Bitcoin
BTC$43 085.96

-1.06%

Ethereum
ETH$2 995.89

-2.88%

Cardano
ADA$2.19

-2.78%

Tether
USDT$1.000508

-0.01%

Binance Coin
BNB$341.32

-2.13%

XRP
XRP$0.937804

-0.90%

Bitcoin held an important level, but not the interest of investors


11 Sep 2020   #Bitcoin

The crypto market survived the recent blow and refrained from a full-scale sale. Bitcoin is trying to bounce back from $10K, although it is lagging behind the overall market recovery. Since late May, the Bitcoin Domination Index has fallen by nearly 12%. The total capitalization of the crypto market increased by $78 billion over the same period. Glassnode noted that despite bitcoin’s decline from $12K to $10K, the number of holders (several incoming transactions without withdrawal of funds) increased by 2%. It is believed that these investors came to the market with long-term goals.

The leading altcoin Ethereum (ETH) demonstrates much higher growth. Despite the increase of transaction fees, which makes it inaccessible for regular users, the project attracts a lot of attention and has the potential for further growth, with decentralized financial applications the base of the impulse. Cryptocurrencies are still aiming to create a “superstructure” over the financial system. If Bitcoin were to fail, DeFi tokens will become more flexible and much more similar to the traditional banking sector.

Over time, DeFi cryptocurrencies could squeeze out Bitcoin, but they have a big problem: they are a threat to the financial monopoly of governments and banks. The situation can develop very unpredictably but past events show that regulators control everything, and in the case of significant competition, they can make quick decisions, limiting the capabilities of cryptocurrency.

Stablecoin staking has high potential because it combines 2 important features: a stable token price and a much higher yield than in the traditional banking sector, especially in current times when a deposit can be even taxed without making a profit.

The stability of different countries’ financial systems is perfectly tracked by the Chainalysis Cryptocurrency Adoption Index, which demonstrates that Ukraine, Russia, and Venezuela are the leading cryptocurrency users. Although these countries lag behind in terms of the volume of the largest transactions, their retail users are the most active in the world. The largest transactions still have their roots in the U.S. and China.

CryptoCompare estimates that the volume of crypto derivatives rose 54% in August to more than $700 billion, setting a historic high. Africa is quite predictably showing a large growth in demand for cryptocurrencies. Chainalysis data showed that transfers below $10K, which are attributed to retail investors and small businesses, jumped to more than $300 million in June. The number of monthly transactions exceeded 600k.

Over the next few years, we will be witnessing how emerging economies become the locomotive of crypto development. Since the regulators of these countries are often far from being as fast and experienced as in developed countries, and with a predominantly young population becoming more and more technologically literate, we can expect the development of crypto impulse from these regions of the world.

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 78.4% 36 $43 085.96 -1.06% -0.99% $811 219 237 866 $31 154 347 636
2 Ethereum (ETH) ETH Ethereum predictions 72.8% 51 $2 995.89 -2.88% -0.73% $352 615 203 825 $19 398 346 385
3 Cardano (ADA) ADA Cardano predictions 66.8% 75 $2.19 -2.78% 4.85% $70 222 973 640 $3 116 899 060
4 Tether (USDT) USDT Tether predictions 96% 1 $1.000508 -0.01% 0.06% $68 577 822 872 $71 068 899 614
5 Binance Coin (BNB) BNB Binance Coin predictions 68.8% 65 $341.32 -2.13% -7.03% $57 388 122 424 $1 555 748 368
6 XRP (XRP) XRP XRP predictions 72.8% 49 $0.937804 -0.90% 1.05% $43 811 978 119 $3 027 320 393
7 Solana (SOL) SOL Solana predictions 69.6% 66 $140.97 2.76% 1.92% $41 927 787 826 $2 899 305 540
8 USD Coin (USDC) USDC USD Coin predictions 91.2% 1 $1.000382 0.02% 0.01% $31 131 613 966 $3 198 579 010
9 Polkadot (DOT) DOT Polkadot predictions 68.8% 69 $28.28 -3.69% -2.07% $27 931 334 671 $1 725 163 950
10 Dogecoin (DOGE) DOGE Dogecoin predictions 66.4% 70 $0.203144 -1.88% -4.12% $26 705 464 939 $865 252 649
11 Terra (LUNA) LUNA Terra predictions 67.6% 59 $38.33 7.47% 37.20% $15 331 923 428 $1 698 547 134
12 Avalanche (AVAX) AVAX Avalanche predictions 58.8% 85 $68.09 0.67% 14.92% $14 998 801 484 $1 254 781 240
13 UniSwap (UNI) UNI UniSwap predictions 65.2% 70 $22.95 -6.14% 7.70% $14 034 322 529 $1 164 508 712
14 Binance USD (BUSD) BUSD Binance USD predictions 92% 1 $1.000300 0.02% 0.02% $13 519 244 531 $5 111 421 269
15 Chainlink (LINK) LINK Chainlink predictions 63.6% 70 $23.60 -5.17% -1.55% $10 736 258 209 $1 106 679 987

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