March 3, 2018

Asian Altcoin Trading Roundup: Top Cryptocurrency is Monero

As we roll into the weekend markets have gone predictably red once again. bitcoin is up a couple of percent but most of the altcoins are sliding during the morning trading session in Asia. One however stands out from the rest and today the leading altcoin is Monero.

Coinmarketcap reports that XMR is up over 15% today. From a trading level of around $320 yesterday the anonymous private altcoin has jumped to $372 today. Monero has been one of the better performing cryptocurrencies during February, rising 11% when most other coins have fallen. Looking at the weekly picture XMR is up 37% and continues to climb.

The price hike is likely due to an upcoming hard fork and airdrop around March 14. MoneroV will be spawned and holders of Monero will get a 10x bonus of XMV tokens. It has now become a regular pattern that the lead up to forks or airdrops significantly boosts the price of the cryptocurrency in question. Monero is likely to continue upwards, breaking $400 again in a few days. It has been pretty stable when other coins have pumped and dumped and reached an all-time high of $490 during the early January spike.

Monero is traded across all exchanges, the top three being Bithumb, Bitfinex and Binance. Market capacity currently stands at $5.8 billion putting this altcoin just in the top ten at ninth. Around $218 million has been traded in the past 24 hours.

Litecoin is the only other altcoins in the green in the top 25 this morning. A few outside the chart include Steem, Stratis and Ark. All others have fallen slightly.

More on Monero can be found here: https://getmonero.org/

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

Published at Sat, 03 Mar 2018 04:35:49 +0000

Altcoins

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To delay falling into a fiscal and financial sinkhole.

“Let’s drop the pretense. The Toronto housing market and the many cities surrounding it are in a housing bubble,” Bank of Montreal (BMO) Chief Economist Doug Porter told clients in a note last week.

Many have called it “housing bubble” for a while, but now it’s official, according to BMO. In January, the benchmark price and the average price were both up 22% year-over-year, with the average price of detached homes up 26%, of semi-detached homes 28%, of townhouses 27%, and of condos 15%. Double-digit price increases have become the rule in recent years.

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Home prices in Greater Toronto have become “dangerously detached” from economic fundamentals and are soaring simply on the belief that they will continue to soar, he wrote. “The market is far too hot for comfort.” BNN:

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