Crypto Market Update

Crypto Market Update: NEM On The Rise

After a slow weekend, crypto markets have again treated a bit this Monday, but are still mostly inactive. The overall market capitalization has declined a fraction but is still holding the level of around $210 billion.

Bitcoin is still stuck at $6,500 with no movement for a while. It has been stuck in this consolidating range, and the way of least resistance still appears to be on the downside. On the other hand, Ethereum too is flat with no movement since yesterday leaving it exchanging at $205.

The Altcoins are mostly red amid Asian trading today. However, the losses are just a few. Litecoin and Stellar are the two coins in the top ten list with the loss of over 1%. The rest have barely moved over the past 24 hours.

There’s not so much to write about the top 20 either aside from NEM which shows gaining of over 6% at the time. This has taken the XEM back to $0.10 as exchange volume jumps to $10 million. The NEM Foundation has been busy in launching the latest blockchain hubs in Vietnam and Melbourne as it increases in the region.

Also, Tezos has made 2% on the day, but most of the other altcoins have sustained small losses and are in the red. VeChain is the one leading them with a dip of 2% on the day. On the other hand, the Iota is not far behind.

Today’s big FOMO pump is Ravencoin that is rising over 60% at the time as it gains the top one hundred following the binance listing. Nexo, BAT and Veritaseum are also doing great today with gains of over 15%. CyberMiles is at the messy end continuing to fall back shedding the other 8% on the day. DigixDAO and Elastos are both losing 6% at the time.

Overall crypto market capitalization is set at $210 billion, which is the same level as yesterday. Since last Monday’s $15 billion spikes, markets haven’t done anything.