Crypto Market Update February 19, 2019

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In today’s crypto market update, we’re going to look at the past top gainers, top asset trend lines, market cap and daily volume of the most popular exchanges. In the past days, the crypto Gods have blessed us with quite notable gains, so let’s look at the most giving assets in the past days. The color green in yet again taking over and a slight smile is forming onto traders faces across the crypto globe. The total crypto market cap has risen in the past days by $13 billion. Bitcoin dominance fell below 52%, now being at 51,6%. The total volume of crypto markets is $36 billion.

Top Gainers in the past days.

EOS

The top gainer from the Top 10 coins and tokens in the past 7 days definitely is EOS. EOS experienced +31.1% in the past week, but mainly in the past couple of days. Who said you can’t profit in a bear market? Well, of course, if you’re not the hodler from August 2017.

I couldn’t find a particular reason why exactly EOS is pumping so hard, but lot’s of traders on Twitter are sharing their wit that they knew this ahead of time. Of course, what else they could say. However, today EOS managed to go past the target at 8830 sats, and now is continuing its way up. Also, there are two ways you can look at these charts: the market against Bitcoin or against USD. If you’re willing to sell and accumulate more BTC, then look at the EOS/BTC chart, but if you’re willing to sell immediately to USD, then EOS/USD chart would fit best for you. Although when comparing these two charts, we see a drastic difference:

EOS/BTC chart
EOS/USD chart
EOS chart on coinmarketcap.com

But an interesting question is sneaking around Twitter:

I’m sure a lot of that money is used in product development, but that is a huge amount. I mean $4 billion… It’s needless to say that EOS has had some troubles explaining this in the past.

Ethereum

Next, surprisingly, comes Ethereum with +22.4% in the past 7 days. ETH went past the 1st resistance mark and now is resting at the edge of the second resistance mark at $146. Of course, the main target is at around $210, so we have a long way to go. Also, the daily volume has set new highs, being the highest ETH has seen in the past four months or so. Although that depends on where you are checking your charts. As you can see coinmarketcap.com compared to Tradingview paints a bit of a difference.

Ethereum volume on tradingview.com
Ethereum chart on coinmarketcap.com

This pump may be because of the near Constantinople update, but, however, it might be postponed again due to security issues. On the other hand, in the past couple of days, many coins are pumping so this could be just a temporary market uptrend.

Bitcoin

Bitcoin, on the other hand, is testing new “highs” at $4000, but now still sitting at $3,926. Will we break through the next two target points? The 7 MA (green) moved past the 77 MA (orange) and bravely is continuing its way up. The 231 MA is on an uptrend in the past hours and 77 MA has crossed it upwards. Are we looking towards a bull market?

Bitcoin trend lines. Source tradingview.com

However, Murad Mahmudov has a different point of view:

Volume in the past 24h

Judging by this measure, we should get an approximate picture of the most popular daily used assets. And as we can see in the picture below, Bitcoin is the number one asset, followed by a stablecoin Tether. Both accumulating around $10 billion. Only after them comes Ethereum with half as much volume at $5 billion, and after Ethereum comes EOS, also with half as much volume as Ethereum – $2 billion. As we can see, Litecoin in the past 24 hours has had more volume than Ripple, so it is safe to say, that Ripple (XRP) is losing its positions. Could it be because of the latest JP Morgan stablecoin? Another interesting position in the top 10 is Qtum, which is accumulating $356 million in the past day, getting ahead of Dash.

Top assets by the daily volume. Source: coinmarketcap.com

Top Exchanges

When looking at exchanges, this becomes pretty mind-boggling. Coinmarketcap.com and Coingecko.com show a completely different picture. As we can see in the pictures below, the information completely differs from each other. This might be because we are measuring them by USD daily volume. One thing is for sure – Binance is at the top of both websites, but as we all know – Binance is not a regulated exchange, so anything can happen. But when it comes to the second position or any other in the top 10, this is where it gets tricky. Coinmarketcap.com shows that Bit-Z is second with $1,2 billion adjusted volume. However, coingecko.com shows that ZB.com is second with $1,4 billion volume. On the other hand, coinmarketcap.com lists ZB.com at rank 13 with $525 million adjusted volume… What gives? Well, one thing is that these both statistics websites are tracking exchanges by different measures, but I wouldn’t have imagined that the overall picture would be so mind-blowingly different.

Statistics on coinmarketcap.com
Statistics on coingecko.com

I couldn’t stay still with such confusion on crypto exchanges, so I went on https://exchangewar.info to find some clearance. When sorted by top BTC volume I kind of got my answers I was looking for. This might be the main difference between these statistics websites and the USD daily volume. In some of those exchanges Bitcoin is not covering the main daily volume, so that is why the statistics are different.

Statistics on exchangewars.info

Source:

coinmarketcap.com
coingecko.com
exchangewar.info
coin360.com