Crypto markets rallying again; EOS and Litecoin on a charge, Bitcoin SV and IOTA still stuck.
Another small rally initiated yesterday adding a further $6 billion to crypto markets and pushing total market capitalization back over $130 billion once again. An anomalous ‘flash crash’ can be seen in the charts for total market cap a few hours ago but it appears to be a glitch.
Bitcoin bounced from $3,770 to $3,900 yesterday but again failed to break resistance here. BTC has since fallen back to $3,880 which marks a 3% gain on the day. Volume has picked up and is now back over $10 billion again. Only when this wall of resistance can be overcome will Bitcoin and markets climb further.
Ethereum is having a solid run today as it pumped over 7% to reach $140 before pulling back slightly. The Swiss exchange ETP launch has driven momentum for ETH which has recovered all losses over the past week. Ethereum has extended its lead over XRP in third to $1.4 billion as the Ripple token only managed to gain 3% today.
The two clear leaders in the top ten at the time of writing are EOS and Litecoin. EOS jumped from $3.30 to a high of $3.84 before pulling back to $3.70 marking a 12% gain over 24 hours. Volume jumped to $2.3 billion and OKEx is the leading exchange for EOS trade. Litecoin has done even better with a surge of 13% from $46.60 to smash through the $50 barrier and reach an intraday high of $54 before dropping back slightly. LTC volume is also over $2 billion at the moment as it closes the gap on EOS in fourth to $150 million. Binance Coin as usual continues its solid performance adding a further 7% on the day to reach $13.50.
The top twenty is all green during the Asian trading session today. The top performer in this section is Maker pumping 9% to $680. Cardano and NEO have also done well out of this market spurt by gaining 5% each. Ontology needs a mention as it is just outside the top twenty, ONT has surged 12.5% on the day and is about to flip Zcash. Bitcoin SV and IOTA have not moved at all over the past day.
FOMO: Enjin Coin Revving Up
Today’s top one hundred top performer is Enjin Coin which has pumped 21% on the day taking the gaming token close to $0.10. Enjin Blockchain SDK coming to Unity Asset Store next week appears to be driving momentum;
🗓️ It's official: The Blockchain SDK is coming to the Unity @AssetStore on March 14!
In just 9 days, 4.5 million @unity3d developers will be able to easily create & integrate ERC-1155 #Ethereum blockchain assets into games for over 25 mass market platforms.#unitydev #unity3d pic.twitter.com/28JZaWf6z5
— Enjin (@enjin) March 5, 2019
Bitcoin Gold is also getting a pump with 20% added over the past 24 hours taking it to $12.60. Nexo and Quant are not far behind with gains of 15% each. There are no double digit dumps at the moment but the worst performing altcoins in the top one hundred include Loom Network and Electroneum dropping 5% a piece.
Total crypto market capitalization has surged by $6 billion to $132 billion. The 4.8% gain has recovered all losses over the past week as volumes surge to $34 billion. Until key resistance levels can be broken markets are likely to remain around this range bound channel.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.