EOS Flips Litecoin Again as Crypto Markets Beat a Slow Retreat

Avatar Martin Young 7 months ago

Market Wrap

Crypto markets falling back slowly; EOS retakes 4th losing less than Litecoin, Maker and NEM climbing.

Crypto markets have started to head south once again but the slide is a slow one at the moment and the majors are holding their positions. Total market capitalization has remained above $120 billion but only just as red starts to envelop the charts.

Bitcoin has been flat for the best part of the past 24 hours. It hit an intraday high of $3,670 this time yesterday but has fallen back since ending the period almost a percent down. BTC is currently trading at $3,630 and looking bearish.

Ethereum has held steady over the past day and is still trading at $123. There have been little signs of further momentum for ETH but this may change as the rescheduled Constantinople draws nearer. XRP has fallen back on the day by around 1.5% and the gap between the two is currently just $300 million.

The top ten is a sea of red with most altcoins dropping back during the day’s Asian trading session. Litecoin has lost the most at over 5% which has enabled EOS to retake fourth spot with a loss of 4%. The gap between them is marginal however so a reflippening could occur at any time. The rest in this section are sliding 1-3 percent at the time of writing.

There are only two altcoins in the top twenty making any positive moves at the moment. Maker continues to climb with another 5% added on the day allowing it to flip NEO for 16th place. NEM has also made a recovery with almost 7% added as the Foundation works towards clearing up its restructuring and downsizing mess. The rest are dumping between 2 and 4 percent at the moment.

Only two altcoins are in double digits in the top one hundred and they are Komodo and Theta making ten percent each. The KMD rise follows the successful testing of multiplayer gaming modes on its blockchain. At the messy end of the table is Aurora dumping 12% followed by MOAC dropping 6%.

Total crypto market capitalization has fallen by 1.7% on the day but is still clinging on to $120 billion. A break below this could see things start to dump again fast. Compared to this time last Thursday things are still looking up as markets are 7% higher. Bitcoin dominance has fallen back to 52.7% as it too starts to weaken again.

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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