Cryptocurrency Market Update: OKEx New Margin Trading Pair Propels XRP

FOMO Moments

Markets still climbing today; XRP leading the way, Polymath getting pounded.

Crypto markets are still moving upwards this Tuesday and momentum is positive. A number of altcoins are making strong gains today which has pushed total crypto market capitalization closer to $215 billion, its highest level for a couple of weeks.

Bitcoin has not been the catalyst this time and has remained at the same level overnight. BTC is currently trading at Just over $6,400, but poised for further gains. Ethereum has also remained static over the past 24 hours and is still around the $210 price level. It too could start to climb if market momentum continues.

XRP is today’s top gainer, not just in the top ten, but the entire top one hundred. XRP has added 13% on the day according to Coinmarketcap taking its price to $0.523. Trade volume has over doubled from $400 million to $850 million as XRP leads the markets during Asian trading today. There is a whole bunch of rejoicing on the XRP daily Reddit but little explaining the pump.  However, it could well be due to the new XRP/BTC margin trading pair being added to OKEx;

NEW MARGIN TRADING PAIRS: To meet the public demand, we will open the margin trading pairs XRP/BTC and LTC/BTC from 08:00 Nov 6, 2018 (CET).#OKExAnnouncementhttps://t.co/dVvGvRZXZb

— OKEx (@OKEx) November 6, 2018

Japanese exchange Bitbank is leading the exchanges for XRP trade in JPY, with Binance and Upbit also up there. Over the past seven days XRP has made 17.5% percent and it is currently hunting down Ethereum for that second spot, just $600,000 in market cap away.

Elsewhere in the top ten Stellar and Cardano are making 4% gains but the rest are not moving much. Further down the list in the top twenty Tron and Zcash are both adding 2.5% to their values on the day but the other altcoins have not done much since yesterday.

Aside from XRP, WAX is also performing well with a 9% gain on the day, MaidSafeCoin is in third spot with a 6% climb. Suffering at the red end of things in the top one hundred is Polymath dropping almost 8%, closely followed by Ravencoin and Chainlink both falling over 6% on the day.

Total crypto market capitalization has reached $214 billion, adding nearly 1.5% since the same time yesterday. Over the past week $10 billion has entered the crypto markets resulting in a 5% climb and many are speculating that this could be the beginning of the recovery. Bitcoin’s dominance has fallen back to 52% largely at the expense of XRP which is having a grand day.

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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