Stay focused on capital flow is a useful way leading to profitable trades. Coinness lists top 10 coins that have the most capital inflow and outflow every 24 hours to give you some perception of institutional investors and rich accounts.
Coinness 24-Hour Market Perception May 30: Top 10 Chase and Dump
Top 10 capital inflows: BTC, ETH, TRX, BCH, KNC, ABT, TRIO, OCN, ZIP and XRP.
Top 10 capital outflows: EOS, MITH, ELF, CTXC, NAS, BNB, ARN, CMT, ICX and LTC.
Coinness Market Index indicates a strong rebound in the crypto market. The Top 20 cryptocurrencies by market value are all rising. By press time, the global cryptocurrency capital climbs to $331.3 billion. The 24-hour global trading volume marks $19 billion.
BTC ended its capital outflow and reversed to an inflow with $309.12 million in the last 24 hours. BTC has been fluctuating above $7,100 since May 29 and jumped up by 5.82% to $7,400 from 7:00 a.m. (UTC-4) with a direct momentum of a large amount of capital inflow, well proving what we’ve predicted as a “rebounce need” on May 29. Technical indicators show that BTC has moved back to the upper 78.6% Fibonacci retracement (near $7,200) and the Bollinger middle band.
Bullish news finally come around. An account (1KAt6STtisWMMVo5XGdos9P7DBNNsFfjx7) has been buying BTC continuously since March 25, worth 700 million USD and counted up to 94K bitcoins by May 28, 20K of which were from Huobi.China and Haobtc while 67K probably from some Chinese exchange as well. This may imply that a large Chinese entity, who has become the sixth richest wallet in the BTC network, is conducting serious bargin hunting.
ETH, TRX and BCH move up with the broad market, each gaining an upper 10% increase in a 24-hour period. Those who read Chase and Dump regularly must have noticed that there is an on-going buying-in of ETH, TRX and BCH for over 20 days.
EOS capitals are still feeling out of the market, recording a $35.68 million 24-hour capital outflow. EOS dropped from $11.5 to $10.7 after the disclosure of its network vulnerabilities by the Chinese Internet security server 360.
With the EOS team explaining that the bugs are not specific to the EOS network but result from the smart contract language WebAssembly, EOS witnessed a quick jump to upper $12 in the early morning yesterday.
In order to protect the EOS market from a lower bottoming, the EOS team might have transferred 270,241.1576817521 ETH from the EOS crowdfund address deliberately. Until now, the EOS crowdfund address has seen 706,980,9.361082628 ETH transferred out in total.
Pulled up by the broad market, MITH, ELF, CTXC, ARN, CMT, NAS and ICX all see significant increase regardless of a large amount of capital outflow.
Minor coins such as OCN, ZIP and TRIO copy the uptrend of BTC, and spiked by over 20% in one day. OCN has been on Bittrex and Upbit now.
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