As the cryptocurrency markets cool off, we can see that IOTA rises and is already 16% on the upside following solid gains on the past couple of days. Meanwhile, the coming altcoin news show that BNB, Tron and Monero are all sliding – or correcting – to new levels during the Asian trading season today.
It all started when Bitcoin started falling back from the high of $8,760 which triggered a mild correction on the market. Bitcoin dropped 3% to below $8,500 in a sell off which accelerated over the past two hours and led BTC to a current price of $8,640.
Ethereum has followed the trend and followed a couple of percents back to $263. As the latest cryptocurrency news show, Ethereum is coupled to the movements of BTC, especially on the downside. Meanwhile, as IOTA rises, the top ten is all red at the moment and the altcoin losses are starting to mount up.
Ripple (XRP), for example, is the only altcoin that is surviving without major losses on the day. However, analysts believe that this will change if the markets drop further. Binance Coin (BNB) is also losing and confirmed a 5% loss with the slide back to $32 while Litecoin (LTC) is back at $111 after losing almost 3% on the day.
IOTA rises and has so far pumped over 16% as the Tangle team announced the next evolutionary stage for the platform. A move closer to full decentralization with ‘Coordicide’ is what has driven the IOTA rally today as the price of the altcoin gets close to $0.50.
— IOTA (@iotatoken) May 28, 2019
The big dumps on the market are continuing as Tron, Monero and Ethereum Classic are all dropping between 5% and 6%. As the altcoin news show, IOTA rises but many cryptocurrencies are starting to fall back with a couple of percent lost by each.
One of the altcoins which is featured everywhere is Aurora (AMA) which is a pumped coin that surged 24% on the day for no apparent reason. The total crypto market capitalization has shrunk by $7 billion over the past 24 hours and returned to the $267 billion mark this morning. Currently, the market cap is at $271 billion which is an indicator of a stable correction, marking a loss of only $3 billion compared to the levels yesterday.
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