Another Friday Slide as Crypto Markets Shed $10 Billion

FOMO MomentsCrypto land is falling again; Neo, Tezos, and Bytecoin are all in pain.

As another week in crypto land comes to a close markets are bearish once again and all coins are falling. Total market cap has not managed to push above $270 billion and is retreating back towards $260 billion. Bitcoin has found no new buyers and has declined 2% on the day falling back to $6,560. The next support level is around $6,400 and it looks like it will be heading there over the weekend. Ethereum has also retreated, down 3.2% to $460.

All altcoins are in that familiar bearish pattern, losing more than their two big brothers. It the top ten Bitcoin Cash, EOS, Cardano and Iota are all getting hit the hardest at the moment losing between 6 and 7% on the day. After performing well over the past few days Neo is taking a drubbing again getting pushed back below $40, down over 10% on the day back to $37.50. Tron and VeChain are also big losers in the top 20 with the pair dropping 8% over the past 24 hours.

Looking further down the chart the recently pumped Tezos has crashed 36% over night plummeting back to $1.20. Bytecoin is also having a bad day with a 15% slide on the day and with it Icon, Zilliqa and Decred losing 10%.

There are very few altcoins in the green today but Ethereum Classic is one of them with a marginal one percent gain. Augur is also up by a similar amount and Kucoin Shares in 50th spot is showing a 5% gain on the day.

Total crypto market capitalization has fallen 3.7% on the day shedding $10 billion to $263 billion. Trade volume has remained stable at around $15 billion and Bitcoin dominance remains at 42.7%. Over the week though crypto markets have gained 11.5% from their yearly low of $236 billion this time last Friday. Just below $260 billion seems to be the weekly support level though so if they drop further we could see more losses over the weekend.

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.