Another pullback has occurred as markets failed to hold the $300 billion level. Most cryptocurrencies are in the red today as previous day’s gains are wiped out. Bitcoin has dropped half a percent on the day and is trading at $8,170. Over the week it has gained almost 10% since last Sunday and the short term trend is bullish.
Ethereum has retreated just over 1% trading at around $465, over the week ETH has made no gains and is trading at the same level. Altcoins are mostly in decline with one or two showing a glimmer of green during trading this Sunday.
Stellar is taking the biggest hit in the top ten at the moment after days of gains. XLM is down 2.2% to trade at $0.312, over the week though it has gained 4.7% since last Sunday. All other altcoins in the top ten are pretty flat with minor declines.
The same picture can be seen in the top twenty with most altcoins trading very slightly down on the day. VeChain is bucking the trend though with a 3.7% climb to $2.60. Over the week VEN has performed well with a 44% gain from $1.80. Tron is the only other coin in the top twenty with a gain at the moment, albeit a very small one of 2% to $0.037.
Further down the list Bitcoin Gold is having a good day with an 8.3% gain to trade at $33.70. It spiked a few hours ago with a 12% pump from a media partnership announcement between BTG and the Blockchain Applications and Economics Indonesia Forum.
Over the week BTG has gained almost 18% from $28.50 and the past month has seen larger gains of 43%. South Koreans are currently buying up Bitcoin Gold on Bithumb in KRW which has over half of the volume at the moment.
The other altcoins performing well at the moment are ChainLink up 23%, TenX up 12.5%, and Kin up 12% on the day. Taking the biggest hit is Pivx which has dumped 11% following its pump yesterday.
Total crypto market capitalization has fallen around a percent to just over $296 billion. After a good run up in the week trade volume has halved today to $12.5 billion and things are cooling down again. On the week crypto markets are up 4.4% and the short term outlook is still bullish.
