CV Market Watch™: Weekly Crypto Trading Overview (August 16-23, 2019)
(BTC) crashed though the $10,000 level briefly, but evaded once again the scenario of sinking to a lower valuation. Altcoins stagnated and slid further, still unable to recover ground since the recent 30% downward correction.
Bitcoin (BTC) managed to recover after another mid-week slump, to trade at $10,182.45 on Friday. BTC remained the second most-active asset, once again displaced by Tether (USDT), which overtook most of the market activity.
The share of Tether (USDT) shrank to about 65%, but the asset remains extremely important for BTC. The BTC rally lasted while USDT constantly increased its supply. Now that the USDT supply has stopped growing, BTC has stagnated around the $10,000 level. BTC volumes shrank to $15 billion’s equivalent ahead of the weekend. The market cap dominance for BTC remains around 68.4%.
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