Crypto Market Snapshot – January 11, 2019

Crypto Market Snapshot – January 11, 2019

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Today, the cryptocurrency market wasn’t able to produce a recovery from yesterday’s sell-off that hit coins across the board. The total market cap has stabilized, inching up by 0.3% in the last 24 hours. 61 of the top 100 coins are up on the day, although most have displayed minimal gains – only 9 increased in value by 5% or more. Total volume has cooled down considerably (-36%) as the sideways movement among the top cryptocurrencies failed to sustain the levels of trading activity that were present during yesterday’s significant price drops.

The price action in the crypto top 10 was mostly uneventful, with most coins in this category posting small gains or small losses. TRX and BCH were exceptions with more noticeable drops of more than 5%. 

The Bitcoin markets did not produce any fireworks and the price of BTC fluctuated between $3,640 and $3,710. Trading volume started off at around $5.3 billion but slowly diminished to about $4.07 billion. 

As is usually the case, smaller coins displayed more drastic price movements. ChainLink’s LINK token surged by over 20% despite no significant news for the project being released. LINK has been a tremendous performer recently, growing by 95% in the last month (#1 gainer in this period among top 100 cryptocurrencies by market cap).

Apart from LINK, MITH and IOST also delivered double digit gains. The IOST mainnet is scheduled for launch on February 25.

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