Crypto markets lick wounds from fresh lows; Stellar dropping back, Maker making moves.
Crypto markets have made a very slight recovery from their fresh lows over the weekend but they are still on the floor. Total market capitalization is still very low but has yet to drop below $100 billion, it seems to be only a matter of time though.
Bitcoin is still down a little on the day but has recovered marginally from its 2018 low on Saturday of $3,195. At the time of writing BTC was trading at $3,270, pretty much where it was this time yesterday. On the week it is down 9% and may drop to $3,000 soon.
Ethereum is still very weak and has made no recovery from its low point. Trading at $85 at the moment ETH is the cheapest it has been for over 18 months.
The top ten is generally mixed right now with very little movement in either direction for most altcoins. Stellar has lost fourth place to Tether as it drops another 2% on the day. Only Litecoin has made anything back since the weekend but it too is very weak at $26.
The top twenty is nearly all red. Only one altcoin is making moves at the moment and that is Maker up 12% on the day. The push has taken MKR above $385 and it is one of the top performing altcoins today. Everything else in this section is in the red losing a percent or two on the day.
As usual there are a couple of fomo pumps occurring and today’s lucky two are Revain and Factom up around 30%. MobileGo is also making around 18% at the time of writing. Getting dumped is DEX with a 17% slide since yesterday.
Total crypto market capitalization is currently just below $104 billion, very close to where it was 24 hours ago. Late on Saturday markets dropped to their lowest levels of 2018 at just over $100 billion. Most altcoins also recorded fresh lows for the year and the pain is not over yet for cryptocurrencies.
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.