Hope for Crypto Recovery as Stellar (XLM) Leads the Way

FOMO Moments

Crypto land is still at the bottom, Stellar doing well, VeChain getting smashed

The hope in crypto land at the moment is that the bottom has been reached and a recovery will now begin. However we have seen bottoms before and they have repeatedly been followed by lower lows. Total market capitalization has inched back up today as some altcoins recover from their big dip.

Bitcoin remained above $6k and has climbed back 1.7% on the day to trade at $6,450. It could form a strong reversal if it can climb back to the critical $6,800 level over the weekend. Market dominance has just surpassed 49% indicating more strength in Bitcoin than any of the other cryptos. Ethereum has not benefited from any market recovery and is still flat on the day at $360 which is below August 2017s peak price of $400.

Only Stellar is making any significant moves in the top ten, climbing 7.3% to $0.221 and 5.2% against BTC to 3425 satoshis. On the week XLM is down over 17% from its $0.268 high this time last Friday. Over the past month though Stellar has been one of the better performers, it is still up 10%. Binance currently has over 40% of the total volume in XLM, it has increased from $65 to over $80 million in the past 24 hours. Litecoin and Cardano are marginally in the green but XRP, EOS and IOTA are still falling.

In the top twenty privacy cryptos Dash and Zcash are both recovering by around 5% at the time of writing. OmiseGO and Tezos are up roughly 2% from yearly lows yesterday but Neo and VeChain are still dropping. VEN has slid a further 10% today to $0.010 though trade volume has jumped significantly. It is the worst performing altcoin in the top one hundred. Top rallies in the top one hundred at the moment are ChainLink up 14.7% and Dentacoin 9% higher on the day.

Total crypto market capitalization has rebounded slightly from its 2018 low yesterday. It is up just over a percent though to around $226 billion, still massively down over the past 9 months. It is bargain central for altcoins at the moment, and many have not been this low for over a year. Trade volume has dropped slightly to $13 billion and there has been no big bounce to signal a real recovery yet.

More on Stellar can be found here:https://www.stellar.org/

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 Hope for Crypto Recovery as Stellar (XLM) Leads the Way appeared first on NewsBTC.

10.08.2018 / 02:20 60
Cryptocurrency Market Update: Waiting For Signals on a Flat Monday Cryptocurrency Market Update: Waiting
FOMO Moments Markets are flat this morning with few coins moving; ChainLink doing well but Aelf, TenX and Bitcoin Gold suffering. As we start another
Cryptocurrency Trade Volume Reaches 11 Week High Cryptocurrency Trade Volume Reaches 11
FOMO Moments Markets are recovering from a two day correction; Stellar, Binance Coin, 0x, and Pivx performing well. As we enter the weekend markets
Bears Regain Control as Crypto Selloff Continues Bears Regain Control as Crypto Selloff
FOMO Moments A red start for the weekend in Crypto land; altcoins falling heavily are Dash, Cardano, Monero and Nem, only VeChain is climbing
Hopes of Crypto Recovery Fade as Altcoins Lose Ground Hopes of Crypto Recovery Fade as
FOMO Moments Crypto land is in decline; altcoins getting hit hardest are Stellar, VeChain, and OmiseGO, only Dash on the up The correction has
Cryptocurrency Market Update: Weekend Gains Turn into Monday Losses Cryptocurrency Market Update: Weekend
FOMO Moments Crypto land is in limbo this Monday morning; few altcoins are gaining, Tezos, Digibyte and Mixin among them. The weekend momentum has
Happy Sunday in Crypto Land as Markets Pump by $14 Billion Happy Sunday in Crypto Land as Markets
FOMO Moments Crypto land is doing well today, altcoins on the up include Bitcoin Cash, Neo, Tezos and Bitcoin Diamond. The weekend has been a little
Comments (0)
Add a comment
Comment on