03 Feb Morning Asian trading roundup: the leading altcoin is Dentacoin
The carnage on the crypto markets has continued this morning. Asian trading is bleak and everyone is selling, it looks like the mass media is winning the battle and reveling in a falling cryptocurrencies. Or it could be a prelude to Chinese New Year, markets fall every year during these months though this time around it is a harder fall from a higher height. Looking through the charts for a winning altcoin is not easy when everything is red.
One of the few altcoins enjoying some upward motion today is Dentacoin. DCN has had a little revival over the past 24 hours and is trading 23% higher than the same time yesterday. The dentistry based token is extremely undervalued at the moment, it shot to an all-time high of $0.0082 on January 8 which admittedly doesn’t sound that great. DCN has since pulled back over 80% to $0.0011 where it trades today however the movement over the past 24 hours has been upwards when all other coins have plummeted. The seven day picture isn’t as pretty, DCN has lost 30% since this time last week.
The inherent problem with Dentacoin is that there are 2 trillion of them in circulation so prices are never going to be higher than fractions of a cent. Continued partnership announcements have caused the recent uptake in interest for this toothy contender.
Following yesterday’s pattern DigixDAO is still performing well, up 24% on the day. The gold based token is ascending yet again today trading at over $400 from $350 yesterday. Stable coins are likely to do well during times of panic as gold does well when stock markets fall. DGD reached an all time high of $451 a couple of hours ago and the momentum is still strong with this token.
As Bitcoin barrels towards the crucial $8,000 mark it is pulling nearly all of its siblings down with it. For those that are still in panic mode, zoom the charts out to six months and smile!
More on Dentacoin can be found here: https://dentacoin.com/
FOMO Moments is a new section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.
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