We’re on for another flat day as the crypto landscape for the Top 100 turns horizontal and monotonous. The board has not really changed a lot with the reds yesterday turned green today and vice versa but no big movement at all.
The market capitalization is now at $211 Billion, were still frozen on the same levels as the past two days which might be good or bad depending on your perspective. The trading volume has retracted a bit at $11.4 Billion. The BTC dominance is inching lower at 53.7% signaling the altcoins attempt to overcome the current flat market but its still too high for a robust market movement.
The Bitcoin price is stable at$6725and was on this same level yesterday when we wrote our crypto market recap. Despite the slow price action, analysts are hopeful that there is a renewed bullish sentiment. According to MarketWatch Nick Cawley, markets analyst at Daily FX, if BTC can close above this triangle over the next few sessions, it will indicate renewed bullish sentiment that could push the price back to the 200-day moving average and the spike high between $7,200 and $7,300.
Ethereum is still not having any decidedly positive movement as it remains stuck to the $200 levels that it's been on for the past 2 days.
The rest of the Top 10 is not exactly dropping but not moving either. Stellar is on the lead for the biggest gainer at 3.82% and has reached the trading price of $0.243. Cardano is up as well at 1.82% and trading at $0.076. Monero and EOS are positive but under 1%, and the rest are on the reds below 1%.
The Top 25 on the crypto list are performing better with Omisego reaching 6.73% on the day and trading at $3.33. Neo and Zcash are not far behind at 5% higher since yesterdays market recap. On the negative side, we have Dash, Tezos, 0x (which is having a moment with Coinbase and accusations of insider trading), Maker, and Bitcoin Gold on the reds with Dogecoin leading with a big loss of -7.64% on the day.
Further down below on our Top 100 crypto, is a mix of red and greens with not a big difference in either direction. We do have some pumps as usual. Ravencoin, a relatively unknown altcoin is pumping at 41.33% today. It should take a day or two and it will expectedly dump, as is common with these huge price movements. Expert traders can take advantage of these prices but buyers beware -especially if you're a new trader. Polymath comes as a far second but still on a double-digit gain today at 14.13% and trading at $0.226. PIVX has joined the double-digit gain party too at 10.82%. Just slightly outside the 10% are Odyssey (which we are seeing more of lately), Qtum, as well as Golem. On the other side of the scale, we have Electroneum losing ground at -6.98%.
Overall, no real movement on the Top 100 today. On the week, the crypto markets are still up at 4.5% and over the past month, they have made over 8%. They’re slowly dripping out though and will continue to unless something pushes the market back to action.
Anyhow, that’s the end of our market recap today. Safe trading to all and good day!
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: I am a writer for CoinDNA. CoinDNA is an educational website that aids users in research, the first step of their investment journey, providing insights to help navigate investment decisions, including market data for individual tokens, a daily market report, and custom frequently-asked analytics.