Cryptocurrency Market Update: Five Spikes for Coinbase Favorites
Current performing altcoins are Cardano, Stellar, Zcash, 0x and BAT.
The weekend has brought more declines in crypto land for all but a handful of altcoins. Markets have dropped once again falling below $250 billion as the bears maintain control. Bitcoin has remained level over the past 24 hours trading at $6,240, Ethereum however has dropped 1% to trade at $435 at the time of writing.
All of the altcoins are in the red marginally this Saturday, the only ones showing gains are the five that Coinbase mentioned in its recent announcement. VeChain has taken the biggest hit in the top 25 dropping 12% to $1.86. VEN has lost 25% over the past week from $2.46 this time last weekend.
Both Cardano and Stellar have made gains following the Coinbase blog post mentioning the possibility of them being listed. ADA is up 5.7% to $0.135 however it has been hammered over previous months losing 65% since the beginning of May when it was trading at $0.38. Likewise with XLM which is up 7% on the day to $0.20, over the week it has remained at this level but since the beginning of May Stellar has lost 54% from $0.46.
Zcash is the third coin in the Coinbase list and it is trading 10.4% higher this morning. ZEC is currently trading at $174, the same price as it was this time last week. Over the past month Zcash has declined 13% and since mid-May it has lost 54% from $375. Decentralized exchange protocol 0x has enjoyed a pump of 16.6% on the news which puts it at $0.947 at the moment. This is slightly lower than last weekends price and way down from $1.95 where it was in mid-May. The final altcoin on the list was BAT which has pumped 21.8% on the announcement. Basic Attention Token is currently trading at $0.325, which is 25% higher than its level this time last week.
These five altcoins are likely to see more pumps, and possibly dumps, leading up to the time when Coinbase does actually list them, or decides not to. Those with insider information will probably have benefitted from the predictable spike that these coins have had over the past few hours.
Generally though crypto markets are in decline at the moment with a total market capitalization fall of just below one percent on the day. Market cap is currently around $247 billion and trade volume stable at just below $11 billion. Further losses could be imminent if Bitcoin falls below $6,000.
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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