PRESS RELEASE: Altcoins Dominating; NEM Leading in Recent 24 hours

PRESS RELEASE: Altcoins Dominating; NEM Leading in Recent 24 hours
May 16, 2019
PRESS RELEASE: Can Bitcoin Win the Digital Payments ‘Gauge War’?
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The entire crypto market seems to be on an upside quest. Bitcoin and all other major altcoins continued to gain ground on Thursday early morning. The total capitalization of the entire digital assets market gained $19 billion on Wednesday surging from $243 billion to $262 billion. Moreover, the average daily trading volume reached around $102 billion.

However, Bitcoin’s market share dominance dropped to around 55.7% as altcoins seem to be taking over successfully lately. The largest crypto retraced from intraday high.

Top 3 Cryptocurrency Overview

Bitcoin is currently hovering around $8,200 approximately 2.2% higher in the last 24 hours. The most popular token came close to the $8,400 level simultaneously hitting a multi-month new high during the early hours of the Asian trading session on Wednesday. Volatility remains considerably high although experts believe that the digital coin is vulnerable to a short-term correction.

Ethereum ranks as the second biggest digital asset with a market value of over $27.2 billion. It is one of the best performers in the latest altcoin rally. ETH/USD gained around 20% in the past 24 hours and 10% since the beginning of Thursday. At writing time, Ethereum is valued at $257.

Ripple the third largest cryptocurrency and it is also rising. At the moment, XRP is sitting at $0.4460 with over 3.7% gains in the past 24 hours. The token has a total market capitalization of $18.8 billion.

Movers and Shakers

NEM is the undisputed leader in this rally. At some point, it had surged with around 48% but has since retracted to hover around 32.5% in the past 24 hours. NEM now sits at the 19th position in the cryptocurrency rating with a market value of around $827 million. It is changing hands at $0.0919.

Stellar is also a big mover currently gaining over 17.9% in the past 24 hours. XLM/USD is currently valued at $0.141 taking the 9th place in the CoinMarketCap’s list with a total capitalization of $2.7 billion.

Ethereum Classic (ETC) surged towards $8.2 on Thursday representing a 23% gain in the past 24 hours. It has however retracted a little hovering around $7.82 currently representing a 16.3% gain. ETC occupies the 17th position with a market cap of $864 million. This token is moving within a strong bullish trend amidst the highly volatile markets.

Whichever direction that the crypto markets will take, only time will tell. However, the bulls are winning for now.

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