Bitcoin continues to lead the Crypto-market.
As the Coin360 data shows, the top currency is an island of green numbers, while most of the major alternative cryptocurrencies are struggling to maintain a positive momentum.
Bitcoin (BTC) is trading around $ 7,398, rising a fraction of a percent during the 24-hour period at the close of this edition. The leading cryptocurrency has been trading sideways since the first hours of operations on July 18, after an impressive increase on July 16 that accelerated even further on July 17.
Weekly and monthly earnings of Bitcoin are in positive territory, at around half percent and 20 percent respectively, according to data from CoinMarketCap.
Reflecting on the strong rally in Bitcoin this week, Arthur Hayes, CEO of BitMEX cryptobolsa, said the current rebound may give way to a price of $ 5,000 before reaching $ 50,000 in 2018.
The Ethereum (ETH) price performance has been less floating, and the maximum price of the alternative cryptocurrency is around $ 453 per hour, dropping 2.6 percent on the day. After rising as high as $ 510 on July 18, the asset began to experience a gradual decline.
While recent growth has ensured a positive weekly percentage gain of around 5 percent, Ethereum’s monthly performance is just over 3 percent in negative terms, according to data from CoinMarketCap.
In the CoinMarketCap listings, all 10 major currencies by market capitalization except Bitcoin and the stable currency Tether (USDT) are recording losses of between 2 and 5 percent during the 24-hour period until the close of this edition.
Ripple (XRP) has fallen approximately 4 percent on the day, trading at $ 0.46 by the close of this edition, according to CoinMarketCap. Cardano (ADA) has lost about 4 percent and is trading around $ 0.17 in the last 24 hours until the close of this edition.
Of the 20 main currencies classified in CoinMarketCap, Dash (DASH) has experienced a solid growth of 5 percent in a period of 24 hours, trading just over $ 274 at the close of this edition. The alternative cryptocurrency soared to $ 20 in an hour today to reach $ 282, before falling slightly to its current valuation.
The total market capitalization of all cryptocurrencies is now around $ 283 billion at the close of this edition, below its intra-weekly maximum of approximately $ 299 billion.
Former Wall Street founder and merchant bank founder Mike Novogratz said he expects the massive adoption of crypts and blockchain to take “five to six years” to materialize.
On the other hand, the average daily volume of futures (ADV) of Bitcoin (BTC) in the Mercantile Exchange of Chicago (CME) increased by 93% in the second quarter with respect to the first quarter of 2018, according to the company revealed in a tweet the 20th of July. CME also stated that the open interest rate (OI) or the number of contracts opened in Bitcoin futures has exceeded 2,400, which represented an increase of 58% in the first quarter.
One of the largest global exchanges, CME Group launched the trading of Bitcoin futures on December 17, following the launch of US BTC futures, on December 10. of the Chicago Board Options Exchange (CBOE), the largest exchange of options
In May, the Federal Reserve Bank of San Francisco published an Economic Letter in which it alleged that the fall in the price of Bitcoin after the record high of $ 20,000 in December was the result of the introduction of Bitcoin futures. The Federal Reserve said that “the rapid rise and the subsequent price fall” after the launch of the BTC futures trading “does not seem to be a coincidence”.
Earlier this month, the world’s largest private exchange trader (ETF), BlackRock, announced that it is forming a working group to consider whether the company should invest in Bitcoin futures. Consider Bitcoin futures represents a 180-degree turnaround for BlackRock, which has previously been critical of cryptocurrencies.
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