Crypto markets back up today; EOS and Binance Coin leading, Ontology and Tezos close behind.
Market Wrap
There was doubt of a dump yesterday, looming like dark clouds on the horizon, however a stiff breeze has cleared them out and crypto markets remain buoyant for another day. The brief dip below $180 billion in market capitalization was recovered and no correction has occurred yet.
Bitcoin is still holding on to $5,200 where it has consolidated for the past few days. It dropped to an intraday low of $5,170 but recovered quickly and is currently trading a little higher on the day at $5,250. BTC appears to be heading back to its micro resistance level of $5,300 to test it again.
Ethereum is back up at $180 after posting a gain of almost 3% on the day. At the moment ETH is mirroring what big brother does so that is the one to watch. Both are approaching strong technical resistance levels though.
The rest of the top ten is mostly green today recovering from yesterday’s losses. Leading the way during Asian trading is EOS which has made 7% on the day taking it above $5.80. It is just $100,000 behind BCH now and about to flip it for fifth. Binance Coin is a close second with over 6% gained to reach $18.60. Movements by the rest are smaller with just a couple of percent or so.
The top twenty is also all green with the biggest gains coming from NEO, Ethereum Classic and Ontology, all up around 4% today. Tezos is just outside the top twenty but that will change shortly as it gains over 5% and chases down NEM.
FOMO: ABBC Coin Agrees With Alibaba
A 45% fomo pump has given ABBC the day’s top performing altcoin accolade. Price for this serial pumper and dumper has now reached $0.28. The yearlong dispute with Chinese ecommerce giant Alibaba has finally reached a mutually agreeable conclusion according to the latest post;
#officialannouncement #ceoannouncement #abbccoin #abbcfoundation #abbc pic.twitter.com/8qBZVUlh4R
— ABBC Foundation (@abbcfoundation) April 10, 2019
TrueChain has also done well, entering the top one hundred with a 27% pump to reach a dollar. The Chinese project aims to be another ‘revolutionary blockchain’ using hybrid consensus. These are the only two double digit altcoins at the time of writing. There are no major dumps occurring at the moment but KuCoin Shares are bottom of the pile dropping 4%.
Total crypto market capitalization has climbed back above $180 billion and is $2 billion higher than yesterday. Daily volume is at $50 billion and the outlook is still very bullish for the time being. Markets are sustaining their momentum and are likely to keep pushing higher this week, at least until Bitcoin reaches heavier resistance.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.