Crypto Market Snapshot - July 13, 2018
Today, the cryptocurrency market bounced back to a $250 billion market capitalization. Five coins saw significant spikes after they were mentioned by Coinbase as possible additions to their platform. In the top 10, the coins that were not mentioned in the Coinbase announcement saw gains from 1.2% (Bitcoin) to 3.3% (Bitcoin Cash). Cardano (ADA) and Stellar (XLM) both received mentions, and increased by 11% each. BTC dominance dipped to 42.6%, decreasing slightly from yesterday’s levels.
Very early in the day, Bitcoin saw a sharp increase from $6,150 to $6,250 and then spent the majority of the day hovering around the $6,250 mark. Currently, BTC is trading at about $6,200. Trading volume reached a peak of $4.1 billion and was at $3.6 at its lowest point. Overall, it was an uneventful performance, but BTC holders will take a break-even performance over the heavy drops we’ve been seeing recently.
For many people, Coinbase is the gateway into the world of cryptocurrency, and the platform’s conservative approach towards adding new coins has fueled a ton of speculation about which cryptocurrency they will list next.
Today’s worst performers list includes Augur (REP), which is most likely affected by the »buy the rumor, sell the news« trading strategy. Just a few days ago, the Augur protocol finally went live, a little less than three years after the project’s initial coin offering. While Augur has delivered a working product that’s already seeing real volume, its current implementation has been seeing some criticism from users alleging a lack of accessibility. With time and feedback, Augur will hopefully be able to deliver a more polished user experience.
DigiByte (DGB) appears to be cooling off from its extremely strong rally which started on June 24 ($0.019) and peaked on July 9 ($0.044). The token is currently trading at $0.036 after dropping by about 3.6% in the last 24 hours.
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