The crypto market has trimmed down some of its earnings yesterday and is now consolidating. Most of the crypto-board has turned red though most are at a minimal loss.
The market cap is now at $120.5 Billion, down by a billion from yesterdays bull run. The trading volume has also gone down to $18.5 Billion, down from yesterdays $24.9 Billion. Bitcoin is slowly reclaiming dominance and is now at 53.1%.
Bitcoin is consolidating gains with a minimal loss of -0.61% on the day. Based on CMC data, it is currently trading at $3648. Its phenomenal run yesterday, skipping from as low as $3398 up to $3600 in under an hour spurred the rest of the crypto-board to action. It needs to defend the $3600 in order to think of a more definitive long term recovery.
Ethereum has retreated to $117 with a loss of -1.41% but looks to be consolidating for the next move upwards. Ethereum was one of the early coins which pushed Bitcoin up for a change, instead of the other way around with a steady performance the whole week. The coin remains bullish above $114 and should today and tomorrow prove felicitous, it stands to gain more next week. XRP, which has been weak for the past days is almost getting overturned by EThereum in market capitalization with just $200 K gab between them.
The rest of the Top 10 are now red, (albeit with marginal losses) except for Binance and Tether. The Binance Coin has resumed its climb and is now exchanging hands at $9.22 with a 4.87% gain on the day. Tron is the biggest loser today at -5.60% with bitcoin Cash following at -4.26% loss.
The Top 25 has not moved much. Majority are now also red with 0-2% loss. Ethereum Classic, NEM, and Bitcoin SV are the biggest losers at 3+% loss on the day. On the other end, Maker is still positive at 2.81% and VeChain was able to flip TrueUSD and reclaimed the #25th position on the market capitalization.
Down the Top 100, despite the drop, some coins still managed a pump as evidenced by the ongoing Ark pump at 42.65%. THETA is back to our pump list with 24.53% gain on the day. The bulls are still protecting the market with only a handful of big losses, the biggest being Linkey at a -6.34% loss.