More midweek momentum pushes markets higher; Bitcoin Cash racing ahead, Zcash, XRP and ETH doing well.
Markets are on the move. Yesterday’s momentum has grown during Asian trading on Wednesday morning and total crypto capitalization has made it back over $220 billion for the first time in almost a month.
Bitcoin has awoken and has shifted gear, climbing 1.4% on the day to $6,515. The jump came two hours ago when BTC added almost $100 in one movement. Trade volume has increased almost a billion dollars and is now at just under $5 billion on the day.
Ethereum is also risen from its torpor and shifted 5.5% on the day to $220. It is the highest level ETH has been at for four weeks. Trade volume is up almost 25% as it races to keep second spot from XRP which is closing up.
In the top ten Bitcoin Cash is nailing it with almost 11% on the day taking BCH to almost $620. This upsurge has been predicted due to the upcoming hard fork and associated coin distribution. Solid gains have been seen by XRP adding 6% on the day to $0.536, Stellar close behind with 5.5% taking XLM to $0.262. EOS and Cardano are both up over 4% and Monero is the only non-mover at the moment.
Good gains also in the top twenty with Zcash taking the lead on 7% to $130. Neo, Ethereum Classic and Nem are all doing well today gaining over 5% right now.
Following Bitcoin Cash the top performing altcoins in the top one hundred right now are Holo, Aurora, Qtum and MOAC, all adding 7-8 percent to their prices today. Nexo and Ravencoin are still dropping though, losing 3-4 percent when all of their siblings are making moves in the opposite direction.
Total crypto market capitalization has seen its largest daily gain for three weeks as 3.8% brings it to $220 billion. Over $7 billion has been added over the past 24 hours and over $16 billion over the past seven days. A smooth upswing has started to form on the weekly chart, have the bulls finally awoken?
Bitcoin dominance continues to decline, largely at the expense of BCH and XRP, it is currently 51.5%.
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 Trading Update: Crypto Market Cap Reaches Monthly High appeared first on NewsBTC.
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Author: Martin Young