CV Market Watch™: Weekly Crypto Trading Overview (June 7-14, 2019)
© Reuters. CV Market Watch™: Weekly Crypto Trading Overview (June 7-14, 2019)
(BTC) recovered from the crash under $8,000, once again with a dramatic appreciation that observers linked to a sudden spike in Bitfinex activity, coinciding with new Tether (USDT) issues.
Bitcoin (BTC) recovered to $8,298.83, growing by around 4% from last week’s lows. The price moves of BTC once again consist of rapid crashes, stagnant sideway movements and periodic rapid recovery. Trading inched up to around $19 billion’s equivalent in 24 hours.
The share of Tether (USDT) trading remains high at around 73% of BTC activity. More USDT printings happened in the past week, potentially injecting activity into BTC, as the total supply of the stablecoin is now above 3.4 billion, with additional coins on other networks.
(ETH) stagnated at $255.96, after competing for liquidity with (LTC). Still, ETH remains one of the most liquid tokens, with trading volumes above $8.6 billion’s equivalent.
(XRP) retreated to $0.39, losing about 4% of its price after BTC once again re-established its dominance. XRP also fel…
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