Crypto market
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Today the cryptocurrency market has seen a minor recovery overnight. The US$5 billion bounce back has helped the crypto market recover yesterday’s loss. With the minor recovery, the crypto market capitalization has crossed over US$120 billion.

However, the bounce back is still not so much exciting till now. Most of the momentum in the cryptocurrency market has come from Ethereum, EOS, NEO and Maker.

A Quick Look at the Major Cryptocurrencies of the Crypto Market

  • Bitcoin price has held on to the support level at US$3,600. However, the ‘Bart shaped’ pump has helped the price to bounce back again to the US$3,700 level. For now, Bitcoin’s trading range is maintained. For the last couple of weeks now, Bitcoin is still trading sideways in the 4-hour chart. Bitcoin price has made 15% since the crypto market witnessed a severe dump a month back.

Crypto market

  • Ethereum price has shown good bounceback. It gained 8% on the day, which took the ETH price nearer to US$130. More short term goals are expected as Constantinople hard fork is scheduled tomorrow. With this rapid improvement in ETH price, the lead of XRP is shrinking. The gap of market capitalization has come down to just US$200 million as Ripple (XRP) managed to recover just 2.5% on the day.
  • All the altcoins in the ton-10 list are in green, where the bounce back is led by Ethereum (ETH).
    • The next significant move among the leading cryptocurrencies has come from EOS, which has reportedly gained 6% over the last 24 hours range. The EOS bounce back has moved the price around US$2.45.
    • Other altcoins such as Bitcoin Cash, Litecoin and Tron have also made significant gains in the last 1-day range. All of them have bounced back by 4-5%.
    • The rally today is led by Neo and Maker in the top-20 altcoin list. These cryptocurrencies have gained around 6-8%.
    • Other altcoins that are making significant gains today include Monero, Binance Coin, Iota, and Cardano. They have increased by around 5%.
    • Some lesser-known altcoins such as Quarkchain and Augur are getting a major boost in price today. They have jumped by more than 25% today.
    • The double-digit increase is also witnessed in cases of WAX and Chainlink during the Asian trading session.
  • Some altcoins and stablecoins are still in the red. One such example is ODEM, which has dropped by fractions of a percent.

Conclusion

The overall crypto market has seen a 4% recovery since yesterday. The US$5 billion lost yesterday has been recovered today during the Asian trading sessions. In the range bound channel, the pump and dump culture is still going strong.

 

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