Cryptocurrency Market Update: Bitcoin Diamond (BCD) Price Doubles on HitBTC Listing

FOMO Moments

Crypto land is pretty flat; altcoins recovering slightly are Stellar, Tezos and 0x, but Bitcoin Diamond is pumping

The weekend has been quiet in crypto land with no major gains or losses. Markets are up marginally creeping above $280 billion again but with little direction for future momentum.

Bitcoin has moved back towards its resistance level of $7,400, pushing slightly above it with a 1.7% gain to $7,450. If buyers continue throughout the day there could be another rally up towards $8k. Ethereum has been sluggish over the past few days with minor gains keeping it just above $465.

Altcoins are all in the green at the moment with Stellar leading the top ten pack regaining 7% on the day. XLM is currently trading at $0.295 according to CMC, it surpassed Litecoin to take sixth place in the charts last week. Since last Sunday Stellar has gained 27% from $0.214, against Bitcoin it is up 5.3% on the day to 3970 satoshis.

Cardano has regained just over 4% while the other altcoins in the top ten are showing 2-3% gains. Looking at the top twenty Tezos is the biggest mover with 4.5% on the day to trade at $2.22. The rest have made marginal upward movements but none are standing out. Decentralized exchange protocol 0x is making moves at the moment with a 7.5% climb to $1.18.

Today’s clear leader however is Bitcoin Diamond which has surged a whopping 60% in 24 hours. The spike happened a few hours ago propelling this Bitcoin offshoot to $4.70 from $2.27 in ten minutes. It has since pulled back to $3.55 which is a 64% jump from this time last weekend.

The BCD spike came from a HitBTC listing and subsequent Reuters, Nasdaq and Yahoo Finance coverage;

OKEx currently dominates BCD trade with 18% of the total volume, followed by Huobi and Binance. Trade volume for Bitcoin Diamond has not jumped in line with the pump indicating that prices could fall back to previous levels. BCD currently sits at 28th spot with a market cap of $538 million.

Total crypto market capitalization has climbed slightly by just under 2% to $283 billion on the day. Trade volume however continues to fall and is down to $11 billion from $14 billion this time yesterday.

More on Bitcoin Diamond can be found here: http://btcd.io/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

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