Crypto Market Wrap

Crypto Market Update: Super Spike For Eternal Token (XET) as Selloff Accelerates

Martin Young | December 27, 2018 | 8:00 am
Eternal Token XET
Crypto

Crypto Market Update: Super Spike For Eternal Token (XET) as Selloff Accelerates

Martin Young | December 27, 2018 | 8:00 am

FOMO Moments

Crypto markets still falling; Ethereum, BCH and Cardano dropping, Eternal Token gets epic pump.

Things are in decline again in crypto land as the selloff continues and the recent rally unravels. More losses can be seen across the board and total market capitalization is heading back towards $125 billion.

Bitcoin is falling back from an intraday high of $3,875 it made a few hours ago. The $4,000 resistance level can no longer be reached and BTC is extending losses. At the moment it is down 1.5% on the day and trading at just below $3,800. Ethereum as usual is in more pain with a 6% slide back to $125. ETH is still 25% up on the week though but those gains are dwindling as it returns to bearish territory.

The top ten is all red during today’s Asian trading session. Bitcoin Cash has joined Ethereum with a 6% loss over the past 24 hours as it falls below $170. The rest are dropping between 3 and 5 percent at the time of writing. EOS has managed to reclaim fifth spot from Stellar but the two have very similar market caps at $2.2 billion.

Only Ethereum Classic is in the green in the top twenty with a 7% gain to reach $5.28. Cardano and Monero are dropping the most with 6% losses. The rest are declining around 2 to 4 percent at the time of writing.

A monumental spike has occurred for Eternal Token which has pumped over 300% today propelling XET up the chart into the top forty altcoins.

A new remittance service by Atom Solutions called Equivalent Value Overseas Remittance System (EVOR) based upon Eternal Coin appears to be pumping the token at the moment. Factom is the only other altcoin in the green besides Ethereum Classic at the moment.

Yesterday’s pumped coin is getting dumped today as Polymath loses 12%. Also at the painful end of the top one hundred is Stratis, IOST and Ontology dropping double digits at the time of writing.

Just over 3% has been lost from total market capitalization over the past day as it slides back to $127 billion. Daily trade volume is down again to 16 billion as the short rally now seems to have fizzled out. Crypto markets are back at the same level they were this time last Thursday and very close to levels this time last month.

FOMO Moments is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.

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