{"id":371896,"date":"2019-02-19T07:00:38","date_gmt":"2019-02-19T07:00:38","guid":{"rendered":"https:\/\/wncen.com\/?p=371896"},"modified":"2019-02-19T06:30:48","modified_gmt":"2019-02-19T06:30:48","slug":"crypto-trading-volume-hits-9-month-high-at-34-billion","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-trading-volume-hits-9-month-high-at-34-billion\/","title":{"rendered":"Crypto Trading Volume Hits 9 Month High at $34 Billion"},"content":{"rendered":"
The big crypto rally which began with Ethereum yesterday has continued today where a different top performer has emerged. Total market capitalization reached a high of $134 billion as a further $9 billion was added to yesterday\u2019s pump.<\/p>\n
Daily volume has not been over $34 billion since late April 2018 according to Coinmarketcap. This marks a huge 9 month milestone in crypto trading volumes and some analysts have predicted the beginning of what they term as \u2018altcoin season<\/a>\u2019 where market cap for them alone reaches a pivotal resistance point on the long down trend line.<\/p>\n Bitcoin has approached key resistance at $4,000 before pulling back to current levels around $3,920. This represents a 5% gain on yesterday\u2019s levels<\/a> where BTC reached $3,750. Bitcoin has run out of steam in previous recent two-day rallies so it is not expected to break resistance.<\/p>\n Ethereum has extended its lead over XRP by adding another 7% on the day to reach $147. The gap between the two is now just over $2 billion as Ripple\u2019s token faces possible competition<\/a> from JP Morgan\u2019s new stablecoin. XRP added 5% on the day to reach $0.324.<\/p>\n Today\u2019s top ten champion is EOS which surged 30% before pulling back to current levels around $3.60. It has raced past Litecoin and retaken fourth place with a clear margin of nearly $400 million. EOS volume pumped to over $2.3 billion pushing the token to a three month high. Bitcoin Cash is also performing well during the day\u2019s Asian trading session as it adds double digits and approaches $150.<\/p>\n The top twenty is showing a more balanced round of gains with Cardano, Dash and Ethereum Classic leading the group here making over 8% since the same time yesterday. The rest are showing solid improvements from low levels over the past 30 days.<\/p>\n Aside from EOS and BCH, big fomo is also going to Mixin at the moment pumping 17%. Holo is also getting a big hit with a 15% jump on the day. EOS is the top one hundred\u2019s top performer though. Predictably yesterday\u2019s pump is dumping today as WAX sheds 16% and Quant is not far behind dropping 9%.<\/p>\n