CV Market Watch™: Weekly Crypto Trading Overview (June 21-28, 2019)
(BTC) once again proved its pattern was to reach peak prices for a very short trading period, only to crash in an episode of dizzying volatility. BTC climbed to $13,800 within a day, only to crash to $10,500 on the same day.
Bitcoin (BTC) recovered to $11,888.36, up from lows around $10,500. BTC is now in extremely uncertain waters, with the possibility to either start rallying or to retreat to lower valuations.
The share of Tether (USDT) trading this week hovered around 58%, though each coin saw a robust turnover of above 10 times in 24 hours. BTC volumes peaked late on Thursday at $45 billion’s equivalent, an all-time record far outpacing any previously seen activity. Ahead of the weekend, volumes still reached $38 billion’s equivalent in 24 hours.
(ETH) managed to climb above the $300 mark, boosted by 1 billion USDT printed on the Ethereum network. Still, ETH retreated during the Thursday sell-off, ending the week with a small gain of 6.5% to $306.11. ETH became the only altcoin with noticeable weekly gains after the crash wiped out most altcoins.
(XRP) attempted to stay in the spotlight by announcing a partnership aiming at compliance with the …
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