Cryptocurrency Market Update: Crypto Consolidation Continues

FOMO Moments

Sleepy Sunday in crypto land; Veritaseum making a move, Ravencoin flapping.

It is another slow Sunday in crypto land with markets still slumbering. There has still been no movement for most of the major cryptocurrencies leaving markets at the same level around $210 billion.

Still at the same level a touch below $6,500, Bitcoin is static. BTC has traded at the same price range for the past two weeks and has not been able to get anywhere near $6,600. Ethereum is also immobile for another day trading at just below $205.

Yet again the altcoins are mixed and there really isn’t much to write about. Nothing is gaining more than a percent on the day in the top ten and Stellar has declined the most falling back over 2% to $0.228.

The top twenty shows equal torpor with more red than green. Iota and Nem have dropped just over 2% and Dash is not far behind. There are no altcoins making gains until we get way down the chart, and even those are small.

No major fomo pumps going on either today as the markets sleep. The top performer in the top one hundred at the moment is Veritaseum climbing 8% on the day. Polymath and Metaverse ETP are both up just over 7% and Decentraland has made 6.5% at the time of writing. Dropping between 5 and 6 percent at the red end of things is Ravencoin, Aion, Bytom and Golem.

Total market capitalization is still at $209 billion, exactly the same level as this time yesterday. Over the past week markets have ranged between $212 and $208 billion, unable to break out in either direction. The crypto bears are keeping things firmly on the floor and markets haven’t really done much since early September. A real recovery looks a long way off at the moment and this lethargy could continue for another month or more.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

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