consolidating

Crypto Market Wrap: Minimal Movement on a Slow Sunday

Avatar Martin Young 10 months ago

Market Wrap

Crypto markets consolidating this Sunday, Stellar moving up, Tron falling back.

There has been little movement in crypto markets this weekend and things remain pretty flat. No signs of any recovery from the big dump on Friday are forthcoming and total market capitalization is still around the $120 billion level.

Bitcoin has retreated slightly from its intraday high of $3,680 as daily volume falls back to $4.5 billion. Losses are minimal though and BTC is still hovering above $3,660 at the time of writing, and maintaining its support level. Since the same time last weekend Bitcoin has lost 4.7%.

Ethereum continues to weaken and has fallen back a further 2% on the day to $125. Over the past seven days ETH has dumped 18% and lost second place again. XRP has increased its lead to $500,000 as it falls less than a percent over the past 24 hours.

At the time of writing Stellar is a rare beacon of green in a sea of red as XLM climbs over 4% on the day. It is about to challenge EOS for fifth which hasn’t moved at all. The only other altcoins in the top ten showing a gain is Bitcoin SV, up 3% and catching Tron again which has fallen back over 5% as the worst performing token in the top thirty.

Very few of the altcoins in the top twenty have gained or lost more than a percent, at the time of writing they are all flat. Hypercash is getting a big fomo spike at the moment with a pump of 30% making it the top one hundred’s top coin. REPO and QASH are both making double figures also. Getting beat up are Buggyra Coin and Dentacoin dumping over 10% each.

Less than one percent has been lost from crypto markets since yesterday. Very little is going on at the moment and total capitalization is around $122 billion as daily volume declines back below $14 billion. Since last Sunday markets have dumped almost 7% but they are still 13% higher than levels this time last month. The range bound channel is holding for now but things are at the bottom of that trading range.

Market Wrap 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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