A week in the markets, a roundup of the last 7 days for cryptocurrencies, less than a five-minute investment to get to grips with the major movements for cryptocoins.
A lively week in the World Cup and a lively week on the crypto market! Take a look at the overall market capitalisation and you will see the defining trend that has shaped most of the market. Thursday to Friday dropping, then Friday evening, boom, the market jumps $20 billion in about 4-5 hours.
For no clear reason, a strange bullshit rumour that Facebook (NASDAQ:FB) was about to acquire Coinbase was about. Facebook has softened their stance on crypto ads but these do not appear to be the levers. Is it whales manipulating the market, is it a dead cat bounce? Are we going to stay at the bottom of this long dip, or will there be a bull run coming? There was similar behaviour in April, but that was a short mini-bull run. I would love to be an optimist, but I think it is just a blip, a short correction and we are going to sit at this dip for a while, at this corrected level.
The top players have stayed about the same on the seven-day average but in the top 100 altcoins there have been some extreme movements. I will cover those after the main players.
Ok from the top, Bitcoin leading the pack as you can see, dropping down and then the extreme hike at the end of the week, $500 in five hours, that’s over 8%. Tell me that’s a natural movement and I will tell you that Russia are going to win the World Cup. Get real!
Ethereum, XRP, Bitcoin Cash, all with similar stories to tell, bobbling around the week’s average at 1-5% losses but surging after the Bitcoin hike.
EOS, dipping a little further down but climbing back up to finish the week just ahead, they will be hoping that they have found their bottom, hoping to hold steady and keep away from the $5 mark.
Cardano, IOTA doing themselves proud and experiencing a better than market average surge at the end of the week to take them up, 7 and 8% respectively.
Tron getting caned on the first half of week, still in the news after Independence Day, elections and now being taken as payment provider for Pornhub. Didn’t manage to give the price much more than a minor erection after the decline, a disappointing 11% loss on the week.
Zilliqa who have been slipping consistently in the last couple of weeks, brought some news out on their testnet capabilities and wallets and the response was positive giving them a good weekly gain of 16%.
Over to the movers and the losers in the top 100 altcoins.
On the winning fronts, we see big movements,
The winner is Populous, an invoice and trade finance platform who announced some news about an Indian partnership for factoring and they have almost a 55% leap.
A close second place goes to the Australian energy guys at Power Ledger who have surged forward by over 50% with news of a partnership with Silicon Valley Power.
Third position goes to Monaco with an impressive 44% rise. The crypto debit card provider from Zug is now listed on Binance, which, coupled with the general rise, has given them good gains.
And just behind them is Status, with a 34% 7-day gain. Maybe it was the listing on Bithumb that helped drive that.
And the big question, who got battered this week?
The Chinese Ethereum killer Mother of all Chains, MOAC, seemed to go on a starvation diet managing to shed a third of its value in one week.
And Cryptonex, a very speculative coin, losing 21% in the week.
If you want somebody else to scour through who’s moving and who’s losing in the crypto game every week, and you want to maximize your time, subscribe to our video channel.
Stay current, stay valid, stay tuned, stay pumped and catch the wave, till next time!
This article appeared first on Cryptovest
