Crypto Top 10s (August 15th, 2018): Top 10 comes back from brink, Bitcoin picks up 5%, QTUM wins big

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

– Total crypto market back up above $200bn, gains in Top 10

– Bitcoin (BTC) picks up modest 5%

– Ethereum claws back 8%, co-founder defends platform

– QTUM picks up nearly 20% over 24hrs

– More gains than losses

Updated at 1.30pm (UK GMT+1) August 14th, 2018..

The Top 10, as of 12pm (UK GMT+1) August 14th, 2018 looked like this…

Overview

The last 24hrs has seen a healthy amount of trading offering something in the way of support for a beleaguered Top 10 cryptocurrencies, taking back some of the heavy losses seen over the weekend and Monday. All ten of the most-traded coins added decent chunks to their value, with nine managing a 5%+ boost, with one over 10+ (in fact nearly 20%). Two coins feature in the most-traded list that weren’t there yesterday, entering at the 9th and 10th positions. The lowest volume of trading in the top 10 was $73m in total, around $9m less than it would have required to feature on the chart yesterday.

The total market cap of all cryptocurrencies is currently $204bn, according to Coinmarketcap, up more than 11bn from the same point yesterday – with Bitcoin accounting for nearly 54% of that total.

Among a Top 10 that saw something of a much-needed recovery over the last 24hrs, Bitcoin (BTC) consolidated its position as the most stable of the currencies in the Top 10. Having suffered markedly less, price-wise, over previous days than almost all of the other coins in the Top 10, yesterday saw it make the second most muted gain. It added a little over 5% to its value over 24hrs, standing at just over $6,300 at the time of writing. Trading saw it rise again above the $6,000 mark, a point that have proved a significant area of support throughout 2018 – though it has briefly sank below it at several times, it’s never consistently dwelled.

The last 24hrs of BTC trading against the US Dollar on Bitfinex – shown courtesy of Trading Viewm- shows that $6,000 support working yesterday afternoon (UK Time), before a steady rise establishes a new support point at $6,300 early Wednesday, where it still stands now.

In a nervous market, there have been a lot of theories about where Bitcoin may go next – with many pointing to its current high dominance, and the proliferation of leveraged short positions, as being signs that we could see further rises going forward. Only time will tell, of course.

Here’s how Bitcoin’s price looks right now…

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After a dismal couple of days that have seen a lot of panic surrounding the value of Ethereum (ETH) – leading to allegations that a lot of ETH-backed ICOs were looking to ‘cash out’ in order to ensure their future against a bearish market in 2018 , an 8% rise was something it badly needed. It has yet to get itself back above the $300 point, which many eyes will be trained on, however – something that it must do soon, if the great and the good of its community want to avoid more awkward questioning about its future. After all, blaming ‘trader types’ for your coin’s falling value will only get you so far.

While Bitcoin Cash (BCH) – despite being the lowest percentage gainer in the Top 10 – managed to get itself back above the important $500 mark, which we noted it had not previously been below since pre-boom times of November 2017, Ripple (XRP) was still languishing below $0.30 despite picking up 9% on the day. 

After spending much of yesterday oscillating around the $0.26 mark on the Kraken Exchange, early Wednesday trading (UK Time) saw it break out above $0.29 briefly before trading in a channel between that and $0.28 for the next 9hrs.

The trajectory of Litecoin (LTC) over that time is virtually identical, leaving it bumping along a new support line at $55. That’s a rise of just over 8% from yesterday. 

And here’s how the Top 10 looks at the moment, according to CryptoCompare…

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Joining the Top 10

ZCash (ZEC) and Digital Cash (DASH) both move into the Top 10 today, on the back of volumes of $90+ and $72m+ respectively – which has bought them both price boosts of around 7.5%.

Leaving the Top 10
After a fairly disasterous run over the last week or so, which reached its denouement with Tronix (TRX) dropping a whopping 24% in the 24hrs prior to yesterday report, TRX today drops back out of the Top 10 most-traded list today. It does, however, find some relief in a 10% price boost, though admittedly that only leaves it a few pips above the year lows it hit earlier in the week – which were as low as it had ever traded on some exchanges

Here’s how it looks right now…

Also dropping out of the chart from yesterday is Stellar Lumens (XLM) which, despite picking up 4% in value, drops down to 11th spot over the last 24hrs.

Biggest Movers by %

Within Top 10:

dApp platform QTUM (QTUM) is by far the best performer in the Top 10 picking up nearly 20% in value over the previous 24hrs.

Here’s how it looks right now, according to CryptoCompare…

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Outside Top 10:

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

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Here are the Top 10 losers.

After yesterday’s retreat to Exchange Tokens and Stablecoins, we see many of the names that managed to make a severely truncated all-gainer’s list yesterday feature in the loser’s list today – namely Bibox Coin (BIX), TrueUSD and CoinEx Token (CET).

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