Cryptocurrency Market Update: All Quiet on Monday Morning in Asia

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FOMO Moments

Nothing to report during Monday’s Asian trading; Dentacoin and Polymath are the only ones moving.

Monday morning brings little to talk about on crypto markets. Nothing has moved since yesterday, or last week for that matter, and total market capitalization is at the same place, just below $210 billion.

Bitcoin has seen its longest period of inactivity for quite a while. Remaining sideways at the same place it has been all last week, BTC is still trading at $6,480. The possibility of it dropping further is more likely than a reversal. Ethereum is suffering the same fate at the moment with no movement there either; it is still stuck at $205.

There is more green than red in the altcoin charts at the moment but when figures are less than half a percent there isn’t a lot to write about.  Nothing has moved more than a percent in the top ten since yesterday. Cardano is the only coin in the red but losses are marginal.

In the top twenty Zcash is posting the biggest gain but it is only 2.5% on the day to reach $123. Dash is also up 1.7% to $156 but the rest have not really moved.

A couple of altcoins are making their fomo pumps today as usual and they are Dentacoin and Polymath both gaining between 12 and 13 percent since Sunday morning. Revain and MobileGo are also posting good gains of 10 and 8 percent respectively. Fortunately there no major dumps today in the top one hundred, but Eternal Token is the top of that list with a 3% decline.

Total crypto market capitalization is exactly where it was this time yesterday, $209 billion. The tedium continues as we enter the third week with no activity on the markets. Every small upswing is immediately countered with one in the opposite direction and the day looks like a series of mini pump and dumps. That volatility that so many use to criticize crypto certainly has not been showing itself in recent weeks.

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FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

Source: https://www.newsbtc.com/2018/10/29/cryptocurrency-market-update-all-quiet-on-monday-morning-in-asia/


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