There is a wave sweeping through the market, a rejuvenation tide and Bitcoin Cash (BCH) is rising with it. On a weekly basis, it’s up 22 percent and trading above $850, our buy trigger with Bitcoin Cash bulls aiming for $1300 in the short term if not $1800. On the development front, Bitmain’s smart contract proposal will make BCH blockchain superior and boost prices in the long term.
From the News
As a successful Bitcoin core fork, the development of Bitcoin Cash often draws a lot of attention. It even gets better when a company behind one of Bitcoin Cash largest mining pools, Bitmain lays out their proposals. The reasons behind their idea is pretty straight forward and besides offering a means of cash payment and cross border fund transfer, users want some sorts of smart contract capability on top of Bitcoin Cash.
There is Colored Coins, a concept that allows representation of real world assets on the blockchain. While it seems perfect and initially meant for the Bitcoin core network, the implementation of the anti-dust patch prevented it from running. The concept of colored coin depends on micro-transactions well below the specification of the BTC community. Anti-dust prevents the network from being Sybil attacked.
Since is a failure at Bitcoin, Bitcoin Cash community and Bitmain are proposing the use of Omni Layer Protocol, a technology that Tether use. The cool thing about this protocol is that there won’t be changes on the underlying consensus because it simply acts as another layer that runs on top of the Bitcoin Cash blockchain.
Permissionless innovation on #BitcoinCash moves forward with Omni Layer protocol ported to BCH by Bitmain developers.
The forked protocol is called 'Wormhole' and it will feature operate on a base currency (original token) dubbed 'Wormhole Cash' (WHC).https://t.co/LnBNSa5VPI
Furthermore, through use of Wormhole, smart contracts capabilities will be possible on Bitcoin Cash network. All this is possible because of thanks to the recent Bitcoin Cash hard fork. With this, the Omni Layer protocol will make use of OP_Return transactions and the bigger data-carrier-size which was increased to 220 bytes.
After Stellar Lumens and Cardano—coins which benefited from CoinBase announcements, we have Bitcoin Cash ranking third in terms of performance in the last week. BCH is up 22 percent and what’s even more interesting is where prices are reacting at.
From previous analysis, we note that despite BCH sliding from their ATHs, they were also trending at key support lines.
$600 was one of them but what is standing out as far as price action is concerned is that rejection of lower lows right at the 11 month support trend line. What we have now is a nice bullish engulfing candlestick confirming this three bar bull reversal pattern, the Morning Star.
So, because of this obvious bullish candlestick printing at key support line, it’s obvious that there is a shift of trend and my suggestion is to keep buying on dips.
Charlie Lee statement about buying BTC and not LTC is dominating headline fueling what has come to be known as Cryptocurrency Tribalism. It’s even worse for Litecoin because Stellar Lumens is now the sixth most valuable coin standing a chance to make a cut at CoinBase. As a matter of fact it is up 60 percent in the last week alone and earlier buyers who got in at 22 cents are cashing out after prices hit their targets at 30 cents.
Taxation is a complex subject and since it is mandatory for all citizens to file their annual tax returns, CoinSmart are coming up with solutions to eliminate stress related to returns filling. CoinSmart is a Canadian cryptocurrency that is focusing on the crypto curious. Their aim is to make sure that filling tax returns especially by crypto traders is but a breeze.
Their trade platform is easy and while they only have EOS and other liquid coins as BTC available for trade, their tax-time reporting tool coupled with their intuitive trade platform is a stand out. Focusing mainly on Canadian investors, CoinSmart looks to remove the complexities related to crypto trading and wants to make the experience as smooth as possible.
On to price action and EOS bulls stand out. On a weekly basis, EOS is up 22 percent and still perched at position five in the liquidity list. Despite this, bulls are yet to clear $9, our main trigger line warranting buys on dips. So, because of that, we shall take a neutral approach in line with our previous trade preview and wait till our trade conditions are met.
There will be at most 21 million bitcoins in existence. There isn't even enough BTC to go around for EVERY millionaire to own one. So before you buy any other coin (LTC included), try to own at least 1 BTC first.
Charlie advocates for Bitcoin saying investors should first own at least one Bitcoin before buying any other “Sh*t coin” including Litecoin. His sentiment seems to be in line with that of Peter Thiel, PayPal co-Founder and investor at Block One. Peter thinks Bitcoin would be an equivalent to digital gold thanks to its limited availability.
The daily chart is a Picasso and after days of shifting from neutral to bearish/bullish, LTC bulls broke above the 25 consolidation printing and closing above $90. As mentioned before, $90 is our bull target and that means buyers can begin ramping up on dips with stops at $80 and first targets at $110. $110 is our immediate resistance previous support and marks the retest level from which current price action is trading at.
At the back of some solid announcements from Stellar and Charlie Lee endorsement of BTC—and not his beloved LTC—Stellar Lumens (XLM) is now the sixth most valuable coin.
Stellar Lumens-Litecoin “Flap”
In fact it is more valuable than LTC. This is a Flip and interestingly, XLM might even replace EOS as occupy the fifth spot if we continue to see double digit expansion we have been witnessing in the past few days.
From previous trade plans, our first bull target at 30 cents was hit yesterday and this mean those who got in earlier can lock in some profits and even move targets to 50 cents. In the meantime, those seeking to enter can do so at pull backs in lower time frames-preferably in the 4HR chart-with stops at 25 cents-July 18 lows and targets at 50 cents.
Despite double digit gains, TRX is yet to dislodge USDT and join the top 10 club. However, if it keeps up then we might see it back to the top 10 by the end of the week. Like LTC and Stellar, TRX is up and trading above 4 cents after gaining eight percent in the last day.
By closing above 4 cents, the conditions of our long triggers in line with our previous trade plan is now true. As such, TRX buyers can now begin buying on dips with stops at 3.5 cents. Our first bull target would be anywhere between 5 cents and June 2018 highs at 5.5 cents.
Of all the coins under our radar, IOTA is pretty slow and is yet to break above $1.3 or July highs at around $1.2.
However, because the overall market is pretty pumped up and bullish, my suggestion is to flow with the overall hawkish vibe and take advantage of this IOT undervaluation. In that case therefore, my trading will be to buy at current price with stops at $1.08 and target $2.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
Peter Gabriel, the former frontman of progressive rock band Genesis, is entering the cryptocurrency world by backing a British blockchain startup named Provenance. The rock star is the most recent celebrity putting its name behind digital currency-related startups.
Genesis Frontman Peter Gabriel Invests in Supply Chain Blockchain Startup
U.K.-based social enterprise project Provenance is building a traceability system for materials and products using distributed ledger technology in order to make supply chains more transparent. The startup leverages the Ethereum blockchain to track where food sold at retail is from.
In 2017, Provenance was able to raise about $800,000 in a seed round from investors including Humanity United, Merian Ventures’ Alexsis de Raadt-St. James, startup accelerator Plug and Play Tech Center, investment firm Digital Currency Group, among other backers. The startup aimed to use the funds raised to plan the launch of its product. Supply chain solutions have been their focus since being founded in 2013.
The new funding round was backed by Working Capital partner Chemain Saan, who will join the board of the startup. The above-mentioned investors were also backers besides Peter Gabriel, who explained the importance of more transparent supply chains.
“We need to be able to trust the source and distribution chain, particularly when it comes to guaranteeing that things are produced ethically and in an ecologically sound way.”
While the amount of funding into Provenance remains undisclosed, Peter Gabriel is now part of a growing list of celebrity cryptocurrency and blockchain enthusiasts, although his investment approach did not include an initial coin offering (ICO).
Celebrity-endorsed ICOs include Paris Hilton’s promotion of AI blockchain platform called LydianCoin in 2017. World heavyweight champion Floyd Mayweather and Uruguayan footballing legend Luis Suarez endorsed the STOX initial coin offering last year, which raised over $30 million.
Celebrities have become more cautious on their ICO endorsements ever since Mayweather and DJ Khaled came under fire for having promoted an ICO that turned out to be a scam. A startup called Centra Tech raised $32 million from thousands of investors based on false claims regarding its products, such as e-wallets and major credit card backed prepaid debit cards which the U.S. Securities and Exchange Commission (SEC) found to be untrue. Neither Mastercard nor Visa supported their prepaid cards.
The SEC later said that both celebrities involved in the STOX initial coin offering had to disclose any compensation they received to promote the fundraiser. The financial watchdog did not comment on whether it will prosecute them for having aided and abetted the alleged scam.
The co-founder and manager of the money management firm Citadel has voiced his grievances with Bitcoin. Ken Griffin stated today that none of his portfolio managers are interested in exposure to digital assets.
Ken Griffin: “I Still Scratch My Head About Bitcoin”
It’s very rare here at NewsBTC that we get to report on a prominent figure from traditional finance proclaiming their love of Bitcoin. Today is no exception.
Ken Griffin of Citadel spoke at the eighth annual Delivering Alpha Conference held in New York earlier today. CNBC reported:
“I don’t have a single portfolio manager [of mine] who has told me we should buy crypto, not a single portfolio manager.”
Griffin went on to state that there was simply no need for Bitcoin because you can’t pay your taxes with it. Evidently, the billionaire hedge fund manager doesn’t fully understand the permissionless, unconfiscatable nature of blockchain-based digital assets. In his words:
“What people don’t understand with cryptocurrencies versus the U.S. dollar – you have to have the U.S. dollar to pay your taxes at the end of the year. You don’t have a choice. There’s no need for cryptocurrencies. They’re a solution in search of [a] problem from my perspective.”
As a professional money manager, it’s hardly surprising that Griffin entirely misses the problem that cryptocurrencies solved. He sounds like he doesn’t understand the necessity of having an asset that is out of the control of national governments and unaffected by the risk-taking whims of individuals much like himself. After all, Bitcoin was a direct response to the global recession of 2008 that was created by reckless speculation.
When the likes of Griffin, Jamie Dimon, and Warren Buffet attack Bitcoin publicly, you have to wonder what their motive is. Are they really blind to why the planet has collectively decided to store over $127 billion in an asset class that is out of the control of such banking elites?
Or, are they trying to cling on to their privileged current positions by discouraging people from getting involved in cryptocurrency? A final interpretation could be that such public statements allow themselves and their clients to quietly accumulate crypto assets before going public about their holdings in expectation of a price spike.
At the Delivering Alpha Conference, Griffin went on to state that he wasn’t keen on offering clients exposure to crypto, even if they requested it:
“I have a hard time finding myself wanting to be in a position of being a liquidity provider for a product I don’t believe in.”
Griffin’s words are similar to those of the BlackRock CEO earlier this week. Larry Fink claimed just yesterday:
“No. I don’t think that any client has sought out crypto exposure… I’ve not heard from one client who says, ‘I need to be in this.'”
Melissa Lee, a host of Fast Money introduced Lee, stating that he has two charts that could signal a “Bitcoin moon boom.”
Firstly, the Fundstrat analyst brought attention to Bitcoin’s 200-day moving average (200 MA), which currently sits around $10,500. At the time of presenting, Lee stated that Bitcoin is presently sitting at approximately 30% under the 200 MA.
While a move under a moving average, like the 50, 100 or 200-day, has historically been seen as a negative sign, Lee called Bitcoin’s current relation to the 200 MA a “pretty positive signal.”
Assuming that some viewers of the segment would be questionable, Lee went on to point out why this is actually a positive sign. The analyst stated:
“The reason it’s a positive signal is that this has happened a few times since 2009… Number one, Bitcoin bottomed within a month here (after hitting 30% under the 200 MA). But I think it tells us something even more important not in the next month. It’s tell us that if you look forward in the next six months you’re going to do well owning Bitcoin here.”
Lee later added:
“So to us, the message is when Bitcoin is trading 30% below its 200-day, its a huge bull signal… If you could ever buy Bitcoin 30% below its 200-day moving average, you almost always saw good risk (and) reward being long.”
Tom Lee: A Combination of Fundamentals and Technicals Indicate Bullish Stance
Not only does Lee believe that the aforementioned signal is bullish, but so are other technical and fundamental signals. As with any market, there often isn’t a single catalyst to attribute to a price gain or decline.
Speaking on technical signs, the Fundstrat analyst stated:
“Over the weekend, there were quite a lot of folks who were talking about TA and the potential formation of either an inverse head and shoulders or a Wyckoff buy off. So it sounds like the technicals were really starting to become more favorable.”
When queried about his opinions on the recent Mastercard news, that will see the payments firm obtain a patent intended to connect the fiat and crypto world, Lee noted:
“I think something like the Mastercard news is positive because it’s really validating the idea that digital money or blockchain-based money is a valid form of transactions.”
Lee has long been held as the face and representative of Bitcoin bulls, as he has continually called for Bitcoin to hit $25,000 come January 2019. And with these most recent statements, it has become clear that his stance on the cryptocurrency market remains bullish, despite the trials and tribulations that were seen as Bitcoin fell by over 60% since January 2018.
Crypto investment fund Grayscale has revealed it received record-breaking inflows of money during the first six months of 2018 even though the price of Bitcoin crashed from $20,000 to $7,000.
Crypto Fund Receives Strong Backing
Grayscale Investments released their first Digital Asset Investment report, which showed a large influx of money into their crypto investment funds. From January to June, they amassed $248.4 million in new assets, which will add to their $2 billion portfolio. This is the highest amount of money they have received in any six-month period.
“As the investment community knows, over the last six months, the digital asset market experienced one of the largest price drawdowns since the inception of Bitcoin in 2009,” said Grayscale in the report. “However, what is more interesting, and somewhat counterintuitive, is that the pace of investment into Grayscale products has accelerated to a level that we have not seen before.”
During this time, they added new funds including support for Bitcoin Cash, Ether, Litecoin, and Ripple in March. They now have eight investment funds available including a Digital Large Cap Fund.
Grayscale Investments is a subsidiary of Barry Silbert’s Digital Currency Group, founded in 2013. The Group manages Genesis Trading which is a full-service, institutional trading firm aimed at digital currencies. It also manages a crypto news site, which provides market updates.
“Bitcoin has the potential to radically transform our concepts of money, store of value, and the means by which assets are exchanged the world over,” said Barry Silbert, founder of Grayscale.
In June, Grayscale launched their Zencash Investment Trust focused on the Zencash (ZEN). Similar to Zcash, which Grayscale already offers, it is available to accredited investors for the first year and then will be available to the general public.
Strong Demand from Institutional Investors
More than half of the investment came from institutional investors, according to the report. This shows a clear sign of the interest in the market and sharply contrasts Blackrock CEO Larry Fink who said that he hadn’t heard of one client who was interested in cryptocurrencies.
Fink said: “No. I don’t think that any client has sought out crypto exposure… I’ve not heard from one client who says, ‘I need to be in this.'”
Other signs of a move towards institutional investors include the largest ETF trader in Europe moving into crypto alongside a new proposal for a Bitcoin ETF in the U.S., which has attracted a large number of comments by those in the crypto community. The U.S. Securities and Exchange Commission (SEC) has also clarified its position on securities and said that Ethereum and Bitcoin are not securities, even though Ethereum was funded by an ICO.
On the back of this, Coinbase has continued to move into the smart money market with its custody offering although it had to backtrack after previously claiming that the SEC had approved it to list security tokens.
An executive at the Avenue Capital Group has today stated that he thinks Bitcoin will eventually outperform its 2017 highs. Mark Lasry claimed that the asset is moving into the mainstream further and the launching of extra trading platforms will help drive the price to previously unseen levels.
Hedge Fund Manager Holds 1% of Personal Net Worth in Bitcoin
Mark Lasry spoke to CNBC’s “Squawk Box” earlier today. On the segment, the Moroccan-born hedge fund manager told presenters that he felt the price of Bitcoin would eventually reach between $20,000 and $40,000.
When pressed for a reason why it would reach these new highs, Lasry cited that it was moving closer to the mainstream and the launching of alternate trading venues would allow more people exposure to the asset. He stated:
“As it gets more into the mainstream and as more markets end up allowing it to trade… to me that’s more of the bet.”
Mark Lasry currently works as the CEO at the Avenue Capital Group. The distressed debt investment firm boasts an impressive $9.6 billion in assets under management. He also co-owns the NBA team the Milwaukee Bucks.
Lasry makes no secret of his interest or investment in Bitcoin. He also told CNBC that he holds around 1% of his personal net worth in the digital asset. He went on to tell presenters that he was able to make some of his investment a few years ago, but added much of his position in the last twelve months. To this, Lasry added:
“Probably the average price would be somewhere around $5,000 to 7,500.”
Lasry was then asked what he felt the intrinsic value of Bitcoin was. He answered simply, “I have no idea.” Finally, the Milwaukee Bucks owner was pressed on his feelings towards government-issued digital currencies. He stated that he also didn’t know if a U.S.-issued digital coin that would replace the dollar would validate Bitcoin or make it redundant. He concluded by defending his interest in the most successful digital currency to date:
“The reason I like Bitcoin is because it’s the one everybody is going to come to.”
Lasry isn’t the only one who’s long-term bullish on Bitcoin. Despite the slump in that markets throughout 2018 so far, there are still many voices calling for much higher prices. One such advocate of the technology is Fundstrat’s Tom Lee. Earlier this month, he stated that he feels his earlier price prediction for 2018 of $25,000 would still come true.
However, Lee’s estimate is dwarfed by that of Julian Hosp. The TenX CEO has stated that he believes a $60,000 is possible in 2018. For this to happen, Hosp does admit that the price would need to be above $10,000 before mid-August. This seemed highly unlikely until the very recent upturn in the market which saw Bitcoin increase its price by 10% in just a matter of hours.
An investment analyst has predicted the ‘death of Bitcoin’ articles will show the key moment to invest in Bitcoin. Following the ‘bubble popping’ over the last year, the analyst claims that this will be the buy signal for him and others to invest.
No Such Thing as Bad Press
Bitcoin has ‘died’ countless times according to the media. 99Bitcoins puts the figure at 306 deaths with quotes from each publication that has called it over for the digital currency. These articles often occur after temporary market crashes, including the Mount Gox hack where Bitcoin ‘died’ at $658 according to articles such as ‘Bitcoin is Dead’ by the Weekly Standard.
In the article, Jonathan Last said: “The speculators may not realize it yet, but you can stick a fork in bitcoin. It’s done.”
Now, CEO of stocks and investment website ADVFN, Clem Chambers, has claimed that these death reports are excellent buy signals for investors. He said that investors can ‘make a killing’ if they buy at the bottom, in a similar way to those who invested following the dotcom bubble. Chambers said:
“I want to see headlines saying “Bitcoin is dead” after a final leg down. This will signal a bottom as it has on many previous occasions. “The Death of Bitcoin” as a MSM headline will be the point I will be serious about loading up.”
‘Bitcoin is dead’ searches on Google hit an all-time high this year between February 4 and February 10 when the price of Bitcoin dropped to $6,048. That’s almost ten times higher than when Bitcoin died in 2014. Bitcoin has fallen to around this price an additional two times this year but searches have remained low.
Price of Bitcoin over the last year
Google search volume for ‘Bitcoin is dead’ over the past year
Chambers expects one more drop this year which will lead to the definitive death of Bitcoin for 2018. From looking at the charts, he sees ‘another final leg to fall’ but admits that’s just his opinion. After 2014, it took two years for the price to stabilise and start reaching higher. However, recent news on Bitcoin ETFs may help to accelerate the progress this time around.
Bitcoin ‘Purge’ to Help Growth?
An ICO advisory firm has released a study showing over 80% of ICO projects were scams. This definition included projects that didn’t follow their roadmap or were deemed to be scams by community members. Three per cent ‘died’, meaning they were not listed on exchanges and had no contributions in Github for quite some time.
The data showed that investors have a good eye as the 80% of ICOs only received 11% of total funding. Yet it has been argued that removing some of the ‘unsuccessful’ coins could help to revitalise the market which has lost over $500 billion of its market cap this year. As cryptocurrencies are decentralized, this purging of coins would have to be voluntary but it could help to stimulate growth.
After a prolonged crypto winter, the dog days of the altcoin summer are finally here — which means you might want to watch these five cryptocurrencies carefully.
NAGA COIN (NGC)
First on the list of cryptos to look out for this summer is NAGA COIN (NGC).
NAGA COIN is the token which powers the expansive and all-encompassing NAGA ecosystem — which itself includes the likes of NAGA TRADER, NAGA WALLET, and NAGA VIRTUAL. By that, we mean it is the decentralized utility token used for both trading and investing in financial markets, virtual goods, and other cryptocurrencies.
NGC’s strength lies in its utility. Everything that happens in NAGA’s ecosystem revolves around NGC — as the token may be used to pay fees, act as collateral, and serve as the primary currency for all transactions. Recently, NAGA introduced its ICO-Hub, a NAGA WALLET feature that lets users participate in the hottest and most exciting coin offerings with just a few simple clicks, using NGC as the direct payment method. This makes NGC the main driver of the platform’s sustainable economy in which demand is ever-increasing as more users, game publishers, and big-money financial institutions discover the many benefits the NAGA Ecosystem has to offer.
For traders, NAGA COIN — like many altcoins — is down substantially from its all-time highs. With such real utility and a diverse ecosystem backing the coin, however, this is certainly one token worth seriously considering before the next altcoin cycle.
On the subject of being down substantially from all-time highs, Litecoin — often called Bitcoin’s little brother — is currently trading at what many may consider to be a substantial discount.
TMT Blockchain Fund’s Gabriel Francisco, for example, believes Litecoin will become one of the first cryptocurrencies to actually gain mainstream adoption for shoppers — while also claiming the risk-reward ratio is very high. He noted:
Poised on the brink of greatness, Litecoin is preparing for a breathtaking moon shot. Dubbed ‘the rock’ at times, this clone of Bitcoin has shown incredible market resilience and price inertia. Pegged at 84 million coins, Litecoin is four times faster than Bitcoin and has four times the supply. In other words, Bitcoin is to gold what Litecoin is to silver.
Meanwhile, Litecoin Foundation partner TokenPay Swiss AG announced its partnership with Germany’s WEG Bank, which sees the decentralized and self-verifying payment platform acquire 9.9 percent of the bank. The other 90 percent of the bank will reportedly be purchased pending mandatory regulatory approval.
Regardless of how Litecoin’s future plans pan out, one thing is all but certain — the Bitcoin clone will follow in its big brother’s footsteps, wherever it goes.
EOS may claim to be ‘The Ethereum Killer,’ but it has had quite a volatile 2018 — skyrocketing up to new all-time highs before the launch of its mainnet and subsequently collapsing back down to perhaps unreasonable lows.
The old saying claims that you should buy when others are fearful. Well, many are afraid of EOS right now. The platform’s launch was troublesome, to say the least, with concerns over centralization causing CTO Dan Larimer to suggest scrapping the project’s constitution and starting from scratch.
Worrisome launch aside, rival smart contract platforms will certainly challenge Ethereum in the future — and EOS is well positioned to be the one leading that charge.
NEO is often referred to as ‘The Ethereum of China,’ but it’s actually much more than that. As noted by eToro analysis, NEO has strong partnerships and support from the Asian cryptocurrency community — and is one of the most promising currencies in the crypto-assets space, with the ambitious goal of becoming the main “smart economy” of the world in the next few years.
Cardano is a fundamentally sound distributed computing platform that runs the blockchain for the ADA cryptocurrency.
The brainchild of Charles Hoskinson has recently garnered listings on Bithumb and Huobi and has lofty plans to revolutionize the world through its blockchain and digital currency. It stands to reason that Cardano ATMs will start popping up around the world once cryptocurrency garners further adoption.
Unlike other altcoins, the fundamental research underlying the project and attention to detail at the expense of manufactured hype and announcements puts Cardano in a position to succeed — while others offer little more than empty promises.
From a trading perspective, Cardano is also far off its all-time high — and with such strong fundamentals, one might consider this altcoin as a relatively low-risk, high-reward addition to his or her investment portfolio.
Crypto land is cooking this morning; top altcoins are Stellar, Cardano, EOS, Zcash, 0x, Icon and Ardor.
Finally it is party time in crypto land, a big bull run has starting and markets are awash with green this morning. Over $20 billion has entered the markets in the past 24 hours pushing total capitalization over $290 billion for the first time in a month.
Bitcoin led the charge with an epic pump of $600 in less than an hour yesterday. That huge green candle combined with a surge in volume by $2 billion has kept BTC above $7,000. It is currently trading at $7,380, up 9.5% on the day and its highest level since June 10. Ethereum also benefited from the rally climbing 5% on the day to $500, its highest level for almost a month.
The altcoins are also racing, many posting double figure gains today. In the top ten Stellar Lumens is surging ahead with a 22.4% climb on the day to $0.285. Over the week XLM has made an impressive 50% from $0.188 this time last Wednesday. Cardano is the second biggest gainer in the top ten with 15.3% on the day to trade at $0.175. The weekly picture sees gains of 35% for ADA from $0.129 this time last week. EOS rounds out the top ten’s double digit altcoins with 11% to $8.82.
Further down the list is Nem with an 11% rise to $0.193 and Zcash charging 14% to $212. 0x has made 12% to trade at $1.25 and Icon is also steaming ahead with a 12.8% jump to $1.66. Four of these top performers in the top twenty coins are those that Coinbase hinted at listing in the future.
Other altcoins with double digit gains at the time of writing include Zilliqa up 11.6%, Bitshares climbing 12.5%, and Steem and Dogecoin jumping 15%. The top performing altcoin of the moment is Ardor which has rocketed 60% to $0.261 on the back of a Binance listing.
Over the past 24 hours total market capitalization has jumped just over 8%. This equates to an increase of around $23 billion on the figure which currently stands at just under $294 billion. Trade volume for all cryptos has increased 33% from $15 to $20 billion per day. This is the highest volume seen for almost six weeks has markets climb back to June 10 levels. A break over $300 billion could continue to the next previous plateau at $340 billion and a Bitcoin price of around $8,000.
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.