Crypto markets hit another high; Ethereum, Stellar, Cardano, ETC and NEM on fire.
Market Wrap
Yet again crypto markets have surged to a new high for the year. This time the altcoins are in control as Bitcoin remains steady above $8,000. Total market capitalization pumped by a further $20 billion topping $260 billion as the bulls keep buying.
There is no stopping Bitcoin at the moment. A few hours ago, during the morning’s Asian trading session, BTC hit another new high for the year at just over $8,300. It has since pulled back to the temporary support level of $8,000 where it currently resides. There has been a lot of talk of a larger correction but as yet it has not materialized.
Ethereum is on fire today with a massive spike of 20 percent to hit its highest price for almost a year. ETH touched $270 a few hours ago before retracing back to $260 where it is trading at the moment. As reported by NewsBTC yesterday, Ethereum was predicted to surge as Bitcoin cools off.
The top ten is pumping at the moment with double digit gains for a couple. Stellar has lifted off surging over 30 percent on the day to hit $0.157, its highest price since the big November dump. The momentum appears to be FOMO driven but Poloniex has announced Stellar inflation rewards which could also be contributing. Cardano is also cranking with an 11 percent drive up to $0.095. Litecoin is back at $100 and BCH has hit $420 as altcoins light up the markets.
https://twitter.com/RedditStellar/status/1128699240543391744
The top twenty is a wall of green with NEM shooting for the moon with a 40 percent surge today. Ethereum Classic is following its big brother adding 18 percent to reach $8 and Bitcoin SV and IOTA are both over 12 percent higher today.
FOMO: NEM Revived
Today’s top one hundred top performer is NEM pumping over 40 percent. Volume has surged from $18 to $73 million as XEM hits $0.10 for the first time since August last year. The FOMO is being spread around as Dent gets a 30 percent boost and even Verge has been revived from death with a pump of 26 percent on the day. There are too many altcoins in double digits to mention here which is not a bad thing!
Only ABBC Coin is getting dumped with 5 more percent lost today. And of course yesterday’s pump, PAI, is dumping predictably today. Aside from those two only the stablecoins are showing red at the moment.
Total crypto market capitalization has increased by another $20 billion surging to a new ten month high of $264 billion. A slight correction over the past couple of hours has dropped them back to $255 billion. Volume remains at record levels of $110 billion and Bitcoin’s dominance has fallen back below 56 percent as altseason gets under way as predicted.
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.