It’s another Monday morning in the cryptosphere! Overall, in the big scheme of things, the last week was not as bad nor as volatile and this morning is traveling along the same vein. While we avoid being overly optimistic, the market seems to be in a good mood. The sentiment looks positive and the majority of the coins and tokens are green.
Admittedly, the market capitalization is still in a lull. Currently, it is at $217.7 Billion, up an inch from yesterday’s $214 Billion. We are almost closing the month of August and we are still down by almost $70 Billion The 24-hour volume is still at a low $10 Billion.
Bitcoin (BTC) is still consolidating and has been on the same level since the weekend. Currently, it is exchanging hands at $6711 and the technical indicators have flatlined for the day. It has a negligible growth at 0.65% on the day. Analysts are pointing out that it could break out massively in the near term. Willy Woo, a cryptocurrency researcher, and respected investor has said that the 2018 Bitcoin correctionwill not turn out to be like the 2014 slump when the price of Bitcoin dropped 90 percent and remained in a low price range for several years. From yesterday, we are still on either testing the $6800 resistance or harrying the support level at $6550.
Ethereum is still in the same position which it has been for the majority of the weekend. The good news is that it has not tested the support at $260 and is still at $276. It actually tried to reach the $280 resistance but fell short and is now at 0.72% gain.
The Top 10 has some exciting movements as IOTA dislodge Monero from the 10th position with a 14.39% gain on the day. It has gone up to $0.622 but is now leveling off at $0.611. IOTA is still far from its all-time high (ATH) and needs to get back above $2 to start recovery. The reason for the upsurge is a rumor about a partnership between IOTA and Volkswagen. Next up is EOS which is now at $5.18 and 4.88% growth on the day. Cardano is also having a good day at 3.50% gain. Overall, the Top 10 is green with 1-3% gains. All of them are still behind on their recovery and has not hit back their last months’ level.
Our Top 25 have VeChain back and once again leading the top performers. If IOTA has Volks partnership rumors, VeChain has the CEO and founder Sunny Lu teasing its investors with Renault and BMW. It jumped with a double-digit gain at 10.16% and now trading at $0.016. NEO is a far next at 6.08% and trading at $18.54, still far behind from its January price. 0x, Binance Coin and OmiseGO are also having a good day with 4-5% gains.
Tron, Neo, and Binance Coin are all looking good gaining over 6% at the moment. Further down the list Ontology, Nano and Zilliqa are all climbing 10-12% on the day but Lisk has actually fallen back a little. Nano has fallen and hurting at -15.47%.
Far down below on the Top 100, ICON is leading the pack with 15.35% growth on the day. ICX has been making good gains for the past week but still down 30% for the month. The surge is connected to another partnership, but this time with an insurance firm in Korea. LOOM, Loopring, Aurora, and PundiX completes our double-digit performers for the day at 11-14% gains. On the other end, we have QASH and TaTaTu as the worst performer of the day with -5.67% and -4.45% loss respectively.
This market recap first appeared at CoinDNA – Market Cap Still In A Lull But Crypto Market Is Green and Poised For Movement
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.