The crypto market is still locked below $130 Billion and is in an impasse at the moment. Most of the crypto-board is red as altcoins lost most of their gains during the so-called Santa rally. Most of the major coins also jumped from their recent highs.
The market capitalization is at $127 Billion –where it has been for the past two days. The trading volume lost another $2 Billion as it stands at $16 Billion at the time of this writing, The altcoins drop is increasingly showing as the BTC dominance has climbed back to 52.1%.
Bitcoin is extending losses at the moment and is continuously dropping after a $250 drop last Tuesday and down as much as 12% from the recent high $4234 reached right before Christmas. At the time of this writing, it is down with a minimal -0.31% on the day and is trading at $3798. The market capitalization is also dumping and is now at $66 Billion according to Coinmarketcap. The positive sentiment before Christmas seems to have been stolen by the Grinch and although there’s no direct correlation on what triggered the drop, analysts and pundits are pointing to Bitmain’s and Singapore-based cryptocurrency exchange Huobi’s layoff plans. The decline might also be triggered traders taking home their profit, intensified by thin market conditions.
Ethereum has been losing more as usual. At the time of this writing, it is down by -4.00% and has dropped back at $125.57 after a high of $160 on Monday. The price is still above $121 support but should it fall below this level, the trend will possibly drop into very bearish position. The market capitalization is now at $13 Billion, just a Billion less than XRP’s market capitalization at the moment,
The rest of the Top 10 has been moving in sync with other digital assets and are on the reds during the early Asian trading session. Bitcoin Cash has lost -3.39% and it is currently exchanging hands at $168.03. Litecoin follows with a loss of -2.59% with its price exchanging hands at $30.28. XRP and Stellar have both lost more than 2% on the day.
For the Top 25 crypto, Ethereum Classic and Maker are the only ones in the green. Ethereum Classic has gained 7.82% and exchanging hands at $5.24. It is sitting on 11% gain since this time last week. Maker has gained 4.08% on the day and the rest are declining around 2 to 4 percent at the time of writing.
Down the Top 100, Eternal Token is still continuing its trip up the market capitalization list and has proudly entered inside the Top 50. It has pumped 127.45% on the day. Bitcoin Diamond follows with an 11.08% gain. Apart from DEX at 9.03% gain, the rest of the coins on the green have very minimal movement above 2%. On the opposite side, TenX, Linkey, and IOST are all at 8% losses.
Overall, the crypto markets have been stable for the past two days and are back at the same level they were at this time since last week.
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 Thursday!
Originally published at dna.coinve.st on December 27, 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.