CV Market Watch™: Weekly Trading Overview (5-12 January)

The corrections for altcoins may have come to an end, and buyers are returning.

Altcoins are still center stage, in turns performing with staggering overnight climbs and deep corrections. This week, many coins retreated by more than 30% from their peak values, but as the days progressed, buyers returned to previously overheated assets.

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Bitcoin (BTC) hovers around its new, lowered dominance levels of around 33.6% of the total market cap of all cryptocurrencies. While far from the peak, BTC has kept quite a bit of gains, standing at $14,115.50. BTC has still slid by 12% in the past seven days. 

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Trading volumes slid to $14 billion, from last week's values around $21 billion.

Ethereum (ETH) showed renewed strength, climbing to above $1,300 before retreating. ETH reversed the "flippening" as Ripple (XRP) slid from its peak prices. ETH added more than 20% this week, turning out to be the winning proposition in the top 10 of cryptocurrencies. ETH traded at $1,236.36 this Friday.

Ripple (XRP) sank toward $1.70, but recovered somewhat to finish the last seven-day period around $2.05, still down more than 35% this week. Last day's recovery took XPR 17% higher, but still far from the record levels, as the initial boost also saw a rise in skepticism about XRP. The digital asset also suffered the exclusion of Korean trading. On Bithumb, XRP trades at $2.68.

Bitcoin Cash (BCH, BCC) remained flat this week, moving up 3% net. BCH traded at $2,561.85. The performance of BCH combines flat trading with the occasional pump. BCH was the first asset to see its price settled without the inclusion of Korean exchanges, before CoinMarketCap changed the calculations for all coins. 

Cardano (ADA) sank more than 27% net this week, to $0.75, despite a brief recovery on Friday, up 7%. ADA could not keep confidently above the $1 level. 

Litecoin (LTC) almost returned to its habitual position in the charts, as hotter projects sank and left the top 10, becoming a short-lived sensation. LTC was stable around $239.91, down around 45 this week. The coin has seen more subdued trading as buyers moved to other digital assets.

NEM (XEM) had a mixed performance this week, finally settling around $1.40, down 14% for the period. XEM had shorter runs compared to other coin pumps, as it is mostly supported by Yen currency pairings.

Stellar (XLM) moved up two positions in the top 10, up 33% in the past day, but still losing a net of 5.45% this week to a price of $0.66. XLM is also having a slower growth and some corrections. 

IOTA (MIOTA) is giving buyers a sign it may stop the slide, standing at $3.59, with a loss of 9% in the past seven days. The price showed some attempts at bouncing back up.

EOS (EOS), which had a long-drawn slump in the past weeks, caught the tail of the top 10 of coins after booming this week. EOS reached $14.52, up 35% in the last seven days, and adding 38% in the past 24 hours on record volumes.

DASH (DASH) stabilized, at $1,052.80. The coin is still down 14% this week, as it left the spotlight for a while, displaced by hotter assets.

NEO (NEO) moved to a whole new price range, rising to $123 and adding a net of 24% this week in reversal to the market's trend.

TRON (TRX) is becoming more and more a cautionary tale of an overheating asset, as it is down more than 47% this week, to $0.10. The coin is now 50% away from its peak prices, showing how short-lived the hype was. Still, TRX has kept phenomenal gains since it moved up from sub-penny prices.

Monero (XMR) held at $378, down 4% this week as other projects stole the spotlight. Still, XMR is one of the most successful anonymous coins, with increasing usability.

The Surprise Movers

While the top 10 coins are falling into more familiar constellations, other projects are roaring forward. The most curious ones are KuCoin Shares (KCS), $20.03, up 178% this week, and Binance Coin (BNB), $21.43, up 77% this week. 

The assets are related to new experimental exchanges. Their role is to ensure trading liquidity, and the spiking of the coins underlines the heightened demand for exchange services. 

The weekly market overview is a temporary condition of the market. Last week saw a shakedown on talks of Korea curbing crypto trading. The prices soon recovered and moved up again, showing the climbing trend of 2018 remained robust.