Daily Market Update - September 18, 2020

BTC is currently trading at $11,005, up +1.46% on yesterday at the time of writing.

Total Market Cap $356 BN (+2.30%)

24 Hour Volume $92.7 BN (+10.52%)

Notable Movers Uniswap (UNI) (+86.79%)

BTC Dominance 57.2% (-0.69%)

BTC Price $11,005 (+1.46%)

This week has been quite volatile with the DeFi market slowing down considerably last week and the airdrop of UNI tokens (to users that previously staked some of their tokens on the Uniswap DEX), leading to massive spikes in ETH gas fees (seen as high as 900 gwei +) and pushing up $ETH prices along with it.

$ETH currently at $387 on overbought RSI levels up 6% over the past week. $ETH has seen some large volatility with its traded range this week has been within $39 or a 10% spread. Physical traded volume at $14.7B and at $43B market cap

The digital asset market cap increased 7 out of the last 10 days, increasing from 14% from $293B after the sell off to $335B currently. Market cap reached its highest at $380B on a couple of occasions during last month.

$BTC up 6% over the past seven traded days, pushing towards $11,000 levels where it traded for the entirety of last month. It’s possible to see $BTC break above 11K onwards if the community decides to reconsolidate its position from Alts to $BTC. We’ve seen $BTC dominance slow, but has inched back up to 57.3% from 55% at the peak of the initial DeFi boom.

Alts and DeFi watch:

  • $DOT the best performing top 10 digital asset by market cap with 18% movement over the past 7 days, currently trading at 5.3 levels on slightly overbought levels and upper Bollinger bands

  • $LINK on the other hand the weakest performer down 10% over the past week, currently at its lowest point and at half of its ATH at 20 achieved on Aug 16th. Currently trading at 10.87 levels on oversold RSI levels.

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