Fundamental analytics

Positive start of the week for the crypto currency market


As expected after lunar holiday week in Asia, trading activity in Crypto market significantly increased. Moreover, at the weekend, the cryptocurrency market showed good growth, not seen for already seven weeks. For two days the market capitalization increased from $ 113.7 billion to $ 121.3 billion.

Among the most significant events of the weekend, we can highlight the following topics:

First it is worth to note the shift in crypto capitalization leaders. The other day Ethereum bypassed Ripple on capitalization and acquired back the second position in the list. Today Ethereum has gained its lead since the token demonstrates growth of more than 2% (totaling up to 12% for the seven days of trading), while Ripple lost about 0.7% from the start of trading on Monday (for seven days trades Ripple trades + 0.6%).

Litecoin keeps on gaining and according to the results of seven days this crypto market is gaining more than 30%. Analysts point out to several reasons for the increased investor interest in this crypto. Firstly, this is cooperation with CoinGate company (the news broke out that earlier that the company connected Litecoin payments to all its partners, to more than 4.5 thousand of entities). Secondly, this is a previously announced decision on integration into the MimbleWimble network, to ensure anonymity of payments. The decision which was welcomed by crypto community and provided additional interest in this crypto.

Binance Coin has become another leader in the growth of the weekend, for the market added + 38% for seven days of trading, and today it is growing by more than 4.5%, keeping the tenth position in the ranking of the largest in players of capitalization. The interest in the token has intensified significantly after Binance exchange announced another token sale on the Launchpad platform, as well as the launch of Binance Chain network test. The company also announced the launch of a decentralized Binance DEX exchange.

Bitcoin also added over the weekend. The largest crypto currency market strengthened from $ 3,320 and rose to the level of four weekly highs of $ 3,685. After that, the market adjusted and retreated to the area of $ 3,560.

This positive sentiment is yet to test its sustainability, as the general market sentiment remains somewhat negative. This is unlikely the expected reversal but we must admit that this a positive sign that brings interest back to the market.  

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