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CV Market Watch™: Weekly Crypto Trading Overview (April 19-26, 2019)

Published 04/26/2019, 11:40 AM
Updated 04/26/2019, 01:02 PM
© Reuters.   CV Market Watch™: Weekly Crypto Trading Overview (April 19-26, 2019)
BTC/USDT
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BTC/USD
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ETH/USD
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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

Bitcoin (BTC) traded around $5,277.78 on Friday afternoon, continuing on a slow sinking trend. This week, BTC reached peaks at above $5,642, but retreated as news surfaced that Bitfinex may have hidden losses, which are potentially affecting the Tether (USDT) market.

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

Ethereum (ETH) is on a downward...

This article appeared first on Cryptovest

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