We will take a look on gainers and losers on the coinmarketcap today
Coinmarketcap today is sitting at $207 billion with a Bitcoin dominance of 53,8% slightly increasing since our last review. For the past 24 hours, the volume traded globally pushed the coinmarketcap today at $10 billion. Coins gained and lost across the board anywhere from +155% to -48,42% and +903% to -61,39% for the past week respectively. Before getting on the biggest gainers and losers keep in mind that coinmarketcap today focuses on bitcoin dominance. This analysis will focus on why those coins gained while other lost value on the coinmarketcap today. We have traveled a long way to give up now. Truth has been told only a few understand the positive side of trading. That been said, let’s go ahead and analyze the pros and cons for all coins that gained or lost for the past week. Coinmarketcap volume rankings are provided by the top 10 exchanges.
Top 3 Biggest Gainers
Starting off is Simmitri (SIM) with an outstanding performance for the past week gaining +903,56% showing no signs of slowing down. Launched on October 08 and listed on two exchanges the coin performed surprisingly well. SIM started with $0.01 (one cent) and grew in two weeks at $0.10 (ten cents). Sim contributed to the coinmarketcap today with $351,638 but considering its circulating supply, quite an achievement. Total supply 350 million SIM vs circulating supply of 897,653 SIM.
Second biggest gainer for the past week
Globalvillage Ecosystem (GVE), increased 225% after a week of testing support levels it decided to move upwards. The coin was released on July 25 at a price of $0.005 (half a cent) and sitting now at $0.001. It might look like nothing impressive considering its real value however the volume traded was $506,546 on coinmarketcap today.
Third biggest gainer at coinmarketcap today
United bitcoin (UBTC) increased in the past week with 159% and considering its initial value in December 19 of 2017 not bad. The coin was listed at a price of $432 and sitting now at $9,77 on the coinmarketcap today. Probably you’re assuming my analysis is off but I can assure you is not because of the traded volume. When the coin was released and had a higher value the volume, on the other hand, was $202,700. Today the traded volume surpassed the one when the coin was released contributing to coinmarketcap today with $226,885. Still confused? Allow me to elaborate, UBTC was overappreciated at its release where the traded volume was created only by its listing. What we are experiencing on the coinmarketcap today is an undervalued coin but constantly traded.
Top 3 Biggest Losers
Starting with the first on our list Project Coin (PRJ) losing -61% for the past week and a low trading volume on coinmarketcap today. The coin was listed in September 12 at a price of $7,6 and a trading volume of $186,663. On coinmarketcap today the trading volume is at $60,530 and a coin price of $0,71, however, its total market cap is over $1 million. That can mean only one thing: Trend reversal once the whole crypto markets start its bull run.
The second biggest loser on coinmarketcap today
BitcoinX (BCX) yet another bitcoin copycat that didn’t get its originals attention from the crowd. Existing since December 15 of 2017 and with an initial coin value of $0,06 BCX created over $24 million volume. As expected from a copycat on coinmarketcap today it only generated $124,012 and a coin value of $0,005.
Third and last biggest loser on our list
Lightpaycoin (LPC) with a -49% loss in the past week and probably one of the lowest volume traded. This coin was listed in July 25th at $4,11 and generated $462,687 in traded volume. On coinmarketcap today its sitting at $0,45 however it’s market cap surpassed $1,5 million. Concluding to the same theory of a bull run for this coin along with all the rest.
Profits can be made both ways depending on the type of trading for all six coins mentioned above.
The coinmarketcap today pinpointed a couple of dormant opportunities for other coins not mentioned in this review.
Shouts out to coins that performed amazingly in the past week. The bull run is approaching steady and sure.
The interesting aspect of cryptocurrency trading is how circulating supply impacts the total supply and the total market cap.
Moreover, traded volume in the past 24h plays a major role when trading cryptocurrencies on an exchange or as CFD.
Like always I wish you Happy Trading and Every Success!