Monday morning has seen little action in crypto land however there has been some small upward movements by a few altcoins. Total market capitalization has remained above $215 billion and has crept up slightly on the back of a few spurting cryptos today.
Bitcoin is still floating just above $6,700 and has made 1.3% on the day to trade at $6,730. Technical indicators suggest that BTC could break out from a rising wedge in which it is currently consolidating. Ethereum has not moved much either but there have been no further losses and it is actually up 2% to $280 at the moment.
Altcoins are mostly in the green according to Coinmarketcap however Iota has barged its way back into the top ten with an 18% surge to $0.622. The chatter on Reddit claims that Volkswagen has tapped the Iota Foundation to work on a blockchain based CarPass system which will be launched in early 2019. Iota is still massively low compared to previous levels this year and needs to be back near the $2 level to show any signs of recovery. EOS is up 5% and Cardano 4% which makes up the other two leading coins in the top ten, the rest are showing 2-3% gains.
More solid performance can be seen by altcoins in the top twenty where VeChain is leading the pack with an 11% jump to $0.016. Tron, Neo and Binance Coin are all looking good gaining over 6% at the moment. Further down the list Ontology, Nano and Zilliqa are all climbing 10-12% on the day but Lisk has actually fallen back a little.
Icon is the altcoin of the moment with a 26% surge to $0.908. With the team buying back $5 million of their own tokens and partnering with South Korea's largest insurance firm momentum is growing. ICX has made 36% on the week but has a long way to go as it is still down almost 30% on the month. Trade volume has tripled in the past 24 hours to $80 million and Binance has over 60% of it.
In the top one hundred the other altcoins trying to chase Icon are Wanchain and Loom Network, both up over 20% on the day. There are as always a couple of losers today and those include Qash and Bitcoin Private dropping a couple of percent.
Total crypto market capitalization has moved another 2.5% over the past 24 hours to $218 billion, its highest level for five days. Markets are still massively down on this time last month though when market cap was closer to $300 billion and things seem to have flat lined for the time being.
More on Icon can be found here: https://www.icon.foundation/FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.
08/27/2018 / 07:26:16 Source: newsbtc