Crypto Market Wrap

Crypto Market Wrap: Marginal Gains On a Flat Friday

Martin Young | January 18, 2019 | 7:00 am
consolidating
Crypto

Crypto Market Wrap: Marginal Gains On a Flat Friday

Martin Young | January 18, 2019 | 7:00 am

Market Wrap

Crypto markets are flat on Friday, Tron, Iota and Binance Coin shifting gear a little.

Crypto markets are ending the week still flat with very little movement over the past few days. The odd one or two cryptocurrencies are moving a little but generally not much has gone on over the past 24 hours which has left total market capitalization still just above $120 billion.

Bitcoin has moved up a little, but less than a percent gains has only taken it as far as $3,670. Daily volume has not changed from $5.3 billion and the consolidation continues. Bitcoin is at the same place it was last Friday after dropping to a weekly low of $3,550 before recovering to current levels.

Ethereum has shown no movement since recovering from its Monday dump and is currently trading at $123, up half a percent on the day. Delays to Constantinople are doing no favours for ETH as it struggles to catch up to XRP in second place which is still over $600 million in market cap ahead.

The entire top ten is showing green at the moment but gains for the majority are tiny. Tron is leading the way with 3% as the San Francisco niTROn summit concludes today. EOS and Stellar are also up over 2% but the rest are flat this Friday.

More green can be found in the top twenty during the day’s Asian trading session, aside from Cardano and Monero which are dropping back a little. Biggest gains can be seen with Iota and Binance Coin jumping 5-6 percent on the day. Ethereum Classic has made 3% but the rest are less than 2% higher.

Only two altcoins have made ten percent on the day and they are Dentacoin, which has been dumping all week, and Zcoin. Following its huge 50% pump yesterday Augur has dropped back 10% with Buggyra Coin and REPO not far behind.

Total crypto market capitalization has only managed to inch up $1 billion on the day which is less than a percent. It currently stands at $122 billion with an unchanged daily volume of $16 billion. On the week markets have been flat, aside from a dump and pump on Monday. There is nothing to indicate that this is likely to change at any time in the near future.

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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