Cryptocurrency Trade Volume Reaches 11 Week High
FOMO Moments
Markets are recovering from a two day correction; Stellar, Binance Coin, 0x, and Pivx performing well.
As we enter the weekend markets have rebounded slightly and are heading back towards $300 billion. Following a correction that saw $15 billion leave the markets things are slowly heading back upwards and most cryptos are in the green this morning. Daily trade volume has passed $26 billion, its highest level for 11 weeks.
Bitcoin has regained 3.3% on the day and is trading at just over $8,200. The correction appears to have been short lived and further gains could be possible. Ethereum has also recovered slightly with a small gain of 1.4% to trade at $470.
All altcoins are in the green at the moment and Stellar is the best performer in the top ten with a 5% gain to $0.321. Since last Saturday XLM has climbed 16.7% from $0.275, boosted by a new partnerships and positive sentiment. Aside from Bitcoin all other altcoins are up between 1 and 3 percent at the moment.
Looking at the top twenty shows a similar picture with small gains for each crypto aside from Binance Coin which has jumped 7.5% on the day. BNB is currently trading at $14.63 which is a gain of over 20% since last weekend when it was trading at around $12.
Out of the top thirty altcoins Bitcoin Gold and 0x are performing solidly with gains over 8% on the day. Zilliqa is also having a good day with a 7% rise to $0.078. Only two altcoins in the top hundred are showing a double figure gain today and those are Pivx up 25% and Komodo climbing 11%. Pivx momentum comes a few days after the project announced that one of its core developers had achieved the first ever Zerocoin mint on a mobile wallet. A few coins are in the red today and those faring the worst include ChainLink and Dentacoin.
Total crypto market capitalization has climbed just under 3% since yesterday to $298 billion. The big bounce came on Friday when $11 billion entered the markets in just under two hours. Since last Saturday there has been an 8% climb in total market cap as the recovery gains momentum. Trade volume is showing very positive signs rising from $14.5 billion to over $26 billion on the day. Volume levels are currently at their highest since mid-May, aside from an anomalous spike on the 24th, so further gains over the weekend could be on the cards.
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
The post Cryptocurrency Trade Volume Reaches 11 Week High appeared first on NewsBTC.
by Martin Young on July 28, 2018 at 02:02PM