Crypto Market Update: Tether Climbs The Table Amid Shrinking Market Caps

FOMO Moments

Crypto markets are sliding again; Bitcoin SV, EOS, Monero and Tezos getting hit.

Crypto markets are turning south again as minor gains get wiped out. Total market capitalization dropped below $110 billion during the morning’s Asian trading session as red dominates the charts at the moment.

Dropping a further 2.5% on the day Bitcoin is heading towards the next predicted support level around $3,000. This will be absolutely crucial and a fall below it will spell a lot of pain. At the time of writing BTC had fallen to $3,490 in a steady downward slide that has lasted almost two days.

Ethereum is back at $90 and looking weaker by the moment as it too dumps almost 2% since the same time yesterday. ETH is back at May 2017 prices but heading down instead of up; further declines could see it get to $50 very quickly.

Altcoins are all dumping again and the only winner in the top ten is Tether which has climbed the chart to fifth spot as market caps crumble. Bitcoin SV is dumping the most at the moment with a 7% slide back towards $90. EOS has also fallen over 5% as it jostles for position with BCH which has sunk back towards $100.

The top twenty five is equally as bleak with over 6% losses for Monero and Tezos. Iota and Ethereum Classic are the only altcoins not falling at the moment as they remain in the green, but only just.

Only one big fomo pump is occurring at the moment, the top performing coin in the top one hundred at the time of writing is WAX surging 30%. Bitcoin Private is not doing too badly with a gain of nearly 9%. There are quite a few at the painful end of the table dropping double figures right now and they include MOAC, Decentraland, Factom, and Decred.

Total crypto market capitalization has declined a further 3% on the day and is currently just above $110 billion. Since last Tuesday markets have dumped 12%, losing $15 billion. There seems to be no end of new lows being made and the next one will be below $100 billion.

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 Crypto Market Update: Tether Climbs The Table Amid Shrinking Market Caps appeared first on NewsBTC.

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