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Asian Altcoin Trading Roundup: Icon and Siacoin Boosted by Binance


FOMO Moments

Current performing altcoins are Icon, Siacoin, Cardano and Bytom.

Today marks the fifth day of market decline. Since the rout started on Sunday over $70 billion has been wiped off the crypto markets. Total capitalization plunged below $300 billion and the down trend has steepened. Bitcoin is still down on the day but the momentum has slowed and it has leveled out at just over $6,500. Ethereum has also been battered and is still falling, down 2% on the day to around $490, its lowest level since the lows of early April. Altcoins are generally bearish after suffering heavy losses this week. A couple are bucking the trend during Asian trading this morning and those coins are Icon and Siacoin.

Coinmarketcap is currently reporting an 11% gain for South Korean crypto Icon. Currently trading at $2.12 ICX is up from $1.89 this time yesterday. Over the past seven days though this altcoin, along with all of the others, has suffered heavy losses falling 22% from $2.70 this time last week. Monthly losses are even greater with Icon plunging 46% from $3.85 this time last month. Against Bitcoin Icon is up 11% on the day to 32200 satoshis from 28800 sats this time yesterday. On the week ICX has lost 7.5% against BTC falling from 36800 satoshis this time last Thursday.

Current momentum has been driven by the Binance announcement on Icon mainnet token swap support and a new ICX/USDT listing on the exchange.

Binance has also boosted Siacoin which is up 10.7% with the news of that being listed;

Unsurprisingly Binance is the top exchange for Icon trade with over 70% of the total. Trade volume has jumped significantly in the past 24 hours from $22 million to $71 million in daily trade. ICX currently has a market cap of $810 million positioning it at 23rd in the crypto charts. The team are very active with partnerships and progress so this altcoin is expected to recover well.

Total market capitalization has fallen for the fifth consecutive day. The fall is slowing however and only 1.6% has been lost over the past 24 hours leaving it at $279 billion. There are very few altcoins showing recovery today aside from Icon and Siacoin. Those that are include Cardano up 4.5% on a Bithumb listing, and Bytom up 7.5%.

More on Icon can be found here: https://www.icon.foundation/

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 possible fundamentals.

The post Asian Altcoin Trading Roundup: Icon and Siacoin Boosted by Binance appeared first on NewsBTC.




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