Market Update. Thursday, January 17, 2019.

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Let’s do another market update today. General crypto markets are still going sideways, possibly preparing for a downwards move. Let’s dig a little deeper into what is happening with cryptocurrencies today. 

The overall situation

The total market cap is resting at $121 billion and the 24h volume is $16 billion. In the past week these numbers are jumping up and down from $128b to such lows as $116b, but in general the cycle is staying rather even. There are 16199 markets open and 2109 cryptocurrencies in this space.

Bitcoin dominance is slowly stepping up in the past week going from 51.17% to 53.07% on 13 January. Now tumbling back at 52.36%.

As we remember Bitcoin was going sideways for a long time when the price was at around $6,500 and then it experienced a decent crash to $3,500. I believe we are prepping for a similar situation. Moreover, there are bullish signs of large countries willing to invest in Bitcoin. So it is believed that they want to drive the price down once more.

The top 10 coins and tokens

Today the top 10 cryptocurrencies aren’t showing much movement. It looks like we are on a crypto holiday season. On the other hand, these assets are starting to prove their consistency, but let’s not jump to conclusions yet. We soon could experience either a hard fall or a booming upwards movement. The number one cryptocurrency is still dictating the way other assets are moving. Bitcoin is still at the top, trading at $3,637, followed by XRP $0,32 and Ethereum $122. Bitcoin Cash is surprisingly still resting as the 4thmost popular cryptocurrency despite all the drama with Bitcoin SV, which currently 10th. Overall, generally speaking, the top coins lost even more since yesterday and it looks like they are keeping the selected trajectory. 

Top Gainers in the top 100

However, when looking at the top gainers in the top 100, we see a rather different picture. Altcoins are surging their way into the green zone today. Apollo Currency (APL) is making its way to the moon with +109% today, and creating a chart that has been long forgotten:

APL has reached a new All-Time-High in this bear market! The volume just reached $1 million. It went from $0.000877 to $0.002225 in the past two days.
It looks like Apollo Currency has a huge community, and it recently got featured in Forbes magazine.

Also, Augur skyrocketing with +40% with no significant reason, although, people say that this has been going on repeatedly, and that this could be fake.

A Twitter user @CryptoPinoy claims that this is a repeating pattern for Augur.

As we can see in the picture, last two times that Augur experienced a bull-run, it dropped to new lows.

Moreover, Loopring going up with + 22%, PowerLedger making a move with +19%, Status with +12% and Steem with +10%.

Could this be a bullish sign, or just a temporary reminder of altcoins as such? As mentioned above, generally, we are going sideways for the past week or so, and this could be a small set up for an even bigger retracing back to $2k Bitcoin. 

Source:

coinmarketcap.com

twitter.com

Photo by Pexels.com

The team of 0x announces 0x Instant

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Recently the team of 0x announced their new release called 0x Instant. With this new update, users can now make instant crypto payments. Also, smoothly add purchasing to any app or website they have. 

“Instant is open-source, fully configurable, and allows hosts to earn affiliate fees on every transaction. Under the hood, Instant aggregates liquidity from 0x relayers for any ERC-20 or ERC-721 asset. It automatically finds the best prices within the 0x networked liquidity pool and lets users pay for tokens with ETH via MetaMask, Ledger, Trezor, or any other Ethereum wallet,” says in their blog post.

Coinbase Wallet already using Instant

The 0x team claims that Coinbase and Balance are already using their new 0x Instant improvement in their products. With the help of Instant customers of Coinbase and Balance can seamlessly purchase tokens within the services. All this is available with the multiple tools that 0x Instant provides. You can start with Instant Configurator to identify the tokens you support. Choose a liquidity source and select the affiliate fee, if there is any. Next, with Asset Buyer, you can configure and have full control over how the UI is designed. Also, they explain how this works in their blog post: “AssetBuyer leverages the new forwarder contract to abstract away the complexities of sourcing orders and performing market buys in the 0x network. That means no more wrapping ETH!”

A diverse set of projects already being hosted

0x claim that “Developers and creators can utilize Instant to build product experiences that couldn’t have existed before.” These projects include non-fungible token marketplaces, non-custodial crypto wallets, as already mentioned above, dApps, and crypto price feeds.

Non-fungible tokens are a particular type of cryptographic token which represents something unique; non-fungible tokens are thus not interchangeable, says Wikipedia. 0x Instant main focus with these NFTs are crypto gaming industry. Recently Emoon implemented Instant to provide users access to a wide variety of NFTs. Emoon is a decentralized marketplace for ERC-721 assets.

CoinGecko adds 0x instant

For dApp projects, an example is Augur, “which integrated Instant to offer REP, so users can quickly join their network to participate in prediction markets.”

CoinGecko, as a crypto price feed representative, has added Instant to several coin pages, so that buying these coins become even more accessible than ever before.

Instant crypto transfers

This development, of course, marks another step closer to mass adoption, as this makes buying crypto so easy either for crypto beginners or already experienced users. However, this also paints a pretty vivid picture for the future, how crypto transfers and purchases might happen. Just by a few clicks, your desired cryptocurrency can be purchased straight to your Ethereum wallet. That is done though Metamask, a Google Chrome extension, which is a bridge between your Ethereum wallet and Google Chrome browser. Also, Brave browser supports this as well. This is yet another important step towards easing the way how people buy cryptocurrencies. Consequently, this technology will develop over time and we might see new features to come.

Source:

https://goo.gl/NVsHLJ
https://0xproject.com/instant

Photo by bruce mars from Pexels