The crypto markets have begun correcting after yesterdays surge that was led by Bitcoin. The crypto board is back to the reds and most coins on the green have barely registered good gains.
The total market capitalization is starting to show declines as it dropped to $135.7 Billion from yesterday’s $136.6 Billion. The trading volume is also sliding and is now down to $14.7 Billion. Still, despite current declines, BTC Dominance is continuing to climb up and is now at 51.9%.
Bitcoin is in a range bound channel. Though it is down by -0.40%, it is still protected above $3900. It is foreseen that this level would last a while until the bulls are able to successfully cross $4100 without being rejected. It appears to be holding now with the current trading price at $3969. However, the former resistance at $3,900 will be the dividing line as it now becomes support. Since last Tuesday BTC is still up 7%.
Ethereum is seen trading at $148 after being rejected at $155 yesterday. On the day, it has lost -2.48%. Ethereum went to a great high at the start of this week going as high as $160 but the momentum appears to be fizzling out and is now back to following Big Brother Bitcoin. The bears are starting to sharpen their claws and are pulling down whatever gains that Ethereum has managed to gain since last week. Things might begin to move again later once the hard fork upgrade goes underway.
The rest of the Top 10 are mixed with some digital assets performing better than others. Tron went on a bull run earlier and climbed to #9 on the market capitalization with a 10.71% gain on the day. Litecoin is the only other coin on the green with a 2.92% growth overnight. Stellar is hardly green at 0.07% with the rest suffering under the bear’s claw at 0–2% loss.
Meanwhile, the Top 25 are mostly on the 0–3% loss on the day. Only Binance Coin has managed to have a gain today at 4.79%. On the other end, Waves is dumping at -8.16% and Ethereum is suffering from a -4.27% loss after a 51% attack.
Down the Top 100, REPO is still at it and continued climbing the Top 100. It has gained 35.25% on the day and exchanging hands at $0.678. Holo, which was formerly dumping is now on a double-digit gain at 11.29%. On the other end of the chain is DEX, a usual pump and dump coin has now dumped -24.03% after pumping yesterday.
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 Tuesday!
Originally published at dna.coinve.st on January 8, 2019.
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.