- Golem and Komodo lead the market cap top hundred with (% and
. 5% gains respectively. - Small-caps fared well on Wednesday, with five of market’s eleven top gainsers coming from below th place.
- Alt-season impending? Too soon to say.
Small-cap altcoins are on the charge, as Komodo (KMD) and Golem (GNT) exceeded 42% growth leading into the morning.
Five out of the eleven top gainers in the market cap top hundred were ranked below 633 th place on Wednesday. But are Komodo and Golem’s gains the start of a new alt season? Or are the morning’s pumps an example of the market seeking equilibrium after a two year descent?
Komodo (KMD) Gains . 5% Overnight
Komodo gained . 5% leading into Wednesday morning, as the KMD coin price jumped from $ 0. up to $ 0. .
That was enough to send Komodo up among the market cap top fifty, where it’s currently valued at $ million.
CoinMarketCap reports a trade influx of 633% overnight, with daily volume jumping from $ 2.3 to $ 7.4 million.
If we look at the same figures with wash trading removed, we see Komodo processed around $ 0.5 million worth of trades on the day. That’s up 89% from yesterday, according to the crypto data collectors at Nomics .
Golem (GNT) Surges %
Golem’s surge peaked at 1pm (UTC time) on Wednesday, as the coin price climbed from $ 0. up to $ 0. .
That marked 66% growth for Golem, returning it to the market cap top hundred, where it currently sits in nd place. CoinMarketCap reports daily volume jumping from $ 1.1 to $ (million – a % increase . Again, a more conservative estimate from Nomics The bulk of Golem’s volume came from Binance alone on the day. Just over $ 3.6 million passed through Binance’s GNT / BTC pair. What’s Behind the Pumps?
On Wednesday morning the
Meanwhile the number of issues closed on the site nearly doubled over the course of the previous quarter. The total number of Github commits jumped from 1 per month in October, to 53 per month in December.
The Golem team was also active in the past hours, engaging with community members on a Reddit AMA
.
Neither coin can point to an obvious catalyst for the morning’s pump. And the fact that the market’s most prominent gainers were small-caps isn’t necessarily the sign of an incoming alt season.
Disclaimer: The above should not be considered trading advice from CCN.com.
This article was edited by Sam Bourgi . .
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