Cryptocurrency Market Update: Siacoin Leading Monday Momentum

Markets holding steady on Monday; Siacoin, Stellar, ReddCoin and 0x performing well.
Cryptocurrencies are green this Monday morning on the Asian markets. The weekend recovery has held firm and the majority of cryptos are still rising. Market capitalization has remained above $225 billion and is still heading upwards at the time of writing.

Bitcoin has not moved much at all over the past couple of days and is hovering around the $6,700 mark. The short term outlook for BTC is bullish however its market dominance has fallen back to 51.2%. Ethereum is still recovering and has made a further 2.5% on the day to trade at $245. ETH is still at its lowest level for a year though so further gains are likely.

Altcoins are recovering well, largely at the expense of Bitcoin for a change. According to Coinmarketcap the top ten is all in the green aside from XRP which has pulled back a little from its huge pump over the past few days. The top performer in this section at the moment is Stellar which has made 8% on the day to $0.279. Cardano has also made a little back with 5.5% on the day but ADA is still very low. The rest are pretty static at the moment with marginal gains from yesterday. The top twenty paints a similar picture with Nem and Dogecoin both making 5% on the day, Neo up 3.5% and the rest just about even. Tezos is the only altcoin in the red dropping back one percent.

Today’s top performer in the top one hundred is Siacoin jumping 21% in 24 hours. Over the past month SC has made a solid 30%. Other altcoins performing well at the moment include ReddCoin, 0x and Bytecoin all trading over 8% higher right now along with Stellar. At the red end of the top one hundred is Emercoin and Aurora falling back 6-7 percent on the day.

Total crypto market capitalization has climbed almost a percent on the day and is now just over $226 billion. Since last Monday markets have regained over 10% and over $20 billion. They are also up 7.5% since this time last month and there is hope that the bottom is in and a recovery can now begin. Bitcoin’s market dominance has slid back largely as a result of XRP’s surge on Friday which saw it surpass Ethereum’s market share, ETH has since regained second spot.

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Binance lists SC coin and ICX – Coins get pumped!

Binance makes way for the cryptocurrency investors and traders. The company commenced in 2014 and has grown to be one of the largest, multi-language exchange platform.

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Binance is known to charge lesser transaction fees than its competitors for transactions and security. The trading platform has played a major role in the cryptocurrency market and has also been speculated to be the reason why coins pump up.

Today, Binance tweeted:
“Binance Lists SiaCoin ( $SC ) …”

Yu Okuha, commented:
“the best time ever!! siacoin to the moon”

CRYPTO_King, another Twitter user said:
“Be ready guys to double or triple your values”

Don’t forget to join our Twitter channel for Crypto, Business & Technology news delivered to you daily.

Today before the announcement of Binance listing SiaCoin [SC], it was being traded at the price of $0.011, post the announcement the coin experienced a rise, with the trading price of $0.014. The coin pumped up by 10.07% post the announcement.Yesterday, Binance announced that they will support the ICON [ICX] Mainnet token swap and they also added ICX/USDT pair for trading. Binance gave the notice of suspension of deposits and withdrawals for ICON [ICX] starting from 20th June at 05.30 IST. Binance will handle all technical requirements involved for all the users holding ICX.

Binance plays a major role in the trading prices of its listed coins and trading pairs. CoinBase, Kraken, BitStamp, and itBit were recently investigated for price manipulation techniques. However, Binance has not been under investigation for manipulation of prices in the cryptocurrency market.

At the time of writing, SC coin is traded at $0.014, with a market cap of $51 million. The coin has seen a hike of 14.33% in the past 24 hours and runs green in the hourly cap with a hike of 1.11%

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Author: Simran Alphonso
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