Crypto markets have been yo-yoing all week, one day up the next down. We end the week in the red once again as prices have fallen across the board and Asia is leading the selloff. Total market capitalization has fallen to its lowest level in a month and Bitcoin has shed another 4% on the day. Currently BTC is hanging precariously close to $8,000, if it falls below this things will get messy fast. Altcoins as usual have been hit even harder with a sea of red across the boards this morning. Only one way outside the top 25 is posting a gain today, and it is DigixDAO.
There has been no negative news or governmental clampdowns to spark this sell off but all gains over the past 30 days have been wiped out once again. Coinmarketcap is showing that the only altcoin resilient to a bearish market is DigixDAO once again. Currently trading at $198 DGX is up 3.5% on the day from $190 this time yesterday. It ends the week at a similar level to where it started, around the $200 mark. Over the month however there have been losses for DGD of 17.5% from $240 to its current level. Against BTC Digix is up almost 8% to 2461000 satoshis from 2283000 sats this time yesterday. There have been no weekly gains on Bitcoin as DGD was trading at roughly the same level this time last week.
In a time tested pattern DigixDAO always performs well in a bearish market. Being based on gold gives this altcoin more stability than any of the others and traders tend to buy up when the rest are falling. DGX was recently listed on Tokenlon decentralized exchange which may have given it a further boost;
— DigixGlobal “NO Giveaways” (@DigixGlobal) May 15, 2018
Currently trade is being driven by Binance with 87% of the total. Volume has increased in the past 24 hours by 66% from $2.3 million to over $14 million. Its market cap has been bolstered by this and currently stands at just under $400 million. DGD is ranked at 49th in the charts and is the only altcoin in the top 50 showing gains at the moment.
Total market capitalization for all cryptos has taken a 5.4% beating down to $366 billion where it currently stands. Further downward pressure is likely over the weekend as the bears gain momentum. All other altcoins have been hit hard during the morning’s Asian trading session and those with the biggest losses have been Iota, VeChain, Bytecoin, Icon and Zilliqa.
More on Digix can be found here: https://digix.global/
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.