Crypto Market Recap: 14, December 2018
The crypto markets started dumping again this Friday after almost a week of non-action. As the market moved down, the market capitalization burned $3 Billion and is now seriously closed to falling below $100 Billion.
Today’s selloff brought the market capitalization down to $104.9 Billion from yesterday’s $108 Billion and is almost reaching another 2018 low. The trading volume is at $11 Billion with the BTC dominance rising to 55%.
Bitcoin, which showed a very small rally earlier this week, dropped to as low as $3280 before crawling up to its current price at $3305 according to Tradingview for Binance. On the day, it has lost -3.27% and its volume dropping to a yearly low at $57.6 Billion at the time of this writing. Despite signals indicating a short-term climb, it continues to disregard oversold conditions and is now at its lowest level since September 2017. Its continued inability to get past $6400 indicates that the bearish sentiment is still very strong.
Ethereum is still traveling the path of least resistance which is to the downside. On the day, it’s price has fallen to $86.18 with -3.95% loss on the day. Currently, Ethereum is close to an uncharted territory with a viable support at $82. Should it cross this line, the path to the abyss is possibly dangerously darker and deeper.
The rest of the Top 10 are once again back to another level of hurt as it falls down the market capitalization game. Bitcoin Cash is the biggest loser with a double-digit drop at -11.17% with only $10 difference with BSV at $87.66. Bitcoin SV, a constant rival for a higher position is now at the 9th place, losing -9.17% on the day and exchanging hands at $77.67. The next level of hurt is with Stellar, trading at $0.104 and losing -6.47% on the day/ The rest is in between 0–4% loss.
The Top 25 have Waves as a shining beacon of green as it moved to 15.26% gains on the day. Unfortunately, aside from Maker, TrueUSD and USD Coin, there are no other greens at the time of this writing. Tezos is the biggest loser with -9.67% loss on the day and followed by Binance Coin at -5.37% hitting below $5 earlier. Dash, IOTA, Zcash, and Cardano all lost 4% today with the rest falling at 0–3% loss.
Down the Top 100, there were several greens but there’s not much happening. Decred, today’s biggest gainer, has earned 8.56%. The rest are more losses with DEX expectedly being one of the biggest drops. It has lost -33.02% at the time of this writing after several days of pump. Wax and Decentraland rounds off our double-digit losers at 15.39 and 10.34% respectively.
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 14, 2018.
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