A week in the markets: 27.08.18 - EOS whale buys a million

It’s a week of stabilization, where Tether has continued pumping more token releases into the market to calm the dips for Bitcoin and in general the bulls and bears have been equally matched in their attempts to tip the balance.

There was the news of the nine ETF applications being refused by SEC, but later in the week, they also said they would be reviewing decisions. We see some extreme trading patterns in the market cap, with swings of up to $10 billion within very short periods illustrating the current underlying volatility. After the big swings, the market cap is up by nearly 4% after a good weekend.

Bitcoin is still, in general, orchestrating the overall mood of the market, which is also reflected in its market dominance climbing to 53%. If you take a look at the last month, you can see it has been clawing back points. There is talk from commentators at the moment that we are at a tipping point, that the short-term high could be between the 7-8k if the bulls break through or the low, as far as 4.5k.

Ethereum not having as volatile a week, but still another decline across the week, similar to last week, of nearly 7% taking the current price to just under $280.

XRP, seeing those big swings at the first part of the week wipe out recent gains, and seeing the week out on a drop of 4% back down to 32 cents.

Bitcoin Cash seeing lots of internal conflict over Craig Wright’s threats to hard fork the currency dampening the investors’ spirits, including the main BCH holder Bitmain (who were having troubles of their own with their IPO and reports that their finances weren’t so rosy). This impacts on the coin, giving it a 6% dent on the seven-day price.

EOS, depressed in general across the week, but seeing a strange short-term pump in the last 24 hours taking them from below $5 and up 25 cents in hours, to limit their weekly decline to just under a percent and a finishing price of $5.18.

IOTA managing to stage a recovery after their recent crushing slide and pulling back over 12% in the week to around 60 cents.

Across the board, pretty well divided equally between wins and losses for the week for the top 100 coins.

Let's take a look at the big gains of the week:

• Nano: jumped 88% in value for the week, which seems to be related to the small cryptocurrency exchange linked to the Nano team, Nanex, delisting Haven after their wallet was hacked on the exchange. It set off a run on Nano, taking it to $3.40.
• Substratum: bouncing back after recent losses across August and having a very good run, increasing in value by 63%.
• Waltonchain: showing a return to strength with gains of 63%.
• Wanchain: also showing a return to strength with gains of 53%.
• Icon: coming in close behind with a massive recovery of 37% in the week.

Who got mauled by the bears in the last seven days?

• MOAC: the biggest loss but only 17%.
• Kin: continued a slide that has been spanning all of August, taking it down another 16%.

In the next seven days, will Bitcoin call the shots for the whole market with its Tether support or are we seeing some of the stronger altcoins breaking free?