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 ones, looking for trends and possible fundamentals.