Crypto markets are still cooling; The majors consolidating, Stellar, BNB and ETC moving a little, MANA going to the moon.
Market Wrap
Crypto markets are currently holding steady as there has been very little movement over the past 24 hours for the majority of coins. Total market capitalization has remained above $130 billion for now but things are likely to head south again before another rally initiates.
Bitcoin has bounced between $3,840 and $3,870 several times over the past day as it consolidates here before another move. Daily BTC volume is trailing off and has dropped to $7.7 billion and it is likely the next move will be to the downside.
Ethereum remains weakened before the hard fork scheduled for later this week. ETH has failed to break over $140 and signs are bearish at the moment with the next major support level at $132. XRP has also fallen back and it seems that the Coinbase Pro listing has done very little for Ripple’s token prices as it sheds 7% since the announcement.
The top ten is a mixed batch during today’s Asian trading session with only two altcoins making over 2%. Binance Coin and Stellar have inched up a little while the rest are pretty stagnant. Tron is only $60 million in market cap away from XLM so a flippening could occur when TRX forks tomorrow.
Similar lethargy can be seen in the top twenty with only Ethereum Classic and NEM climbing over 2% on the day. Bitcoin SV failed to retake tenth spot from BNB despite a huge pump yesterday.
Decentraland is in fomoland today as HTC announces support for its wallet and dApp on the new Exodus 1 blockchain phone. MANA has surged almost 40% on the day as South Koreans load up on the virtual reality land platform’s native token.
We're excited to announce our new partnership with HTC! We'll be working with HTC to bring the Decentraland ecosystem to the Exodus 1, HTC's blockchain enabled phone, complete with an integrated hardware wallet. Read more on our blog at: https://t.co/a5g8FhEhry pic.twitter.com/JE6vijVSBC
— Decentraland (@decentraland) February 26, 2019
“Decentraland and the Exodus team are collaborating to bring the Decentraland ecosystem to the EXODUS 1, the world’s first native blockchain smartphone. This means that all of your Decentraland assets can be securely stored in the Zion Vault, the all-in-one private vault on the blockchain,” the release added.
Theta, a decentralized video streaming platform is also getting a dose of fomo with another pump of 30% today as Bithumb announces support for mainnet token swap. Getting beat up is S4FE displaying a true pump and dump pattern losing over 50% today. Enjin Coin is cooling off after a Samsung induced surge of almost 200% as it drops 12% back today.
Total crypto market capitalization is holding just over $130 billion following a day of yo-yoing at this level. Daily volume has cooled off to $25 billion as things slow down after a volatile month. Markets are close to their levels this time last Wednesday, and are over 8% up on the month.
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.