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Cryptocurrency Market Update: Stellar (XLM) Climbs to Fourth Spot

Avatar Martin Young 1 year ago

FOMO Moments

Crypto markets have held their gains, Stellar and Zcash leading the way.

Cryptocurrency markets have held on to their gains following two days of recovery from extremely low levels. Things are not great mind you and markets are still at very depressed levels for the year, but the good news is that they haven’t dumped any further over the past 24 hours and total market capitalization is still just below the $140 billion level.

Bitcoin has stayed above the $4,200 resistance turned support level but has not moved and remains at just above $4,200 at the time of writing. BTC actually made it to $4,400 over the past day but could not get above it. Ethereum has remained flat just below $118, and falling back again its lowest level for 18 months. XRP in second hasn’t moved much either but remains firmly above ETH.

Altcoins are generally on the up at the moment with some outperforming others. The top ten’s clear winner over the past day is Stellar which has made another 3% to take it above Bitcoin Cash and into fourth spot. XLM is currently trading at $0.167 with $100 million more in market cap than BCH which has fallen back slightly. EOS is also dropping while BSV and ADA fall another couple of percent each.

Zcash is making moves in the top twenty as it gets listed on Coinbase Pro. ZEC made a further 10% on the day but fell back in the last hour as it hovers just above $80. The rest of the altcoins in this section have lost a percent or two during today’s Asian trading session aside from Tezos which is sliding 7%.

Today’s big pump is Theta Token on 100% and Centrality with 8%. Getting dumped on is Sirin Labs Token which has been up and down like a yoyo in recent days. Today SRN is down 27%, Verge and Zilliqa also losing double digits in the top one hundred.

Total market capitalization lower than it was this time yesterday, $136 billion, with a 3% slide. Trade volume has dropped back to $17 billion and things seem to be calming down as we round out another week. Bitcoin dominance is just under 54% maintaining its ratio over the altcoins which, as usual, suffer greater losses during market dumps.

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.

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

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