Cryptocurrency Market Update: Bitcoin Diamond (BCD) Pump Defies the Dump



FOMO Moments

Markets are in a bad shape on Monday; but Bitcoin Diamond and Waves recovering.

Crypto markets are still in the doldrums as we start the week. A very small bounce yesterday prevented them reaching a new yearly low but levels are not far off it. Still under $200 billion, markets are at their lowest point since the end of October last year.

Bitcoin made a small upward movement yesterday but has stayed flat since then trading at $6,320. Further losses look likely for BTC which is not showing any bullish indicators at the moment. Ethereum is going from bad to worse as it plummets even further, remaining under $200. ETH at the moment is trading at $195 and any further dips could spell very bad news for the world’s second largest crypto.

Altcoins are quite mixed at the moment with some still falling but others recovering a little from last week’s rout. In the top ten XRP, Stellar and Cardano are still dropping 2-3 percent on the day while EOS has gained 2.6% to pull itself back to $5.

More movement can be seen further down the charts with Dash and Dogecoin streaking back up with 7% clawed back on the day. Iota and VeChain are also gaining, but only by 3% at the time of writing. The rest are plus or minus a percentage from yesterday’s prices.

Bitcoin Diamond is having the biggest pump of the day with a 22% gain to trade at $2.06. BCD spurted two hours ago when volume over doubled to around $19 million. The largest OTC exchange in Asia, OTCBTC, now supports Bitcoin Diamond;

A Korean news article about BCD Bazaar, the new partnership driven e-commerce platform, could also be driving momentum. Binance currently has over 50% of the trade volume in BCD.

Waves is also performing well at the moment with a similar 22% spike, as is Bitcoin Dark which is up 20%. At the painful end of the top one hundred is Rchain and GAS dumping 7% each.

Total crypto market capitalization has slid a further 1.5% on the day and is currently at $195 billion. Ethereum is leading the losses as most ERC20 tokens are also in a bad way. The only good news out of crypto land at the moment is Bitcoin’s dominance which has climbed to another yearly high of 55.8%.

More on Bitcoin Diamond can be found here: http://btcd.io/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

The post Cryptocurrency Market Update: Bitcoin Diamond (BCD) Pump Defies the Dump appeared first on NewsBTC.



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