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CV Market Watch™: Weekly Crypto Trading Overview (June 28- July 5, 2019)

Published 07/05/2019, 09:47 AM
Updated 07/05/2019, 11:01 AM
CV Market Watch™: Weekly Crypto Trading Overview (June 28- July 5, 2019)
BTC/USD
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XRP/USD
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ETH/USD
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Bitcoin (BTC) had a harsh week with lots of questions, as the price tanked as low as $9,700 on a mass sell-off on Monday. BTC once again had a volatile weekend where it spiked above $12,000, only to lose support. Later, BTC climbed back above the $11,000 tier.



Bitcoin (BTC) on Verge of Breaking Mining Record

Bitcoin (BTC) retreated to $11,300 on Friday, down from the $11,700 level reached late on Thursday. BTC remained volatile but kept most of the gains made in June.

The share of Tether (USDT) remained around the 60% mark, and most of BTC trades were concentrated on Asian exchanges. Trading volumes hovered around $25 billion’s equivalent in 24 hours. The leading asset is down 3.2% this week, though its dominance over the market has grown to 62.3%.



Binance Crypto Exchange Switches to Ethereum-Based Tether (USDT)

Ethereum (ETH) broke below the $300 level, reaching a weekly low at $272.60. On Friday, the asset held at $293.60, losing around 3% this week. Possibly, ETH could get a boost from the increasing supply of Ethereum-based USDT, which has grown to 1.2 billion coins. More stablecoins may add extra liquidity to the ETH markets and boost trading and price action.

XRP (XRP) crashed by 7% this week to $0.38, failing to make a difference as the asset moves on i...

This article appeared first on Cryptovest

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