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Crypto markets moving slowly higher; Ethereum leading, Iota, Monero and Maker doing well.
Crypto markets have continued their slow march upwards for another day. Gains are minimal but digital currencies are gaining at the moment as total market capitalization stays above $130 billion.
Bitcoin has crept up 1.7% on the day to just below $3,900 at the time of writing. It reached an intraday high of $3,950 a few hours ago before pulling back slightly. Daily volume has increased by a billion dollars to $5.2 billion and the trend since new year’s day has been positive.
Ethereum is leading the pack today with a solid 8% gain to take it over $155. ETH has remained ahead of XRP and held on to second spot, increasing that gap to $1 billion in market capitalization. The upcoming Constantinople hard fork and network upgrade is likely to spell further gains for Ethereum.
The top ten altcoins are all in the green for the third day of the year at the moment. Aside from ETH, EOS has made the best gain during the day’s Asian trading session with 6.2%. This has enabled it to extend the lead over Stellar in sixth which has only made 1.2%. Litecoin is up almost 4% as it approaches a market cap of $2 billion.
The top twenty is also all green at the time of writing with Maker leading the way adding over 6% to take it close to $500. Iota and Monero are also getting solid gains of over 5% right now and the rest are climbing 1-3 percent on the day.
Today’s big pump is Chainlink which has made 20% topping the top one hundred in terms of performance at the moment. Augur and Dentacoin are also doing well with 14% added on the day. Getting bashed is Digitex Futures dumping 15%, the only altcoins losing double digits at the time of writing.
Total crypto market capitalization has increased by a further 3% on the day taking it to $133 billion. Daily trade volume has also seen a healthy gain from $13 to $17 billion and a steady uptrend is forming. On the week markets have recovered by 4.7% and they are at the same levels as they were this time last month. Bitcoin’s dominance has slipped back to 51% as Ethereum recovers stronger, ETH has increased from below 9 to over 12 percent market dominance in the past two weeks.
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.
The post Crypto Market Update: Bitcoin Dominance Slips as Ethereum Recovers appeared first on NewsBTC.