Crypto Market Wrap: Bitcoin Driving Momentum as Dominance Hits 2 Month High
Crypto markets are back in the green; Bitcoin leading them, Monero, Tezos and BAT top performers.
Crypto markets are back in the green following a day that looked like a bigger dump was about to unfold. Markets had the jitters following the Binance BSV bashing but they quickly recovered and $5 billion or so has returned to crypto assets pushing total capitalization back over $175 billion again.
Bitcoin is leading the charge as it jumps over 3 percent to reach a five day high of $5,270 before a minor retreat. The next major resistance level for BTC is at $5,400 where it hit last Thursday. A break through this will lead on to higher highs and the rest of the market is likely to follow.
Ethereum has mirrored the gains of its big brother with 3 percent also to reach $167. There have been no independent movements for ETH since the rally a week ago. It is playing the digital sheep right now and copying Bitcoin.
The top ten is pretty much all in the green during the days Asian trading session though gains are mixed. The top performer is Binance Coin which has added 4.5 percent to reach $19.75, a three month high. The rest have made a percent or two as BTC pulls them up.
The top twenty paints a similar picture with the exception of two altcoins. Tezos is pumping ten percent as it reaches $1.16. The momentum appears to be coming from the French finance ministers public endorsement of XTZ a couple of days ago;
"I am thinking in particular of Tezos which allows the development of a blockchain protocol overcoming the known defects of public blockchains."@BrunoLeMaire, France Minister of the Economy and Finance in interview to @MagazineCapital #Tezos $XTZhttps://t.co/5jRz3N9MkX— Tezos Announcements (@tezosbulletin) April 15, 2019
Monero is also having a strong run now as it adds 6 percent climbing to $68. Ontology also doing well with over 4 percent on the day and as expected BSV is still falling back, now down to $56.
FOMO: BAT Getting Attention
Todays fomo spike is BAT which has jumped 12% on the day as volume ramps up to $50 million. More progress and adoption for the Brave browser and BAT micropayments is adding to the momentum.
Aside from Tezos there are a few other altcoins doing well today and the include Status, Theta, WAX and Enjin Coin. ABBC Coin is the only one getting dumped at the moment as it loses 8 percent on the day. There are a few that are flat but the majority are gaining at the moment.
Total market cap 24 hours. Coinmarkertcap.com
Total crypto market capitalization has reached $176 billion following a gain of around $4 billion. Bitcoin is solely responsible for the current momentum and that has been reflected in its market dominance which has increased to 52.4%, its highest for two months.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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