Cryptocurrency Market Update: Christmas Selloff Has Slowed

Crypto markets recover a little from Christmas crunch; Bitcoin Cash, climbing, Polymath pumping.

The Christmas crypto selloff did not last long and markets have already found support and begun to rise again. The bounce below $130 billion market capitalization lasted about a day and things have climbed back above those levels today, but only just.

Bitcoin has remained below $4,000 so the recovery has been with the altcoins. From an intraday low of $3,760 BTC has recovered back to around $3,840 but trade volume has dropped throughout the day indicating a slowing of momentum.

Ethereum has made 3% back on the day to take it above $130 again. It fell to $125 during the Christmas day correction but has made a recovery and is heading upwards at the time of writing. On the week ETH has made 30%.

The top ten is mostly green at the moment but gains are very small. Bitcoin Cash being the most volatile has led the way with 9% taking it back over $175. Tron is the second best performer with 4% gains on the day, the rest are a percent or two and EOS is actually in the red a little.

Ethereum Classic and Neo are showing the most movement in the top twenty but it is only 4%. Maker and Waves are falling back and the rest show very little movement from yesterday’s levels.

Polymath and ODEM are getting the Boxing day fomo treatment with pumps over 20% for the pair of them. At the messy end of the top one hundred is DEX dumping over 30% at the time of writing. Aurora is also in pain with a 20% loss during the Asian trading session.

Total crypto market capitalization is currently at $130 billion which is a tiny gain of 1.5% on yesterday’s levels. Daily volume has fallen from $23 billion to $18 billion as things cool off a little. Since last Wednesday crypto markets are up 7%. Bitcoin dominance is falling and is currently back down to 51.5%, its lowest level since early October.

FOMO Moments is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.

Let’s block ads! (Why?)

Source: Newsbtc