Cryptocurrency Charts Look Promising Again With the Top 50 Coins Moved Up
The new week of cryptocurrency trading looks promising for the array of coins and tokens as more than 50 percent of these have recorded promising price movements.
While the market has been largely bearish for the better part of Q3, the headwinds suggest a better outlook to year-end.
The market trade volume has surged to $15 billion as at midday trades of October 1, 2018 as against $13 billion 24-hours earlier.
Bitcoin has maintained dominance at 51.3 percent of the market capitalization and in terms of market price, it has gained 6 percent over the last 24 hours. Total trades recorded for Bitcoin over the same period comes to $4 billion with spot price at $6,616.
Ethereum is trading at $229.15 from the $200 mark it struggled at for the greater part of September 2018. Its market volume was $1.7 billion over the last 24-hours.
ETH has maintained its second position on the top 100 most capitalized cryptocurrencies’ list. This is without prejudice to the momentary displacement it suffered from Ripple during the last 7-days.
Ripple has performed creditably over the last 30-days to earn a place of continuous reckoning from market watchers and crypto signals providers. In 24-hours, it has recorded a trading volume of $1.3 billion to show that it is still very much in the reckoning of crypto traders
Bitcoin Cash has suffered moments of doubts over the last 4-weeks with talks of an impending fork of its algorithm. Despite all the talks of the possible impact of its protocol-split, it has egged on to $537 as at the time of this report.
Its market capitalization stands at $23 billion and its trading volume in 24-hours stood at $498 million.
EOS has weathered the teething challenges of its main net launch to come to a place of stability. Over the last 24-hours, it has garnered a market activity totaling $859 million while its market capitalization is $5 billion.
It should be worthy of mention that the series of Airdrops associated with EOS this year is a huge selling point that has kept activity upon its protocol.
Stellar has witnessed some heart-warming news this year that cannot overlooked. This perhaps explains its steadying on the top 10 crypto charts as the last quarter of the year roars to a start. Its market cap is at $4.9billion and trading volumes in 24-hours is $68 million.
Litecoin has shown some promise on the charts and this has steadied its 24-hour volume at $481 million to make it one of the top 5 most traded crypto over the last day. Its market cap is $3.5 billion and price per coin is $60.83.
Tether has been largely promising this year with its attraction of market volumes when other cryptos faced a free-fall. Market cap of Tether is $2.8 billion while its 24-hour volume is $3.3 billion, which shows it ranked second place to Bitcoin in terms of activity over the last day.
Rest of the Pack
Cardano, Monero, IOTA and DASH have also seen worthwhile activity in 24 hours, and they are largely representative of what is happening to the Top 50 cryptocurrencies by market capitalization. The outlook for the market looks promising amid the minimal price gains and losses so far recorded.
The volatility of crypto prices, which shows in the absence of a pattern of price rise or fall, recently made US congressmen to request the SEC to provide guidelines for crypto operations. The purview was the insistence that tokens should be clearly distinguishable from securities, and SEC has to delineate this.
Anthony Pompliano, founder and partner at Morgan Creek Digital Assets, has summarized the main crypto industry events of the week in his tweet September 30.
As industry experts have opined concerning developments in cryptocurrencies this past week, several leads pointed to mixed optimism. Bitmain opted for an Initial Public Offering on the Hong Kong Bourse. Google reversed its ban on cryptocurrency ads, and Circle hinted on its launch of a Stablecoin. These developments indicate that the market could face an upswing in Q4.