Markets are in the green for a second day as cryptocurrencies struggle to claw back heavy losses over the past week. Bitcoin is leading the charge and has climbed to $8,600, up 5.3% on the day. Altcoins are also predominantly green and in recovery mode, some are gaining faster than others and one way out in front this morning is Qtum.
According to Coinmarketcap Qtum is trading 56% higher during the Asian session this morning. The token was trading at $13.60 this time yesterday and has jumped to $21.15 within 24 hours. The weekly picture is also positive for this altcoin as it has shown a 15.6% gain on prices last Tuesday. Over the month however Qtum is down 34% from $32 on February 20. Against BTC the coin is up 50% at 246388 satoshis from 166331 sats this time yesterday. At its peak in early January Qtum traded at 582182 satoshis, or almost $100.
Space based Qtum was added to Shapeshift a week ago which has kept momentum going while most others have fallen. Investment app Abra has also recently listed Qtum among their top twenty tradable cryptocurrencies. Additionally a recent conference in San Francisco brought positive news for Qtum where decentralized app developments were discussed for the platform.
Qtum is traded heavily in South Korea with Bithumb and Upbit taking almost half of the trade volume in KRW. Just over $600 million has been traded in the past 24 hours and Qtum’s market cap currently stands at $1.5 billion ranking the altcoin at 18th.
Other altcoins enjoying over 20% growth this morning include Cardano, Eos, and Ethereum Classic. Total crypto market capitalization has risen 6.7% in the past 24 hours to $336 billion with many hoping that this could be the start of the recovery.
More on Qtum can be found here: https://qtum.org/
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.
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