Bitcoin (BTC) rallied early this week, extending its gains above $5,600. But the spike was short-lived, as the markets showed a negative reaction to the news of potential losses for the Bitfinex exchange.
Bitfinex Points to $850 Million Locked Away, Denies Losses |
During the past week, the share of BTC/USDT trading was above 70% of all activity, pointing to the overwhelming influence of the stablecoin. BTC increased its market dominance to 54.7% of the entire market cap for all digital assets. Trading volumes remained high, although Friday saw significant outflows as traders locked funds into dollar-pegged stablecoins.
Tether (USDT) Prints New Coins as Treasury Runs Out of Funds |