For a change, the altcoins seem to be moving on its own this Friday without the need for a big push from Bitcoin, the dominant coin in the crypto markets. The past day has seen several tokens including VeChain, Cortex, Populous, and Nano shatter the double-digit gains with up to 50% gains.
The market is continuously recovering. The market cap has now reached $213 Billion after a low of $191 Billion from Tuesday but the daily volume is still stuck at $14.8 Billion. As we enter the weekends, we might see a drop from here which could scare the skittery buyers once again.
Bitcoin has been holding on to $6400 and has posted a minimal gain at 0.76%. Early this morning, it retraced back to $6300 and has even tested the $6200 support before it made an upward movement. Currently, it is trading at $6473 and could push up to its next major resistance at $6600 if buyers appear and push the momentum. On the downside, sellers could appear and cash out immediate gains. Current support is at $6300 and $6200.
The Ethereum captured the bull by its horns and forced its way back to $300. It is 2.34% higher today and it looks like it could still push upwards. Yesterday, it was trading in range around $280 before making a dash for $290. Currently, it is trading at $301 and needs to break $304 in order to gain momentum.
Among the Top 10, XRP made the most progress today. It has posted 7.01% growth for the past 24 hours. It is currently trading at $0.31. XRP has been on the downtrend for the past months and for the week, it is still down by 7.5%. Monero is still doing good on its recovery at $95.14 and 4.14% gain for the day. The rest of the Top 10 are sitting nicely with 2-3% gains.
For the Top 20, most are in gains with the exception of ETC which is actually down for the day at -2.50% despite it now being available at Coinbase. VeChain is still on top for the second day after seeing some good news on the market regarding a NASDAQ news article on blockchain vaccine tracing solution for China. It has jumped $0.014 and has posted 40.27% gain on the day. The token has now mostly recovered most of its loses for the past 2 weeks. TRON is also rising and up by 7.06% on the day. Zcash, NEO, NEM and Binance Coin is between 4-5% growth each.
Overall, it is a recovery day for the TOp 100 with only Mixin and TenX being on the red. There are a couple of pumps going for some obscure coins like Cortex at an amazing 87.96%. It remains to be seen if it’s just a classic pump and dump. Populous is doing well too, at 58.91% and trading at $6.33. Nano, PundiX, and Ontology are between 30-40% growth on the day. About 20% of the Top 100 are in a double-digit gain and it is nice to see the altcoins taking charge today.
This post first appeared at CoinDNA – Green Market This Friday, Altcoins Take Back Control, VeChain Still On Top
CoinDNA is an educational website that aids users in research, the first step of their investment journey, providing insights to help navigate investment decisions, including market data for individual tokens, a daily market report, and custom frequently-asked analytics.