Cryptocurrency Market Update: Friday Correction Back to $130 Billion

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FOMO Moments

Cryptocurrency markets retreating a little this Friday; Bitcoin Cash, SV and EOS falling back, Tron static.

There has been a slight pullback on crypto markets today and further upward momentum could not be maintained. Total market capitalization has retreated a little but remains above $130 billion.

Bitcoin could not break above strong resistance at $4,000 and has fallen back a little to $3,850 at the time of writing. Daily volume has dropped again also from over $5 billion to $4.5 billion as momentum wanes. BTC’s loss on the day is currently 1.75%.

Ethereum has also pulled back but only a fraction and is still over $150. The run up to Constantinople should keep ETH buoyed up and even extend gains back to $200 over the coming month. Its lead over XRP in third has been extended to $1.1 billion.

The top ten is mostly red at the time of writing as markets correct once again from yesterday’s prices. The two altcoins losing the most are Bitcoin Cash, as usual, and EOS, both shedding over 4%. Bitcoin SV is back below $90 again with a 3% loss and the rest are dropping 1-2 percent during the day’s Asian trading session. Only Tron has remained in the green but only by a tiny fraction.

The top twenty is equally rouge as altcoins fall back behind their big brother. Ethereum Classic has taken the biggest hit of 4% at the time of writing. Monero and Zcash are down over 3% each and the rest are sliding around 2% on the day. Maker is the only crypto in the green but that is less than a percent.

A new entry to the top one hundred is getting today’s fomo pump as REPO surges 45%. DEX and Chainlink are both up around 20% at the moment but they are likely to dump again the following day. Only two altcoins are dumping double figures right now, Aurora and Kucoin Shares dropping over 10%.

Just over 2% has been lost from total crypto market capitalization over the past 24 hours. This has dropped the figure back to $131 billion. Daily volume has tailed off from $17 to $14 billion as the markets ebb and flow. The weekly picture looks much better as markets are up 9% since this time last Friday.

FOMO Moments is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.

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