Cryptocurrency Trading Update: Maker Making Moves in Motionless Market
Markets still sluggish on Saturday; Bitcoin Gold and Maker moving.
Saturday is looking just as dull as Friday in crypto land. Markets have yet to make a move and everything is still static. When this has happened previously a big dump usually occurs as the bulls are getting nowhere. Total market capitalization is still just above $220 billion.
Bitcoin hasn’t moved in 24 hours and is hovering around $6,600 where it was this time yesterday. BTC had a bit of a spurt a few hours ago adding 50 bucks to its price but on the day it is at the same level. Ethereum has nudged up a little, 1.6% to reach $226 but big movement is still wanting.
The altcoins are generally in the green at the moment but gains are marginal. There are no major movers in the top ten at the moment with nothing adding more than 1.5% on yesterday’s prices. XRP has actually fallen back a little dropping 1.3% to trade at $0.518.
There is a little more movement in the top twenty with Binance Coin leading the pack gaining 3% on the day to reach $10.64. Also heading in the right direction is Iota, Tron and Nem all making over 2.5% in the past 24 hours.
Today’s big pump in the top one hundred is Maker which is jumping 17% at the moment to trade at $620. MKR has had a top week adding 33% to its value by climbing from just over $460 this time last Saturday. Stablecoin ecosystems have gained a lot of traction in recent weeks and DAI has done the same for MakerDAO.
Chainlink is also having resurgence with a 16% pump on the day. Bitcoin Gold and Loom Network are both making 8-9 percent at the moment. There are no major losers today though Nexo is at the top of the reds in the top one hundred dropping over 4%.
Total crypto market capitalization has reached $220 billion but has only made less than one percent from the same time yesterday. Over the past seven days that margin is closer to 2% but the week has generally been flat. Bitcoin dominance is unchanged at 52% and a big movement could be seen in the next 24 hours which, as we have seen so many times before, is likely to be southwards.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.