Cryptocurrency Trade Volume Reaches 11 Week High


FOMO MomentsMarkets are recovering from a two day correction; Stellar, Binance Coin, 0x, and Pivx performing well.

As we enter the weekend markets have rebounded slightly and are heading back towards $300 billion. Following a correction that saw $15 billion leave the markets things are slowly heading back upwards and most cryptos are in the green this morning. Daily trade volume has passed $26 billion, its highest level for 11 weeks.

Bitcoin has regained 3.3% on the day and is trading at just over $8,200. The correction appears to have been short lived and further gains could be possible. Ethereum has also recovered slightly with a small gain of 1.4% to trade at $470.

All altcoins are in the green at the moment and Stellar is the best performer in the top ten with a 5% gain to $0.321. Since last Saturday XLM has climbed 16.7% from $0.275, boosted by a new partnerships and positive sentiment. Aside from Bitcoin all other altcoins are up between 1 and 3 percent at the moment.

Looking at the top twenty shows a similar picture with small gains for each crypto aside from Binance Coin which has jumped 7.5% on the day. BNB is currently trading at $14.63 which is a gain of over 20% since last weekend when it was trading at around $12.

Out of the top thirty altcoins Bitcoin Gold and 0x are performing solidly with gains over 8% on the day. Zilliqa is also having a good day with a 7% rise to $0.078. Only two altcoins in the top hundred are showing a double figure gain today and those are Pivx up 25% and Komodo climbing 11%. Pivx momentum comes a few days after the project announced that one of its core developers had achieved the first ever Zerocoin mint on a mobile wallet. A few coins are in the red today and those faring the worst include ChainLink and Dentacoin.

Total crypto market capitalization has climbed just under 3% since yesterday to $298 billion. The big bounce came on Friday when $11 billion entered the markets in just under two hours. Since last Saturday there has been an 8% climb in total market cap as the recovery gains momentum. Trade volume is showing very positive signs rising from $14.5 billion to over $26 billion on the day. Volume levels are currently at their highest since mid-May, aside from an anomalous spike on the 24th, so further gains over the weekend could be on the cards.

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.


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