The cryptocurrency market is in a steady decline this Monday morning. A few altcoins have been gaining including Tezos, Digibyte, and Mixin among them.
Right now, it seems like the weekend momentum has come to a halt on Monday and markets pulled back a little. The total market capitalization came closer to $280 billion but has fallen back.
Bitcoin reached $6,800 after which it remained just under this margin at $6,780. The lack of bullish action, according to analysts, is what pulled most of the other altcoins into the red again.
Ethereum, on the other hand, has pulled back 1.5% in the past 24 hours to trade at $485. Most of the altcoins are now in the red and have lost the gains that they made over the weekend.
Right now, EOS is marking the biggest decline in the top ten, falling by 4.5% on the day to $8.60. This puts back at a similar level to the same time last Monday, where trade volume over the past day has remained at around $500 million.
VeChain is the biggest loser in the top twenty – with a 4.8% fall on the day to $2.48. Meanwhile, OmiseGO and Ontology have both lost between 5% to 6% wiping out all gains over the past 48 hours.
The total crypto market cap has shrunk by 1.3% on the day, coming closer to $273 billion. The daily trade volume has also fallen from $12 to $11 billion, indicating another slowdown in momentum. The next direction is hard to predict as neither bears or bulls are getting the incline at the moment.
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