Flatline Friday For Crypto Markets, Only Tron Making a Move
Markets flat this Friday morning; Tron, EOS, Nexo moving up.
There is still very little going on in crypto land as we round out the week. Since yesterday markets have barely moved and have remained at a little under $220 billion total capitalization.
Bitcoin has made it back to $6,600 with a one percent gain on the day. It has hovered around this level now for about a month with no indicators of a big move on the horizon yet. Likewise with Ethereum which hasn’t done anything all week and is still lulling around $223.
The altcoins are generally mixed at the moment with very little movements in either direction. EOS is up 3% right now which makes it the top ten’s top coin. It is currently trading at $5.83 and has not made it back over $6 for two weeks. The rest are moving less than a percentage point each way.
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In the top twenty only Tron is showing significant gains today with a 5.5% climb to $0.023. The TRX pump came a few hours ago when it jumped 6.4% before pulling back slightly. Trade volume moved from $100 to $150 million, 20% of which has been on Binance. Updates from Tron come thick and fast but the launch of its new developer portal has likely driven momentum during Asian trading this morning.
Our new one-stop shop for #developers – Go check it out, all of our documentation is available there! We will update it as needed and communicate on new tools very soon https://t.co/22xPGzML6R $TRX #TRON https://t.co/TP0uXXbZ7f
— Justin Sun (@justinsuntron) October 4, 2018
There is only one other obscure altcoin making a notable pump today in the top one hundred. Nexo, which has just entered the top 100, is up over 25% but it is likely to drop the same amount the following day when the fomo wears off. There are no big dumpers today as the greatest loss is around 4% from Mixin and Siacoin.
Total crypto market capitalization has not moved over night and remains at $219 billion. Volume is a low $12 billion on the day and things are generally pretty stagnant at the moment. Since this time last Friday markets are actually down 2% as the bulls are still sleeping. Bitcoin dominance is holding at 52% right now as it too cannot find a way out of the lengthening lethargy in crypto land.
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.
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