For today’s market recap, we are seeing almost no movement in prices nor volume in the crypto sphere. The Top 100 board is a mix of reds and greens with not so much action at the time of this writing. For a market so used to big surges and movements, the past days have been relatively calm and stable, or stuck, depending really, on how you look at it.
The total market capitalization hardly moved from yesterday with $202.6 Billion which it has been holding from the weekends. The trading volume is a bit worrying as in continues to dip in small levels. Currently, it is at $10.4 Billion.
The Bitcoin price is showing a resistance to moving forward. It is currently at $6482, a tad lower than yesterday. Bitcoin is currently stable within the $6400 to $6500 range. Analysts are predicting a downtrend below $6400 due to some bearish technicals. The volume is starting to get stressed out, currently at $3.3 Billion, which has not recovered this Monday morning in the Asian Market. If bulls are not able to push for a bigger volume, the price is unlikely to have a new breakout. We still have the same resistance from three days ago at $6600 and $6720.
Ethereum, for its part, has been positively moving forward consistently for the past days. It is slowly gaining and has reached a monthly high of $227. Its volume is stable at around the $ 1.5 to 1.7 Billion. Currently, it is at $219 and would be expected to continue climbing until it is stable above the $220 resistance which it has already hit yesterday.
The Top 10 is also mostly stable with very slow movement in either direction. Stellar is leading the gainers and is now at 2.11% on the day and trading at $0.208. Bitcoin Cash managed a 1.07% growth while the rest are holding at 0-1% gain/ loss.
The Top 25 have Lisk on a breakout at 12.44%, topping Dash at a far 4.26%. Bitcoin Gold is also showing some movement at 3.73% gain on the day. Tezos, which has been pumping yesterday due to its mainnet announcement is now on a pullback at 2.5% on the day.
Further down the Top 100, Aurora is still at it and now at a 51.61% pump and exchanging hands at $0.034. Aurora has been performing well all week and has ramped up 180% over the week. It was just announced that it is listed on Kucoin and this has pushed the price further.
Apart from Aurora’s pump, there are other coins doing good and performing at double-digit gains like Waltonchain, Funfair, Ardor, and Nexus. Waltonchain is at 14.26% and the rest are between 10 – 12%. On the other side of the pendulum and losing hard is Mixin at a huge -23.89% drop. Gas, Dropil, and Dentacoin are also losing out at 7-9%.
For many short-term speculators, the current cryptocurrency market could be classified as a bore, with prices remaining relatively stagnant, volume figures dwindling, and altcoins failing to see rapid bouts of non-linear price movement, which were so common during last year’s bull run. Regardless, prices still saw a slight uptick this week, with a majority of crypto assets posting healthy gains.
In other news:
As funding for ICOs drops amidst a regulatory crackdown by the US Securities and Exchange Commission, investors are turning to a new type of cryptocurrency investment vehicle in order to invest in projects: security tokens.
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