Major crypto currencies declined slightly

February 1, 2019

The main cryptocurrency assets declined slightly during yesterday's trading session. Bitcoin dropped to $ 4,420, Ethereum dropped to $ 105, and the XRP price dropped to support at $ 0.3000.

South Korean FINTECH, BxB, has announced the launch of a new stewlockcoin KRWb, which will be provided with the national currency of Korean Won. The test launch of the token was carried out earlier on the Airswap decentralized platform, and then the steyblecoin, provided with a fiat currency in a one-to-one ratio, was launched on Korean and international exchanges.

It is reported that the company will manage the extraction and burning of KRWb tokens using a smart contract on the ethereum blockchain using a multi-signature and approval of a third-party auditor to complete. Initially, a limited number of KRWb issue partners are planned, who will be responsible for distributing the token to the market and maintaining its liquidity.

According to a new study by Diar, despite the growing interest in the concept of decentralized cryptocurrency exchanges, trading volume at these sites reached a record minimum in dollar terms. The report notes that since June 2017, when such exchanges only began to appear, their total trading volume was 8.9 billion. However, in January of this year, the amount of transactions on decentralized exchanges reached only 49 million. For comparison, this is approximately 10% of the monthly trading volume of only one Binance exchange. Diar also revealed that the trend of decline is also observed in the number of unique users of the sites. Thus, centralized exchanges still dominate the market, despite a significant increase in the number of decentralized cryptocurrency exchanges in 2018.

In our forecast for today's trading, we assume a further decline in the main cryptocurrency. We expect Bitcoin to fall to support levels of 4,400, 4,350 and 4,300 dollars, Ethereum's decline to 100, 98 and 95 dollars, as well as a further drop in the XRP price to 0.3250, 0.3150 and 0.3100.

Cryptocurrency: Ethereum

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