THETA token holders were the big winners this weekend, as exciting news plus an imminent token swap helped the price surge 53% on Sunday. The project will be undergoing a token swap on March 15 as part of them launching their mainnet, which was augmented by the news on Sunday that the project had successfully deployed the Theta protocol into an Android-based TV box, a huge step for the company.
XLM enjoyed a late 9% jump to seal a recent spell of positive action, spurred on by a tie in between German financial media house Börsenmedien AG and micro-payments processor SatoshiPay, who use the Stellar blockchain. On the opposite end of things, QKC had been garnering attention due to a healthy-looking chart on the back of an imminent mainnet, but an alleged delay eliminated 24 hours’ worth of gains Sunday.
Market Continues to Offer Seeds of Hope
The rest of the market enjoyed a lazy weekend with very little price action, except for the retracement of previously pumped coins such as RVN. BTC is sitting around the $3,900 level without any real indication of which way we could go. We have seen plenty of $3,600-$3,900 ranging, so it wouldn’t be a surprise to see us drop back to those levels again, although staying in this range for a longer period could signal a new support level is being built before a push-up.
24-hour volume across the markets is still looking good at around $31 billion, levels we have not seen for some ten months when BTC was pushing from $7,000 back up to $10,000, as we can see from the below chart:
This increase in volume, combined with the recent resurgence in ICOs and the pumping of coins like ENJ and THETA, has increased the sense of cautious optimism in the space:
— crypto scalper (@scalper_crypto) March 10, 2019
Bitcoin kinda looks like it’s gonna go up alot but still manage to shake everyone out while it does
— loomdart (@loomdart) March 10, 2019
$BTC reversal pattern?
This $3k bottom looks awfully symmetrical to the $20k top…
Just saying pic.twitter.com/sLfKQcsTZI
— Bitcoin ?ack (@BTC_JackSparrow) January 29, 2019
Not everyone is taking the bait however, and it’s clear that the scars of the bear market linger long:
— ฿ (@Crypto_Brahma) March 11, 2019
WAN and BNB Look Interesting
WAN is another token that gained more attention over the weekend, thanks to it seeing some of the biggest volume surges since Binance listed it in March 2018. This suggests a sustained breakout could be imminent following its 36% increase in the couple of days or so. BNB is also a token worth watching, as it cools down following the Fetch.ai ICO. With the Celer ICO on the way on March 19, another run is not out of the question, so some short terms gains could be on the cards there too.
Mondays tend to be unpredictable and sometimes violent, so let’s wait and see where we are tomorrow!