A $10 Billion Christmas Gift for Crypto as Rally Continues
FOMO Moments
Crypto markets rallying once again; Ethereum, XRP and NEO leading the way.
The Santa crypto rally has continued for the day before Christmas. The minor pullback on Saturday was just that, minor, and things have moved upwards again as cryptocurrencies make further gains from their lowest levels of the year. Total market capitalization is back over $140 billion once again.
Bitcoin held support at $4,000 after a brief period just below it on Saturday. It spent most of yesterday at the same level but has continued to climb this Monday morning to reach an intraday high of $4,270 a few hours ago. BTC is currently up 5% on the day to $4,240 and poised to make further gains.
Ethereum has had a rare spurt of action and has shot up 16% on the day taking it to around $150. Since its lowest point of the year, just over a week ago, ETH has made a 75% recovery. It has closed the gap a little on XRP but that too has had a strong day with a similar gain taking it to $0.43.
The top ten is all green at the time of writing. Best performing cryptocurrencies after XRP and ETH are EOS, Litecoin and Tron all adding 10% on the day. Tether has slipped from forth to ninth with its static market cap as the others make a recovering.
Gains are even greater in the top twenty with Neo running away with things at 17% gains. Cardano is also making a strong upward movement at the moment with 13% added. Binance Coin and Ethereum Classic are both up around 9%, the rest 5-6 percent.
PIVX is getting the fomo treatment and is the top performing altcoin in the top one hundred at the time of writing with a surge of 50% on the day. Qtum is also up over 20% right now. There are no major losers at the moment but DigixDAO is back down 5% as all others are gaining.
Total market capitalization has climbed for the seventh day in a row. It is currently at $144 billion, up 7.5% from the same time yesterday as $10 billion was pumped into crypto overnight. Daily trade volume is up to almost $24 billion which is also a very bullish sign. The Santa rally is not over yet but there is still a very long way to go in crypto land.
FOMO Moments is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post A $10 Billion Christmas Gift for Crypto as Rally Continues appeared first on NewsBTC.
by Martin Young on December 24, 2018 at 01:30PM