Markets recovering this Monday; Monero, Dash and BAT climbing, Eternal Token getting trounced.
As we start another week crypto markets have made some upward progress. Total market capitalization has passed $210 billion for the first time in seven days and green is the predominant colour at the moment.
Bitcoin is up marginally and has made it to $6,440 after a low just under $6,300 a few hours ago. Bullish momentum appears to have returned, in the short term at least. Ethereum is faring a little better and is posting a 4% gain since this time yesterday taking it to $208 at the moment.
Altcoins are all green right now and one or two are recovering well. In the top ten Bitcoin Cash has taken the lead with a 4.5% gain to $562. Monero is also trading strongly, knocking Tether down a spot and taking ninth place with a 4.8% rise on the day to $112. XMR market cap has reached $1.85 billion whereas USDT is at $1.77 billion, dropping it back to tenth place. The rest of the altcoins in this section are up a percent or two aside from Stellar which hasn’t really moved over the past 24 hours.
Dash is posting the best gain in the top twenty at the moment, up almost 6% to $167. Iota, Zcash and VeChain are all up between 2-3 percent on the day and the rest are trading around a percent higher than weekend levels.
BAT is still enjoying gains following its Coinbase listing and tops the top one hundred with a 9% rise to $0.321. Wax is also trading positively this Monday morning with an over 8% gain.
Getting bashed up at the bottom of things in the top one hundred altcoins is Eternal Token dumping over 17% at the time of writing. Ravencoin is also in the red with a 6% loss on the day and Bitcoin Diamond is not far behind with a drop of 5% since yesterday.
Total crypto market capitalization has gained almost 1.5% on the day to reach $211 billion, its highest level for almost two weeks. Things seem to have settled in this channel over the past few hours and, at least for the short term, the trend is bullish.
Bitcoin dominance has taken a hit as the altcoins start to show signs of recovery. It has dropped back below 53% as Ethereum has slowly crept back over 10% and Bitcoin Cash has made solid gains. Since last Monday’s market dump things have recovered by 4% over the past seven days.
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: Monero and Dash Driving Monday Recovery appeared first on NewsBTC.
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Author: Martin Young