Cryptocurrency Market Update: A Lazy Sunday in Crypto Land
Crypto markets are horizontal today; Only Digitex Futures is pumping.
Cryptocurrency markets are still at the bottom following their mid-week dump. There has been no sign of a bounce back to previous levels as total market capitalization is still hovering just above $200 billion.
Bitcoin has remained on a flat line since its Thursday dump of $300. BTC fell to $6,300 and is currently trading just below that level, it has fallen 5% since the same time last weekend. Ethereum is also very depressed at the moment after falling back to $200 and remaining there for the past 3 days.
Altcoins are mostly in the red this morning, but movements are minimal. Looking at the top ten nothing is really moving more than a percent or so in either direction. Cardano has lost almost 2% on the day to fall back to $0.073. The rest are flat this Sunday during Asian trading.
The top twenty is showing similar lethargy at the moment with most cryptos shifting around a percent up or down on the day. Dash is showing the greatest gain which is just 1.7% bringing it to $161, while Tezos is falling back by a similar amount dropping it to $1.22.
The fomo induced pump of the day in the top one hundred is currently Digitex Futures which has surged 47% in the past 24 hours. These unnatural spikes usually happen when new altcoins increase in market cap but they often dump again just as quickly. Time will tell if DGTX can hold its gains. Aion has also done well since the dump, today it is up 18%. At the red end of the table is Noah Coin dumping all of its recent gains and falling back 26% on the day. MaidSafeCoin is also having a tough Sunday with an 11% slide.
algo investing-images/2018/10/14020409/marketcap1410.jpg” alt=”” width=”1200″ height=”425″>
Total crypto market capitalization has not moved over the past 24 hours and is still very low at $202 billion. Trade volume has dipped below $10 billion for the first time since the end of August and crypto markets look very dejected at the moment. Markets are back to the same level they were at this time last month which appears to be the bottom, unless another dump is imminent.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
The post Cryptocurrency Market Update: A Lazy Sunday in Crypto Land appeared first on algo investing.