Markets have recovered slightly; XRP, Cardano, Tron and Chainlink on a roll.
Crypto markets have recovered slightly following yesterday’s ten billion dollar dump. Total capitalization has inched slowly back towards $200 billion and is about to break it. One big pump yesterday added $8 billion back into the markets.
Bitcoin is up marginally today, around 1.2% to $6,370. BTC is facing resistance at the $6,400 level and needs to break through this to see further gains. Ethereum has been much more volatile and has bounced back 5.5% over the past 24 hours to trade at just over $210.
Nearly all of the altcoins dumped yesterday but most of them are recovering again today. Looking at the top ten XRP is surging ahead with a 20% pump on the day to trade at $0.328. Ripple’s native token has almost regained all losses over the past month in this one spurt. The announcement that Ripple Labs would be launching its xRapid liquidity platform as early as next month has set the fomo in motion as traders jump on XRP once again. Market cap for the world’s third most popular cryptocurrency has surged back over $13 billion as volume has jumped from $250 million to $700 million.
Other altcoins doing well in the top ten at the moment include Cardano up 13.5% to $0.072 which has pushed it back above Monero into ninth spot. Stellar hasn’t done badly today with a 5% gain on the day and the rest are up 2-4 percent.
In the top twenty Tron is leading with a 7% gain following Binance announcing the TRX/BNB trading pair. Dash, Tezos and Nem are all up 4-5 percent on the day and Iota is the only coin in the red dropping back a percent.
Chainlink is getting the biggest pump of 22% in the top one hundred as it has just been listed on Bithumb. Ardor, Maker and Dragonchain are all up 11-13 percent on the day. Topping the red list is Aurora dumping 25% followed by FunFair and Steem both losing 6%.
Total crypto market capitalization has climbed just over 3% on the day to $198 billion. It briefly surpassed the $200 billion mark a few hours ago but has fallen back slightly. Since last Wednesday’s 2018 low of $186 billion markets have regained 6.5% to their current levels.
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 one, looking for trends and possible fundamentals.