Joe Crypto: The Volcano Vents, It Does Not Blow
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It has been an odd week on the markets and we kept looking forward to the day that pent up energy would finally let go. Well today wasn’t quite that day, but the volcano is venting and it feels like it’s getting ready to let go.
We have seen some outrageous gains in some unexpected places and people got rich today backing some very odd horses. The main market, though, barely moved.
Aurora is Turning into an Enigma
Aurora has been in the news of late, but today’s 38.26% boost came out of left-field. A new market cap of $91.03 million and daily trading volume of more than $918,000 is actually pretty impressive for a recent launch that seemed to be running out of steam. Today was a spike after a steady decline, and we’ll just have to see how it plays out from here.
What is Happening With Eternal?
Eternal continues to defy logic as well. The coin launched in June and, in the absence of seemingly any news or reason why, it has added more than 600% in the space of a week. It looks like a pump and dump, but this is a new coin that launched in June and there might be reasons we just have not been informed about. Either way, Eternal is rocketing.
In the last 24 hours it has risen by 31.26%, which is massive, and we can’t really bet against it anymore.
Noah Coin Keeps on Floating
Noah Coin is another one that we’re softening our stance on. It has seemingly sprung up out of nowhere, The last time it spiked like this was the end of August, when it actually finished with a market cap of $122.83 million, albeit briefly. Right now the market cap is $77.01 million, so watch this one in the coming days.
It still doesn’t feel the most secure long term bet, but the daytraders might want to take a chance. The 29.75% jump in the last 24 hours is impressive and we simply don’t know if there is more to come this time. There was last time.
Holo Jumps into Focus
Holo was another big winner today, jumping up 16.86% in the last 24 hours. Tron is never far from the news now and the Ethereum-based dApps environment and developer network aims to unify the blockchain community with standardized code. KYC compliance is the latest news and it just keeps powering Tron forward. That seems to be working, to an extent, and Tron jumped 6.84% in the last 24 hours.
Big Guns Stay Static
The main players, though, barely registered an uptick. Bitcoin rose 1.64%, Ethereum climbed 2.54%, XRP ‘jumped’ 2.18% and Bitcoin Cash made 0.83%. These are tiny numbers and the top of the table is locked in a total stalemate of a week. Either there’s even more pent up energy waiting to explode at the top of the table, or the big guns just aren’t going to move at all.
Few Losers on Today’s Market
Losers were thin on the ground today and the worst casualty was DentaCoin, with a 5.06% loss. Rchain and Monacoin have both added value of late, so they will take today’s minor losses with a smile. STEEM, too, can cope with a 2.13% loss after its recent progress.
It was a good day, not a great day, and you had to bet on some really odd horses and get lucky if you wanted to make out like a bandit on today’s market. People did spectacularly well today, though, in the face of a stagnant market. Maybe it’s time to look at the coins that are making a move and start backing some unusual Altcoin horses…
The author is not invested in any digital currency.