Crypto Top 10s (August 31st, 2018): Bitcoin bounces off $7,000 twice; Alts go sideways; Good Doge-y!

Here’s a look at the performance of the Top 10 cryptocurrencies – by 24h trading volume – on the CryptoCompare chart, as well as winners and losers across the board.

Headlines

Modest gains for eight of the Top 10 traded cryptos

Bitcoin fails to best $7,000 twice in last 24hrs

Alts go sideways

ZCash (ZEC) stuck at same lows it saw in mid-2017

Good Doge redux!

 

Updated at 4.30pm (UK GMT+1) August  31st, 2018..

The Top 10, as of 2.50pm (GMT+1) August 31st, 2018 looked like this…

Overview

It was a generally positive day of price increases across the Top 10 most-traded cryptocurrencies, though gains could at best be described as modest. 

In the last 24hrs, only one coin has managed to gain more than 3%, of the two losses, one was 4% the other less than 1%

In terms of trading volume, it was a mixed day across the Top 10, with five showing increased volumes a the others less or virtually the same interest. Only one made an increase that was really notable.

According to CoinMarketCap, the total value of all cryptocurrencies now stands at just above $224bn – up a similarly modest $2bn from yesterday’s figure, reflecting the general sideways movement of the market as we head towards the weekend.

Bitcoin’s share of that value grew .4% to 53.4%, moving closer to the 54.5% high we’ve seen during 2018.

Today, the 10th placed coin registered a total volume of around $116m, up $18m from what would have been required to make the Top 10 yesterday. Dash, which occupied that position today and yesterday, thus enjoyed that significant volume boost previously mentioned.  

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While it again failed to break the $7,000 barrier in any kind of convincing way, the price of Bitcoin (BTC) did enjoy a 1% increase compared to its position at 3pm (GMT+1) yesterday. The notable price action in that time came around 9pm Thursday evening, when a flurry of buying pushed its value from just above $6,800 to around $6,920 in little more than an hour

Another upwards move just after midnight marked the first push above the $7,000 mark for 18 hours, but demand could not sustain above there for a single five minute period. A more concerted push around five hours later faired better, but ultimately sellers re-took control, and BTC has spent much of the rest of Friday trading its way back to that $6,920 level which it entered Friday bouncing off. 

It leaves Bitcoin in a notably healthier position than it was at the end of last week – but still unable to muster the kind of Bullish comeback many in the crypto-community have been hoping for and predicting for the last couple of weeks. The sudden rises and sudden falls have thus amounted to little more than blips in a bigger picture of cryptocurrency somewhat in limbo, and generally in a slow decline that has been happening throughout 2018.

While the mood is far from the doom and gloom that has marked points in the last month, the end of August does bring with it a continuation of the general sense of a market drifting as it waits on big decisions to be made on regulation and exactly what form of trading options will be available through the remainder of the year and into 2019. There is one big ETF decision pending for the end of September, and how that goes will largely, one suspects, shape attitudes for the rest of the year, all other factors being equal.

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It was similarly modest gains all-round for the majority of the Top 10, with little more than negligible moves for Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP) and Ethereum Classic (ETC).

Neo (NEO) and Dash (Dash) both picked up by 2%+, having fallen harder than most yesterday.

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Joining the Top 10

No coins joined the Top 10 today.

Leaving the Top 10

No coins left the Top 10 today.

Biggest Movers by %

ZCash  (ZEC) made the biggest move among the Top 10 coins – though that was a fall over over 4%. It was one of only two coins to lose ground today during a day of gains.

Losses over the last couple of days for ZCash seem to be a continuation for a pattern that has seen it oscillate around the $140 mark following a pretty heavy drop beginning at the end of June for the privacy crypto. Looking further back through ZCash’s price history shows that the area around where it sits now provided similar support at two points as far back as July and September 2017, though the $120 mark it visited briefly on August 14th is as low a value as it has seen since May 22nd of that year. That makes it a pretty dismal year all-round.

Outside Top 10:

Here are Top 10 gainers in terms of price over the last 24hrs…

Once again, those loveable Dogecoins (DOGE) are shining bright on the back of the memetastic community coin building a software bridge to link it more closely to Ethereum. Clever dogies.

And seeing as it’s Friday, here’s a meme for you too…

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Here are the Top 10 losers.

But really, when Doge is mooning, there are no losers, right?