It was a record day for the crypto markets today as Bitcoin continued moving higher and the market capitalization reached new record highs not seen since November of 2018. The crypto streets are awash with green even as altcoins were not able to catch up quickly with Bitcoin.
The market capitalization now stands at $186.4 Billion, adding more than $10 Billion since yesterday with more than 6% gains on the day. The trading volume also rose up to $57.2 Billion while the Bitcoin dominance is eating out the altcoins at 55.2% currently, the highest for 2019.
Bitcoin bulls are once again in control and analysts on Twittersphere are rejoicing about the possibility that Bitcoin might have, indeed, found a bottom. After recovering from its drop last week, Bitcoin ground up higher from $5200 to $5400. Then it stepped up during the past 24 hours and went ballistic at $5500 up. At the time of this writing, Bitcoin has recorded a new high at $5821 (on CMC), posting a gain of 6.72%. More upside movements are expected but not without a small pullback since its already on the overbought section. Bitcoin has once again entered the $100 Billion dollar capitalization and is currently at $102.9 Billion.
Ethereum, after having had a weak week previously, became one of the better-earning assets today as it reached $168.70, adding 4.56% to its price since yesterday’s market recap. As Bitcoin bulls gathered force, so did the 2nd most favored asset as it reached as high as $172 before pulling back to the current price. Like the Bitcoin, there is an expectation of more upside movement in order to smash the $170 resistance. Meanwhile, XRP successfully crossed $0.30 and is currently trading at $0.310. It gained a middling 1.96% today and one of the coins that were left behind on the Top 10 assets.
The rest of the Top 10 reacted positively to the Bitcoin party and is mostly green at the time of this writing. Litecoin took the helm with a gain of 7.37% and taking its price a few points shy of $80. EOS follows with a 6.80% gain (trading at $5.08), while Bitcoin Cash has surged to 5.87% to trade at $293.28. Apart from XRP, Stellar is also a slow mover today with a 1.17% gain on the day.
The Top 25 assets performance is varied at the moment. Basic Attention Token and IOTA are under 1% on the reds. The rest are at 2-5% gains. The better performers are Cosmos, Tezos, and Crypto.com Chain. Cosmos continues its massive pump c/o Binance and has earned another 9.54% gain on the day to take its price to $4.93 -an almost 40% gain since its launch on Binance. Tezos and Crypto.com Chain are both earning more than 7% on the day.
Down the Top 100, most are green although not as fast-moving as one would come to expect. Only ABBC Coin is earning double-digits at 25.16%. Most are moving under 10%. Meanwhile, BitTorrent seems to be the biggest loser today at a marginal -3.40% loss after a relatively good performance yesterday.