Over the past 24 hours, the cryptocurrency market lost more than $3 billion – going from $212 billion to $209 billion in less than one day. Major altcoins such as Stellar (XLM) and Cardano (ADA) were in the focus of the crypto news, falling from 3% to 6% accordingly.
On top of this, Stellar and Cardano were among the three cryptocurrencies alongside Zcash that are expected to be integrated into Coinbase, which is the fourth largest fiat-to-crypto exchange behind Bitfinex, Bithumb and Upbit.
Before the listing, there were some tokens such as Basic Attention Token (BAT) and 0x (ZRX) which surged in the range of 100 to 120 percent, doubling their prices. However, they also managed to record large losses afterwards. BAT, for example, saw a drop of more than 36%, going from $0.36 to $0.24.
Stellar, Cardano and Zcash all experienced major rallies following their Coinbase listing – which is why investors would likely see a drop in value to come in the next weeks to come. As technical analysts explain, there are different technical indicators that demonstrate a lack of momentum for both Bitcoin and the rest of the market.
The volume of Bitcoin, on the other hand, is still up from $3 billion to $4.4 billion from late October, while the daily trading volume of the crypto market is up around 30% from $10 billion to $13 billion.
Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
Crypto Market Adds $10 Billion, Currently With $134bn. In Circulation
EOS Skyrockets By 30% In 24 Hours: How Far Can This Altcoin Go?
Ethereum Price Increases By 13% Overnight, Is The Market In For Recovery?
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
Join us on Facebook
- The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
- US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino
- Central Bank Of Japan Examines Digital Currencies According To New Report
- Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
- Craig Wright Calls Out Ethereum For Being Unable To Scale
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News5 days ago
Bloomberg Editor: JPMorgan’s Cryptocurrency Will ‘Obliterate’ Ripple
Bitcoin News3 days ago
Bitcoin Is Closer To A First Positive Month Since July 2018
Regulation5 days ago
New Blockchain Framework Bill Passed Into Law In Luxembourg
Altcoin News4 days ago
Norwegian Anarcho-Capitalist City Adopts Crypto As Official Medium Of Exchange
Altcoin News3 days ago
ETH-Based Maker (MKR) Outperforms In February With 37% Gains
Bitcoin News5 days ago
Is It About Time Millennials Invest All-In On Bitcoin: Investor Talk
Regulation3 days ago
SEC’s ‘ICO Guide’ With A Gloomy Outlook For Cryptocurrency In 2019
Altcoin News3 days ago
Top Cryptocurrencies See Green, Ending Week With A Positive Action