Crypto markets are lower this morning as the sector sees a pullback from its aggressive run-up earlier in the week. Spot volumes, while still above the 30-day average, are only about a third of what they were Tuesday and Wednesday.
Some of the more aggressive moves saw DASH up in the range of 100% over 24-hours, Zcash (ZEC) +70%, ETH Classic (ETC) +50% and Bitcoin Cash (BCH) +40%. Bitcoin SV (BSV) was far and away the best performer (+200% at its highs).
We've Been Hearing A Lot About BTC Technicals In The Most Recent Rally - We Wanted To Share Some Broad Thoughts About How, In Our Opinion, These Indicators Differ In Crypto Versus Traditional Public Markets
Since The Launch Of Several New Futures Platforms, Data Provided By Individual Exchanges Appears Inconsistent - While There Is Little Way To Prove Wash-Trading Or Misreporting Volumes, There Is Evidence That Such Practices Could Be At Work.
In late 2018, XRP had at times surpassed ETH as the second-largest crypto by market cap. The story was far different in 2019. XRP was the worst-performing crypto in the Top 10, losing half of its market cap or over USD 7B equivalent.
On Monday, Crypto Security & Research Firm Chainalysis Released A Report On The Unwind Of PlusToken, Which Is Described As A Scam - The Paper's Hypothesis Is That The Sales From The Alleged Crooks Are Weighing On Crypto Markets