The crypto market is off to a quick start on Monday.
A sudden surge brought the overall market cap up more than 4%, rising from $104.4 billion to $108.9 billion, according to CoinMarketCap at time of publishing.
EOS is the biggest gainer, rising more than 11%. Here’s a look at the top 15 coins by market cap.
The surprise spike caught many off guard, including eToro’s crypto analyst Mati Greenspan.
According to the senior analyst, a correlation with a surge in USD volumes could indicate new money is coming into the market.
Cryptocompare showing a surge in USD volumes at the time of the spike. Very similar to what we've seen in previous surges. Could mean fresh money coming in. pic.twitter.com/FJW3WBbGhd
— Mati Greenspan [tweets are not trading advice] (@MatiGreenspan) December 17, 2018
Until this morning, the crypto markets had traded sideways since Friday, reaching a low of $100.4 billion in total market cap on Saturday.