Crypto Markets Sluggish on Saturday as Bitcoin Increases Dominance

FOMO Moments

Markets are meek today; Monero, Lisk, and Nano inch up, Bitcoin Diamond dumping.

As we enter the weekend in crypto land markets have remained relatively stable and have even made a little upwards progress. Total capitalization has crept back over $215 billion but no real motions have been seen to spur a measureable recovery.

Bitcoin has recovered all losses since the SEC announcement in the week which is a good sign. BTC is up 2.7% on the day to trade at just over $6,700. On the week it has made just 3.4% however and needs to pass $7k for any real momentum to gather. Ethereum has stalled once again and has not really moved over the past few days getting stuck at just below $280 on the day.

Altcoins are largely in the green according to Coinmarketcap, however gains are marginal once again today. In the top ten only Monero is showing a quantifiable gain on the day climbing 4.5% to $93, the rest are between 1-2% higher and some such as XRP haven’t moved.

There is very little going on in the top twenty with Binance Coin and Zcash showing the largest gains of just below 4%. None of the other cryptos have really moved a lot in the past 24 hours. Further down the list are Lisk and Nano which are both climbing by around 14% at the moment. LSK is trading at $5.26 while Nano is at $2.45, still very low levels for the year.

In the top one hundred Qash has made the largest pump at 30% followed by Wanchain at 21% and Substratum jumping 19% on the day. Yesterday’s pumps have predictably dumped today; Bitcoin Diamond is down 13%, while CyberMiles, Cortex and Theta Token have all lost around 8%.

Total crypto market capitalization has nudged up another 2% largely due to Bitcoin’s climb. Today it is at $216 billion but has made no real progress on the week. Compared to this time last month crypto markets have dumped 28%, or over $80 billion so there is a long way to go for them to be considered bullish once again.

Bitcoin dominance has climbed to 53.6% which is close to its highest level this year and largely at the expense of Ethereum which has been murdered in recent weeks.

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.

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