Crypto Market Wrap: Correction Cools Off But May Not Be Over Yet

Crypto markets recover from their epic plunge; Binance Coin, Cosmos, NEM bounce back, Tezos still falling. 
Market Wrap
The brakes have been put on the big crypto pullback for now as things settle down while we enter the weekend. Bitcoin’s plunge had been halted above $7,000 yesterday and the altcoin avalanche came to an end, for now. Total market capitalization has moved back above $230 billion once again.
Bitcoin hit an intraday low of $7,045 a few hours ago but has already begun to march back upwards and is currently trading above $7,400. Volume, however, is starting to trail off which could be a sign of further downsides. The correction may not be over just yet.
Ethereum has remained stable over the past 24 hours and is trading just above $240. Since last weekend ETH has pumped an epic 37 percent and things are still very bullish in this camp.
The top ten is back in the green again during early morning Asian trading. Binance Coin has rebounded with a surge of 8 percent following yesterday’s double digit dumps. This has sent BNB back over $26. Stellar and Cardano are both recovering 4 percent today following their 14 percent dumps yesterday.
The top twenty is also starting to regain its composure after yesterday’s digital avalanche. Leading things at the moment are Cosmos and NEM both getting an 8 percent boost. Tron and IOTA are both up over 5 percent and the rest are all up a little. That is aside from Tezos which is in the red dropping 3 percent at the time of writing.
FOMO: SOLVE Surges into The Top 100
Today’s FOMO goes to SOLVE which has pumped 37 percent entering the top one hundred. South Koreans are all over it on Upbit which is getting over 60 percent of the total volume. The Ukrainian healthcare administration and payments based blockchain project token is selling like hot cakes at the moment.
BitTorrent Token is also getting a dose of FOMO as it pumps 28 percent on the day and Holo is the third altcoin above 20 percent. There are no major dumps going on right now but at the bottom of the pile is Dent and Tezos.
Total market capitalization 24 hours. Coinmarketcap.com
Total crypto market capitalization has regained a couple of percent to reach $232 billion today. After such an epic dump which lost over $30 billion it was inevitable that cryptos would pick up a little, however. Daily volume has dropped back to $93 billion (which is still very high) and the weekly and monthly uptrends are still holding for now.
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.
The post Crypto Market Wrap: Correction Cools Off But May Not Be Over Yet appeared first on NewsBTC.

ENCRY: The First Blockchain Platform for Telecom
Wednesday July 17, 2019

ENCRY is preparing to launch public testing of their telecom-oriented blockchain. Telecommunications is a fast-growing industry that has always been at the forefront of new technologies. One of these technologies, that can significantly improve...

US is About to Crackdown on Entire Bitcoin Industry: Mati Greenspan
Tuesday July 16, 2019

The United States government is about to crack down on the entire bitcoin industry, according to Mati Greenspan of eToro. The senior market analyst tweeted on Monday that Treasury Secretary Steven Mnuchin’s remarks on...

The post US is About to Crackdown on Entire Bitcoin Industry: Mati Greenspan appeared first on 12bitplay - Bitcoin Play.

The post ENCRY: The First Blockchain Platform for Telecom appeared first on 12bitplay - Bitcoin Play.

Analysts Believe Bitcoin Looks Bullish Despite Growing Fears of a Trump Ban
Monday July 15, 2019

Bitcoin and the aggregated crypto markets have faced an extension of the downwards pressure that they have been battling with over the past several weeks, which briefly sent BTC back into the four-figure price...

The post Analysts Believe Bitcoin Looks Bullish Despite Growing Fears of a Trump Ban appeared first on 12bitplay - Bitcoin Play.

You may also like...