cryptocurrency market cap up 10%

It would appear the bearish momentum affecting top crypto markets is not relenting this Sunday. With most tokens, assets, and currencies in the red, there is very little to get even remotely excited about at this time. Further down the line, some of the alternative markets try to move up again. The ABBC Coin price is, after facing a big onslaught, reclaiming some of its lost value without too many problems.

ABBC Coin Price Momentum Still Makes no Sense

When one looks up the definition of a potential pump-and-dump scheme, the ABBC Coin chart could serve as rather interesting educational material. The price momentum of this altcoin is very erratic, but not necessarily in a  good way. After facing major losses earlier the week, the project has regained over 20% of its value today. That is a very unusual turn of events, primarily because there is absolutely no reason to note any gains right now.

To be more specific, the ABBC Coin price rose by over 22% in USD and BTC value alike today. That in itself is rather remarkable for many different reasons. First of all, the top markets bearish, which also affects alternative markets in a negative manner. Secondly, there is no recent ABBC-related news which would get traders excited. Even so, its trading volume sits at $41,466m which is over one-third of its current market cap.

No one will deny there is one potentially promising development for ABBC Coin this weekend. Unlike what most people would think, it has nothing to do with the ecosystem, active developments, or partnerships. Instead, FCoin decided to begin trading ABBC through BTC and USDT pairs. While that can always trigger some price excitement, a 20% gain is not the normal outcome of just an exchange listing.

To make this most recent price change even more unusual, ABBC was the biggest loser in yesterday’s market momentum. When a market loses over 11% on one day and gains 22% the next day, it is evident the back-and-forth trading of this coin may be getting out of hand a bit. TopBTC is the main provider of trading volume, alongside RightBTC. It remains to be seen how much of that volume on either exchange is “real”, which applies to all trading pairs and not just ABBC.

Today, however, it seems a lot of markets try to rise in value on the hourly chart. ABBC Coin is making a strong case here, as are some other potentially interesting projects. Chasing the top and pump of any of these currencies is ill-advised, as that will usually result in steep financial losses when people least expect it.

While it is only normal this current ABBC Coin momentum gets speculators excited, the longevity of this most recent bull run remains to be determined. If the previous attempts are any real indicator, most of this momentum will ebb away fairly soon. However, there is also a chance the gains will pile up for a few more hours to come. This market is incredibly odd in every single way, thus caution is more than warranted.



Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com


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