The market is still consolidating this Saturday despite a slow day in the Asian trading session that culminated to a drop a few hours ago. The day has switched back into a positive trend as the market recovered from the $3 Billion drop quickly. As a result, the market is still ahead by 2% since last Saturday.
The market capitalization has now exceeded yesterday’s level and is now at $134.7 Billion. Curiously, the trading volume is still surging despite the weekends. It is now at $33 Billion while the BTC dominance is once again giving way to altcoins at 51.5%.
Bitcoin is still motionless and is struggling above $3900. It has reached as high at $3950 but dumped and went as low as $3851 before returning to its current level. This resistance is proving to be another hard barrier for Bitcoin and the momentum has failed to gain traction. Although it quickly recovered, this is a bit of an underwhelming development and more hesitation from Bitcoin could lead to another drop.
Ethereum is nearing $140 but is struggling at $138. It has made a minimal gain at 0.73% but remains ahead of XRP with $1.4 Billion more in market capitalization. The $140 seems to be the main obstacle followed by $142.
The rest of the Top 10 are mostly positive apart from Tron with a loss of -1.04%. The winners today are Litecoin and Binance Coin, -both at 4% gain on the day. They are followed by Bitcoin Cash and Stellar, both at nearly 3% gain. EOS is the slowest mover today with only 1.34% gain.
The Top 25 altcoins are mostly positive with minimal loss for the red performers. Maker, Bitcoin SV, and Ethereum Classic are all in under 2% loss. Waves leads the biggest gainer at 6.08%. Cardano follows with a 3.72% gain. IOTA, NEM, and Ontology have all gained over 2% today.
Down the Top 100, Project Pai has overtaken Kyber Network in terms of gains. It has gained 68.01% today, while Kyber Network is at 61.07% gain on the day. There are other assets on the run today including Bancor at 28.65% and Wanchain at 21.66%. Enjin coin is still on its fomo driven path 21.28% gain. Below 20% are aelf, ICON, Bytom, Aurora, GXChain, and Hypercash between 10-16%. On the other end, Nexo is dumping at -7.65%.
Overall, the crypto market is still on an uptrend. Despite the low volatility, it has recovered from its recent lows during its drop in December.