Crypto Market Wrap

Crypto Market Wrap: Bitcoin Dominance Falls to 2019 Low, Has Altcoin Season Begun?

Martin Young | March 15, 2019 | 8:37 am
altcoins
Crypto

Crypto Market Wrap: Bitcoin Dominance Falls to 2019 Low, Has Altcoin Season Begun?

Martin Young | March 15, 2019 | 8:37 am
Crypto markets being driven by altcoins; Cardano, NEM and CRO Cranking, Bitcoin dominance diminishing.

Market Wrap

Crypto markets are still consolidating as we round off another week. Volume has crept up a little and a slow uptrend has formed over the past couple of days as major crypto assets hit resistance levels. Total market capitalization has made it over $135 billion for the past few hours.

Bitcoin has moved very little over the past 24 hours. BTC hit an intraday high of $3,945 before instantly dumping to $3,900 then slowly building back up to $3,920 where it currently trades. Volume is back over $10 billion and key technical indicators such as MACD and hourly RSI are in the bullish zone.

Ethereum, which has been slowly sliding back all week, has made a percent on the day taking it to $135. The move has taken ETH through the weekly down trend line so further momentum could follow, especially if Bitcoin turns bullish. XRP has made a minor loss on the day dropping back to $0.311.

The top ten is pretty mixed at the time of writing but gains are no more than a percent or so for those in the green. Stellar, which recently flipped Tether for eighth spot, has dumped 4% on the day dropping market cap back to $2 billion. XLM is about to drop back down the charts as it falls to $0.105.

There is a lot more green in the top twenty during today’s Asian trading session. Larger gains have been made by Cardano as ADA climbs 5.5% to $0.049. NEM is also having a big pump with around 9% added on the day to take the token to $0.050. A possible link between NEM Malaysia and Air Asia could be driving the fomo.

IOTA, NEO and Ethereum Classic have all made over 3% in the past 24 hours as ‘altseason’ gathers momentum.

FOMO: Crypto.com Chain Still Pumping

Crypto.com Chain has continued its epic surge adding another 50% as it nears the top twenty. Over the past week CRO has made an epic 900% pumping from $0.013 to $0.092. Today’s surge has been driving by a listing on Upbit;

Also having a good run today is Lisk and Digitex Futures, both pumping 17% on the day. Crypto.com’s other token, MCO is also up 17% at the moment. REPO is well in the red right now and is the top one hundred’s worst performing altcoin with a dump of 10%, Electroneum is not far behind losing 8% today.

Total market cap 24 hours. Coinmarketcap.com

Total market capitalization has remained over $135 billion adding a billion dollars since the same time yesterday. Daily volume is building and is now at $33 billion as altcoins lead markets at the moment. Bitcoin dominance has fallen to its lowest level this year as it sinks to 50.9% while the altcoins continue to strengthen.

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.

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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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