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ETH, IOTA, Tron (TRX) Manage short-term recoveries
While Bitcoin and other cryptocurrencies have declined, some altcoins have been able to enjoy the recoveries in the middle of the month. IOTA, ETH and TRX have successfully resisted the gravitational pull that has hit the entire market. While it was not as expected, he allowed them to conclude the year on a positive note. These three coins started the month of December on a downward slope but recorded recoveries in the middle of the month that allowed them to break even in the third week of December. After that, they have increased considerably. This happened at a time when BTC fell against the USD.
Within a period of 30 days, ETH increased by 20% and was placed to end the month at $ 136. In fact, ETH is approaching XRP trying to recover its position as a second cryptocurrency by market capitalization. It is possible that the price correction was influenced by the short contraction of the margin trading platform in the cryptocurrency market. Although Ethereum (ETH) is still trading below 90% of its all-time high, it showed significant gains last month.
Meanwhile, tron went higher towards $ 0.0193 indicating a 33% increase from the November end. This consolidated its position as a tenth cryptocurrency by market capitalization. IOTA has increased by 25% within a period of 30 days. It is firmly classified in 12th position.
The Bitcoin price (BTC) loses ground
The ETH, TRX and MIOTA rallies were surprising because they occurred at a time when BTC was losing ground against the dollar. The general direction of the market was in the south while these coins were facing north. In a period of 30 days, BTC decreased by 5%. Imagine experiencing a drop in prices at a time when the market was expecting the launch of Bakkt, a criptovalute startup due to the Intercontinental Exchange. Bakkt was expected to list the first Bitcoin futures to be physically settled. The launch has been moved to 2019.
While the price of BTC has lost ground against the USD, Bitcoin's dominance in the cryptocurrency market has remained above 50% for the whole of December, although it has declined slightly during the month. XRP, did better than its withdrawal of only 3.3%. Bitcoin Cash (BCH) fell 9.45% while EOS decreased 12.21% over the same 30-day period. Stellar Lumens (XLM) fell sharply by 30.26% and the entire market lost about $ 8.4 billion globally within 30 days. CoinMarketCapital showed that market capitalization was down 6.2% to $ 128 billion at the end of December.
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