Crypto Market Recap: 05, December 2018
The market continued to trend down and midweek is bringing more agony to the Top 100. The whole board is red with a spot of green here and there. There are gains made but does not last long and is dropping as quickly as it comes.
The market capitalization lost 3% and cutting out $5 Billion from yesterday’s $129.6 Billion. It is now at $125 Billion. The trading volume is at $13.4 Billion with the Bitcoin dominance rising back to 54%.
Bitcoin, still protecting $4k yesterday, has come down to $3900 today. Earlier, it went as low as $3844 before heading back to its current price now at $3914. With the bears still keeping the upper hand, a significant recovery from current levels appears unlikely in the near future.
Ethereum has been weakening more and more and despite news or gossip of whales buying a whole stock of Eth, it’s not helping the price to go up. It has lost -3.13% on the day and is currently at $108.32.
The rest of the Top 10 are still red and is slipping more and more to a point of no return. Bitcoin Cash has been imploding in the past few days with a -10.27% drop today. Price has gone down to $139.56, a huge fall from $614.98 in the early days of November, and its all-time lowest level. EOS follows which is having another internal issue to tackle along with the market insecurity. It lost -6.71%today, and Bitcoin SV came last among the biggest losers with -6.07% loss on the day but only because Cardano has now stepped out of the Top 10 with Tron stepping in.
The Top 25 has some fireworks with Binance Coin popping the bottle for a huge growth at 13.44%. Binance has apparently brought out their decentralized video advertisement which made the buyers happy. On the other end, Ethereum Classic and Tezos hold the biggest loss at 9+%. The rest are not doing so great with 1–5% losses between them.
Down the Top 100, we have some greens and a couple of pumps. Waves caught some 14.59% gain on the day and Factom is back with a 10.45% surge. However, the losses are not looking good for Nexo which is currently dumping at -31.65%. Among the double-digit losers are Dex, Theta Token, and Pundi X -at 11–13% losses. All these coins have been pumping recently and their drop does not come as a surprise.
Anyhow, this is today’s market recap to give you a glimpse of what happened on the crypto markets while you were sleeping. Trade safe, and have a great Wednesday!
Originally published at dna.coinve.st on December 5, 2018.
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