Cryptocurrency market update:Weekend recovery peters out
|- BTC/USD is again below $8,000 as the recovery has stalled.
- Altcoins are nursing losses on Monday.
Bitcoin and all major altcoins staged a good recovery on the weekend; however, the recovery has stalled in Asia on Monday with Bitcoin and all major altcoins are back in the red zone again. The total capitalization of all digital assets in circulation hit $247 billion from the recent low of $222 billion, while an average daily trading volume dropped to $87 billion by the time of writing.
Top-3 coins price overview:
- Bitcoin recovered to $8,300 during early Asian hours on Monday before retracing towards $7,974 by the time of writing. The first digital coin is down 2.8% since the start of the day; however, it is still moving within a long-term bullish trend.
- Ethereum, the second biggest digital asset, has lost over 4% on Monday amid sharp sell-off during Asian hours. ETH/USD touched $260 handle before retracing back below $250 area. At the time of writing, ETH is changing hands at $249.45, while its market value is registered at $26.5 billion.
- Ripple's XRP is trading at $0.4013 at the time of writing, down 4% since the beginning of Monday. The third largest coin has a total capitalization of $16.9 billion and an average daily trading volume of $2.7 billion.
The biggest market-movers:
- DASH (TRX) is the biggest winner of the day, up 14% on a day-on-day basis. TRX/USD is changing hands at $166 at the time of writing. The coin takes the 13th place in the cryptocurrency rating with the current market value of $1.4 billion.
- Bitcoin Cash (BCH) is another strong performer. The coin has gained over 7% since this time on Sunday to trade at $404. Now it is the fourth largest coin with the market value of $7.1 billion.
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