The market recovery that started yesterday is gaining momentum with most Top 100 assets on the green. This growth constitutes a combination of technical and trading speculation with a few positive fundamental news affecting the uptrend.
The market capitalization has jumped to $132.7 Billion, adding another $6 Billion to the digital coffers this Tuesday morning. The trading volume has risen to $35.9 Billion, from yesterdays $27 Billion, which many noted as a notable increase which might truly signal a trend reversal. The last time the trade volume was this high was last April in 2018. Meanwhile, the Bitcoin dominance is continuing to drop down at 51.7% and many are signaling the start of the altcoin recovery.
The Bitcoin price is continuing to fly and is currently at $3913 (CMC) at the time of this writing. It has gained 4.32% on the day after going as high as $3994. It remains to be seen if it can pass through the $4k resistance or defend the $3900 first as bulls take a breather. Despite its dominance going down, it’s market capitalization is beginning to grow and is now at $68.6 Billion.
Ethereum, which has been the star of the crypto market for the past 2 days as it jumped from previous weeks $120, is now at $146.69, adding another 5.61% gain on the day. The coin has crossed as high as $150 before retreating to its current price. It has extended its lead over XRP by almost $2 Billion. Although XRP achieved decent gains at its current price at $0.33, it is not moving as fast as the other assets on the Top 10.
The rest of the Top 10 are moving nicely with EOS taking the lead for the day. It has shot up to its current price at $3.52, representing a growth of 18.04% on the day. It shot up as high as 30% before retreating to its current level. Bitcoin Cash is another asset on a run at 10.83% taking its price to $144.95. Just outside of 10%, Stellar is also performing well at 8.21% gain on the day.
For the Top 25, most are doing good at 2-5% gains. Except for USD Coin, NEM and Dogecoin are the only ones falling behind under 2%. Ethereum Classic is the top with a 9.35% gain, followed by Cardano and Dash at 7.48% and 6.88% respectively.
Down the Top 100, we have our usual pumps and dumps. The higher you go up, the higher you fall, which is the case for WAX as it dumped -19.62% today after a pump yesterday. Mixin is the leading performer today at 15.99%, followed by IOST at 10.89%. The rest are mostly green and is gearing for more gains as the week progresses.