Reports indicate that crypto markets have been recouping daily losses. As of press time Binance Coin and Nem are trading in the green, while EOS is getting badly hammered. The downward trade movement hitting crypto markets has carried on today as top digital assets slid further back before managing to initiate a recovery.
Monday’s declines in the price of Bitcoin (BTC) and a host of other tokens have carried on to Tuesday looking at the Asian trading session. The total market capitalization as of press time has managed to recoup some value reaching similar levels at $130 billion.
Bitcoin (BTC) Struggling to Stay Above $4,000
Bitcoin (BTC) popularity hasn’t succeeded in keeping the digital asset above the $4,000 level. This has caused the cryptocurrency to enter dangerous territory. A 5% drop in value saw Bitcoin (BTC) fall into a new intraday low of $3,840 just several hours before managing to pick momentum and bounce back. The token just moved back to just $4,000 as of press time.
Ethereum (ETH) Sits at $112 With no Hope of A Recovery
Ethereum (ETH) much like it’s competition Bitcoin (BTC) has traded in the red since Monday. The digital token has fallen back to the $112 area and doesn’t really look like initiating any discernible recovery soon. Virtual coins are all still trading in the red precisely at this moment with some other tokens suffering more punishment than others. Among the top ten EOS is getting crushed having recorded a 10% dive to trade at the $2.55 area as more centralization woes hit the project. Bitcoin Cash is also collapsing the digital asset was the worst performing token in November. Now it has lost another 6% at the close of trade on Monday.
Binance Coin the Only Winner So Far
Critical analysis of the chats shows that there is just one winner this week among the top twenty digital assets. That is Binance Coin which has climbed by 9% on the day. Binance Coin has reached $5.60 against the USD as it collaborates with Decentraland for a MANA competition along with the crypto Airbnb platform Tripio.
As for NEM and Dogecoin, there have also been little gains, but the rest of the pack are falling. If the current market slump stays on Ethereum Classic (ETC) and Bitcoin Gold will drop down by 6%.