The Santa rally seems to be like a mirage that is now gone and the hard cold December is back with a vengeance. Three days into the new year, the crypto market is back to the reds with no relief in sight. Most major coins are losing in the range of 3%-13% on a day-to-day basis.
The market capitalization lost over $6 Billion overnight and the total value of the entire crypto market is now at $121.9 Billion at the time of this writing. The trading volume has lost another billion and is now at $15.3 Billion. The Bitcoin dominance is continually climbing and is now at 52.5% which means that altcoins are once again dropping their market capitalization.
The Bitcoin is around the $3500 level at the moment and is currently at $3577 at the time of this writing. It has lost -3.46% on the day with the price foreseen to be falling lower. There is no upside momentum that will push above several resistance levels on the $3680 and $3725. This near the weekend, the volume has already dipped at $4.9 Billion with the market capitalization at $64 Billion.
Ethereum has lost -5.65% on the day and is now at $116 at the time of this writing and consolidating losses after a huge sell-off on Thursday. ICOs has been affecting the coin hugely, widening the market cap once again with XRP which is also down over 25% from the recent peak reached at $0.4600.
The rest of the Top 10 are experiencing massive selloffs as well. Bitcoin Cash leads the dump with a double-digit loss at -10.09% bringing the price down to $151.68. Bitcoin SV follows with -8.24% loss on the day. The rest follows with 4–6% loss on the average. Meanwhile, the Top 25 are all in the red with 2–8% losses. The biggest losers are NEM and Tezos at -8.69% and -8.39% respectively.
Down the Top 100, there are still a couple of pumps. The biggest pump is happening at DEX with a 33.23% surge on the day. Endor Protocol follows with a 28.77% growth on the day. MobileGo rounds off our double-digit gainers at 11.12%. There are a few oddballs which are still green including Theta, Komodo, and Stasis EURS with 5–7% gain on the day. On the other end, QASH is dumping hard at -19.34% followed by Holo at -11.02% loss.
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 Friday!
Originally published at dna.coinve.st on December 28, 2018.
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.