It’s another Monday in the crypto world. It’s a world driven by price action and sometimes we forget that crypto actually means more than speculation and investment. This morning, let’s remind ourselves that crypto, and blockchain in general, is probably the greatest invention since the internet and that it is changing lives daily. It has a multitude of applications that can change not only the way people perceive money but also change the way we do daily transactions. After all, what most of us are aiming for is the technology that changes the world.
But back to regular programming! In today’s market recap, we’re noticing a slight gap in the weekend’s performance versus this Monday’s starting with the Asian Market. Bitcoin went for a bit of a correction and the market followed. The market capitalization, though still above $230 Billion, is a touch below today at $235 Billion from yesterday’s $237 Billion. Naturally, bitcoin dominance again went up and is now at 53%. The trading volume is also lower today at $11.6 Billion from yesterday’s $14 Billion.
Bitcoin (BTC) has hit $7300 and traded as high as $7330 before correcting lower to $7100 and back to its current price at $ 7244. Currently, it is at minimal loss of -0.52%. The trade volume went down to $3.8 Billion today. Analysts are predicting a break out happening soon and most has affirmed a bullish outlook for the end of the year. Today’s support level is at $7180 and the new resistance is at $7300 which it has hit earlier.
Ethereum (ETH) has lost momentum again and is correcting. The weekend brought good gains for the second coin on the list and it was hoped that it would cross over $300 soon. It did cross $300 but was not able to maintain it as sellers cashed in their gains. Yesterday, we mentioned that it needs to maintain its level above $292 and $290 in order to maintain current gains. But it broke that barrier and now at $288 and has lost -2.25% on the day. Still, the day is early and barring any major price movement from Bitcoin, it might move to recover back above $290. Once above $290, buyers may appear again and bring the price up.
The Top 10 is correcting too, from weekends price movement. It is mostly in the red with the exception of Monero which is at a low 1.21% gain. Stellar and XRP are the hardest hit at -3.36% and -2.19% respectively. The rest are in between 1 to 2% loss.
For the Top 25, Ethereum Classic is making a good move at 6.19%. It has been a long time since ETC is up on our Top Winners and its price is now at $14.10. It’s still a long way to before hitting back up its last high at $20 back in August but it’s almost back to the same level where it was a week ago this Monday. Dogecoin is bouncing back after a small correction yesterday and has posted 5.73% gain on the day. Our biggest losers are Ontology, IOTA, NEO, and TRON, currently between 3 to 4% loss. The rest are red but is not making such a big move downwards.
For the Top 100, Holo is pumping at 62.18%. People are wondering what the cause of the pump is and there is no official news on their Social Media but whispers on Reddit claim that a prominent Youtuber reviewed the coin, hence the pump. Or not. We will see later if its a real deal pump or just a classic *“pnd”. Holo is a decentralized hosting platform that serves cryptocurrency users with absolutely functioning decentralized applications.
Reddcoin is recovering from its dump yesterday and now at a far 2.74%. Rchain is at a minimal 1% gain. So far, those are the only coins in the Top 100 on the green at the start of the American and European crypto markets today. Most are suffering from losses of 1-5%. The heavy hitters are TaTaTu, at -9.31% and falling at $0.73. Chainlink caught fire at -8.60%. Verge is down on correction from yesterday’s pump at -8.06%. DigiByte, Dropil, and Ark are also losing at 7%.
*pnd – Pump and Dump
This market recap was originally posted at CoinDNA: Bitcoin On Correction, Market Turns Bearish But HOLO Takes Crypto Sphere By Surprise
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.