Crypto Market Wrap

Crypto Market Wrap: Binance Coin Buoyed By New Fiat Exchange

Martin Young | January 17, 2019 | 7:00 am
binance coin

Crypto Market Wrap: Binance Coin Buoyed By New Fiat Exchange

Martin Young | January 17, 2019 | 7:00 am

Market Wrap

Crypto markets haven’t done much over the past 24 hours, the top ten is flat, Cardano and Binance Coin gaining slightly.

There has been very little movement in crypto markets over the past 24 hours. No further dumps have been initiated which has kept total market capitalization just above $120 billion for another day.

Bitcoin has held above $3,600 support but only just. It reached an intraday high of $3,685 before pulling back again, currently down a third of a percent on the day. This time last week Bitcoin was still over $4,000 but since the big dump it has remained flat, consolidating in this tight range for now.

There has been still no movement in the Ethereum camp which is lulling around $120, exactly where it was this time yesterday. XRP has fallen back a little reducing the market cap gap between second and third places to $600 million.

The top ten is completely flat with no altcoins moving more than a percent in either direction. EOS is the only token in the green but gains are negligible and Bitcoin Cash is dropping the most as usual.

There are a couple of coins making moves in the top twenty but gains are only 3% or so. Cardano, Binance Coin and Maker are the only ones gaining, BNB buoyed 4% by the news of a new Binance fiat exchange launch in Jersey. The rest are totally flat or falling back a fraction of a percent.

Two altcoins are getting the big dose of fomo during the Asian trading session today. Augur and Loopring are both pumping 45% at the time of writing. Power Ledger is also flying with 32% added on the day and Status has made 25%. Getting dumped are Buggyra Coin shedding 16%, followed by Aurora and Dentacoin dumping 12% each.

Total crypto market capitalization is exactly where it was this time yesterday, $121 billion. Markets did gain $2 billion over the past 24 hours but lost it again equally as fast. Daily volume has remained steady at $16 billion. This time last week the big dump started but since then markets have been trading sideways.

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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NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.


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