Markets are in pain and have not recovered; Only 0x is making progress today.
There has been no notable recovery or bounce following yesterday’s 15 billion dollar dump. Markets have remained low and are just over $200 billion total capitalization at the time of writing.
Bitcoin could not make any further gains and has remained at the level it fell to yesterday; $6,290. Further declines could be on the cards and $6k seems to be the target for another bounce off the bottom. Ethereum has also plummeted but has recovered back to just below $200 where it has held after dropping to $188.
Altcoins are all still in the digital ditch and have made no recovery. The top ten is in a bad state with most cryptos back at their lowest levels for the year. EOS has fared the worst with another 2.6% drop on the day following yesterday’s 9% plunge, it is currently trading at $5.19. XRP and Litecoin have pulled back a percent or two but are still very low.
The top twenty is all red again for the second day with Dash and Tezos falling over 2% and the rest losing around one. Ethereum Classic is in a bad shape with a 4.8% drop today below ten dollars to $9.46. Looking at the bigger scene of the top one hundred reveals that HyperCash and Power Ledger have nosedived a further 10% today following yesterday’s rout.
Only one altcoin has made a recovery today and that is 0x which has bounced 17% back to reach $0.770. Daily volume has pumped from $12 to $75 million as ZRX gets listed on Coinbase Pro.
ZRX is launching on Coinbase Pro! The ZRX/USD, ZRX/BTC, and ZRX/EUR order books have entered transfer-only mode. Traders can deposit ZRX, but cannot yet place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/SomOUqoXhv
— Coinbase Pro (@CoinbasePro) October 11, 2018
On the week 0x is up 22% and over the past month the DEX protocol based altcoin has made 63% to reach its current level. ZRX has been a little more stable than other altcoins which have pumped and dumped this year.
On the day total crypto market capitalization has remained stable at just over $200 billion. Following a dip to $196 billion 12 hours ago markets have recovered a little but are still $20 billion, or 8%, down from their levels this time last week. The bears are still in full control of the trading direction in crypto land.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
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