Crypto Market Recap: 17, October 2018
The market is moving sideways and the crypto-board is a mix of red and greens. There’s not much movement since our last crypto market recap except for a couple of coins surging up with big news.
The total market capitalization of the entire cryptocurrency market is at $210 Billion, a touch below yesterdays $211 Billion. It seems that we’re back on last week’s non-movement. The trading volume is now at $12 Billion, $2 Billion less than yesterday. The Bitcoin dominance is dropping at 53.8% though hardly noticeable as the altcoins have not made any dent against the grandfather coin. Most of them are still struggling to recover and at their lowest for the year.
The Bitcoin price is at the time of this writing, is at $6726. It has dropped -1.19% on the day as the trade volume stabilizes at its usual $4 Billion. Bitmex has the biggest hand in the pot at $1 Billion. For the past day, there was hardly any movement in the price. On the 4-hour chart, the MACD is slowly shifting back to the bearish position. Both the S/RSI are heading down which might mean sellers attempting to take control. Its just a little below 60 and could reach oversold in the short term for buyers to buy in. The Money Flow Index is also pointed downwards which for the short term means more sell-off.
The Ethereum is still on the range of $210. Its been flat at the Asian Markets this morning but touched $216 at one time. Similar to Bitcoin it has lost -1.41% on the day and seems to be traveling on the same trajectory as well. On the 4-hour chart, the MACD is slowly crossing over the bearish side and the S/RSI are both reaching near oversold.
For the Top 10 altcoins, we have some good recovery for both Stellar and Ripple’s XRP which is both up at 3%. On the other side is Litecoin and Bitcoin Cash both at a -2% on the day. The rest is red but has only declined a little below 2%.
Looking at the Top 25, we have a mixed bunch as well. 0x has been surging at 19.30% as it goes live on Coinbase. Earlier, it went as high as a dollar before going down to its current price at $0.89. The 0x is a DEX protocol which has made almost 80% of its July price. The rest are in a small pullback apart from several 1 percenters like Zcash and Tezos. On the other side, Dogecoin is still losing at -4.51% and the price is at $0.0048 at the time of this writing. This is a long way away from when it went in a bull session in September and went as high as $0.006. Tron and Binance Coin is also dropping back at -2% both.
A little lower below the Top 100 crypto, there’s a whole lot of coins struggling to get back on their feet. A lot is still in a pullback though and some have dropped farther and further. On the top gainers, Noah Coin retakes its crown after falling down outside the Top 100 for several days. It has surged to 19.14% on the day with the price trading at $0.001. Odyssey is traveling well at a nice speed with 15.94% on the day. Nano rounds off our double-digit gainers for the day at 12.79%. On the other side of the rainbow, we have ETERNAL TOKEN tumbling down at -11.54%. DigixDAO is also suffering at -10.41%. And to round off our double-digit losers, we have Electroneum at -10.29% loss on the day.
Overall, the market was not as crazy as it was 2 days ago. Things are back to settling down and this is looking like the new normal for cryptocurrency trading these past months. Anyhow, trade safe and have a nice day!
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