Not all that glitters is gold. Pre 2018, a pump of more than a hundred percent would be considered normal under the circumstances. But this year, more commonly known as the year of the bear in the crypto markets, more than a hundred percent increase smells of price manipulation. Either that or a CoinMarketCap glitch.
Which segues to AurumCoin, the coin claiming to be backed in gold, which headlining today with a 5,749.24% and shooting up to #23 on Coinmarketcap. There is no major announcement on their social media or their website and Twitter is erupting with wry humor and outright accusations. In many layers, it has outshined Dogecoins meme parade as it continues to dominate the altcoins today with its new Dogethereum smart contract.
But back to regular programming. This Saturday, the market is fully back on the green. The market cap has crossed the $230 Billion level which is surprising for a weekend performance. It is currently at $232 Billion -adding $7 Billion to the crypto market. This is a new high and an auspicious start of September. The trade volume has dropped back a bit to $12.7 Billion and the Bitcoin Dominance slid once more down to 52.6%.
Bitcoin (BTC), which stayed a just a touch below $7k for the past 2 days crossed back to $7k and currently trading at $7073 at 1.43% gain on the day. Technical analysis is still bullish for the short term and as we mentioned yesterday, it could cross $7080 (which it already did) and $7130 next. The volume is still steady at $4.4 Billion.
Ethereum is still having a hard time permanently crossing the $290. Still, it has grown 2.11% today and is currently at $287.
The Top 10 have a better movement today at higher gains than yesterday. After a 5% gain yesterday, it is pushing for a faster recovery at 7.61% growth on the day. It is currently trading at $6.65, recovering from its yearly low from August. Last Saturday, the price of this coin is at $5, representing over 30% gains on the week. Litecoin (LTC), which is quietly regaining strength on the Top 10 posted 5.43% growth today. Cardano (ADA), and IOTA have 4% between them.
Our Top 25 has AurumCoin shooting up at 5,749.24%, which is not expected to last. Wag the dog is still the theme of the day with Dogecoin jumping over the moon at 53.07%. Dash and Monero are not to be left behind with a double-digit growth of 14.89% for Dash and 11.70% for Monero. The rest are all in the green by at least 2%.
The Top 100 have Reddcoin continuing its good performance from yesterday at 32.26%. Siacoin is also moving upwards with an 18.26% gain on the day. Bytecoin completes our double-digit gainers today 16.92%. If there are winners today, there are also losers although they are few and far between with small losses. The biggest loser today is Rchain at -5.95%. Aion and MOAC follow, along with Lisk which is down by 3.04%. The rest have negligible loses below 1%.
Overall, the start of September made a good impression. The past week has been a slow and steady recovery and hopefully, the market is back on the right track.
This market recap first appeared at CoinDNA – Weekend Spurt For The Crypto Market, Dogecoin Still Celebrating Dogethereum With An Ongoing Pump
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