Crypto Market Wrap: Bitcoin Drives Markets Higher as Dominance Approaches 55%

Crypto markets moving up this Friday; Bitcoin leading the pack, Cosmos still climbing, BNB and Tezos doing well.

Following a week of consolidation crypto markets have started to move again as Bitcoin grinds ever higher. The Friday momentum has pushed total market capitalization back towards the top of its trading range at $180 billion. Heavy resistance resides here though so further gains may not be forthcoming so quickly.

A couple of hours ago Bitcoin hit an intraday high of $5,550 adding nearly 3 percent on the day which is the highest it has managed for over a week. Heavy resistance in the form of the 50 week MA sits above it at $5,600 and it will be a challenge for BTC to break that. At the moment though, the sentiment is bullish.

Ethereum has inched up a little in the shadow of its big brother. ETH is currently trading at $164 adding a couple of percent on the day. Ethereum has remained bearish for the past couple weeks despite a number of positive developments.

The top ten is largely in the green at the time of writing during morning trading in Asia. The biggest move has been made by Binance Coin which has added a further 7 percent on the day to reach $23.40. The rest are adding a couple of percent on the tail of Bitcoin aside from XRP and Stellar which are flat or in decline.

The top twenty is a little more mixed at the moment. Cosmos and Tezos are streaking out ahead with 13 and 8 percent added respectively as these two jostle for fifteenth place. Maker has also woken up again gaining 4 percent today knocking Ontology out of the top twenty.

FOMO: Cosmos Comes From Nowhere

When Coinmarketcap counted the circulation of ATOM tokens it instantly jumped into the top twenty. A subsequent Binance listing has kept the fomo going for this project which calls itself a “decentralized network of independent parallel blockchains.” It seems that as markets in general are picking up people…

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