Cryptocurrency Market Update: Binance Coin (BNB) Surging
Markets recouping daily losses, Binance Coin and Nem are in the green, EOS is getting hammered.
The downward motion on crypto markets has continued today as digital currencies slid further back before making a recovery. Monday’s declines have carried on into Tuesday during the Asian trading session but total market capitalization has managed to recoup to similar levels below $130 billion a couple of hours ago.
Bitcoin bulls have failed to keep the digital currency above $4,000 causing it to drop into dangerous territory. A 5% dump saw BTC fall to an intraday low of $3,840 a couple of hours ago before it managed to bounce back. At the time of writing Bitcoin had pulled back to just above $4k again.
Ethereum has fallen back to $112 and does not look like making any discernible recovery anytime soon. Altcoins are all still red at the moment with some getting more punishment than others. In the top ten EOS is getting pounded with a 10% dive to $2.55 as more centralization woes plague the project. As has been the case for a few weeks now Bitcoin Cash is collapsing, it was the worst performing crypto in November and has lost another 6% today.
There is only one winner in the top twenty at the moment and that is Binance Coin climbing 9% on the day. BNB has reached $5.60 as it partners with Decentraland with a MANA competition and crypto Airbnb platform Tripio. Nem and Dogecoin are also gaining a little but the rest are falling, Ethereum Classic and Bitcoin Gold by the most at 6%.
Pump of the day goes to Factom again adding 27%, ODEM and Pundi X are also performing strongly at the moment with double figure gains. As predicted, yesterday’s fomo altcoins are dumping today, namely Centrality, Mithril and MobileGo, all dropping double digits along with EOS.
Total crypto market capitalization has managed to bounce back to yesterday’s levels after hitting a low of $124 billion a couple of hours ago. At the time of writing it is around $129 billion which is no gain over Monday. Since last Tuesday markets have gained 4% but since the same time last month they have been smashed 38%.
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.