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Crypto Market Wrap: Motionless Monday as Markets Plateau

Avatar Martin Young 5 months ago

Market Wrap

Crypto market immobile on Monday; most majors falling back, only Tron survives.

Crypto markets have been rather lethargic over the weekend and that lethargy has extended into Monday morning. There has been no attempt at recovery and total market capitalization is still painfully low at below $115 billion.

Bitcoin has floated around the $3,470 level for the past couple of days with no attempts at pushing higher. BTC hit a low of $3,450 a couple of hours ago but hasn’t moved much since, remaining where it has been for the past few days.

Ethereum is also weak and remains under $110 with a further loss on the day. XRP has suffered a little more but it remains over $1 billion ahead of ETH in terms of market cap.

The top ten is a sea of red at the moment but movements are minimal. Tron is the only altcoin posting a minor gain of one percent but it is not enough to move from eighth place. Litecoin has managed to hold recent gains and sixth place with a marker cap over $2 billion. The rest are in negative territory but only by a fraction.

The top twenty is equally immobile and the only direction is down for most of the altcoins. NEM is still sliding back following the negative news last week as it slides further down the charts. Most of the rest are pretty static during the day’s Asian trading session.

There are no fomo induced pumps going on at the time of writing. The top performing altcoin in the top one hundred is Theta with a 6% gain. The situation is similar at the other end of the scale as Aurora drops 10% followed by Augur at 7%. Nothing else has changed since Friday.

Over the past 24 hours total crypto market cap has not really moved so much. Markets dropped to an intraday low of $113 billion but things are back where they were the same time yesterday at just over $114 billion. Bitcoin dominance as remained above 53% and there is very little to report at the moment for cryptocurrencies.

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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