Cryptocurrency Market Update: Bitcoin Dominance Reaches New 2018 High

Altcoins are nonetheless struggling; Cardano, Nem and VeChain nonetheless dumping, Emercoin and Waves rising.

There was nearly no motion within the crypto markets over the previous 24 hours. They’re nonetheless totally depressed and of their worst state for over a yr. Complete market capitalization continues to be under $200 billion and near its lowest degree for 2018.

There was barely any motion on the Bitcoin entrance because it stays on the similar degree as yesterday, $6,350. BTC is consolidating just under the important thing $6,400 resistance degree and a bearish continuation sample seems to be forming. Ethereum continues to slip with one other 2% misplaced immediately to convey its worth just under $195. Low ICO funding and common insecurity within the markets is making issues worse for Ether.

Altcoins proceed to tumble with the vast majority of them within the purple as soon as once more this morning. But once more Cardano is taking the most important dive within the prime ten with a 5% loss to $zero.072. Since its all-time excessive ADA has dumped a colossal 94% making it one of many worst performing altcoins. XRP and Bitcoin Money proceed their decline with an extra 2-Three % loss on the day and the remaining are comparatively flat.

Additional down the market cap chart is Nem and VeChain, each getting beat up with a 5-6 % dip on the day. Within the prime twenty solely Tezos is displaying any actual beneficial properties, up Three.7% to $1.26 in the mean time. The highest altcoin within the prime 100 on the time of writing is Emercoin which has pumped 55%. Waves can also be nonetheless flying at 21% larger on the day and Reddcoin has climbed an extra 17%. Getting battered as soon as once more is Holo and Rchain dropping 7-9 %.

Complete crypto market capitalization has not likely moved over the previous 24 hours and continues to be languishing round $195 billion. Altcoins, particularly Ethereum, are taking the brunt of this decline and Bitcoin is staying buoyed above $6,000. Ethereum’s market cap has dropped under $20 billion for the primary time since July 2017. This has elevated BTC market dominance to the very best level this yr – 56%. Bitcoin’s market share was beforehand this excessive on December 15 coinciding with its big rally.

FOMO Moments is a bit that takes a every day have a look at the highest 25 altcoins through the present buying and selling session and analyses the most effective performing ones, searching for developments and attainable fundamentals.

About Tom Greenly

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