Bitcoin Dominates 70% of the Market and Leaves Other Altcoins Crash
UNITED STATES – Few days after exchanging sideways, the price of Bitcoin (BTC) heads north after trading at $7,100. It even went over to $7,650 on Bitstamp.
There was a boost on Bitcoin’s trade price as it’s exchanging at an estimate of $7,100. At present, the price is at $7,500, yet before it retraced to this amount, it reached over $7,650 on Bitstamp.
Bitcoin had a 4.6% increase as of the moment. What’s interesting about this cryptocurrency is that it dominates the crypto market. Presently, the exchange price stands at 68.9%. Hence, it’s noticeable that it had a more significant part on the market portion as altcoins brawl to have any gains.
Ethereum, on the other hand, broke the level at $130, and it’s not at its $132-price. There was an increase of 2.7% counter to the dollar. However, this cryptocurrency drops its 2.24% value to 0.0176 SAT after comparing it to Bitcoin. Ripple is 1% more over USD, yet the XRP/BTC price is down at 3.35%.
Binance coin is exchanging at $13.77, which is at 0.0018 SAT. It means that 2.34% USD upsurge while 2.59% BTC fall.
Tezos is considered one of the top performers over the previous weeks in the cryptocurrency market. However, this digital asset is down against BTC and USD, which is 5.22% and 0.71%, respectively.
The partnership of Binance and FTX Exchange is also one of the biggest crypto headlines in the market. Binance follows the footsteps of BitMEX when it comes it Futures Trading after making a tactical investment in the famous digital asset derivatives exchange FTX. It raised the interrogation if the partnership is a pace headed for unsettling the control on the Futures exchange of OKEx, Huobi, and BitMEX.
Another famous crypto exchange called Poloniex allows users to register with an email address and a password only for level-one accounts. Despite having new guidelines and limitations from Europe and the United States or the US, the community was thinking if it’s going in the right way.
The economic and political tension in Hong Kong and India highlights the benefits of bitcoins. It was reported that Indian banks would begin declining customers based on religion, while activists in Hong Kong are staying away from HSBC because of the closures of their bank account. The decentralized nature of Bitcoin can be utilized by everyone from everywhere, which is a highlighted advantage for the community as well.
Moving over to other losers and gainers in the crypto market, SLV is now at 9% to $0.72 over the dollar, along with 4% against Bitcoin to 9.560 SAT. Siacoin reached $0.00145 over the dollar, and it’s at 19 SAT over Bitcoin. On the other hand, Matic Network lost 15% over the USD, and it’s not exchanging at $0.016.