Bitcoin
BTC$42 986.59

0.04%

Ethereum
ETH$3 324.59

0.55%

Binance Coin
BNB$489.67

0.02%

Tether
USDT$1.000479

0.01%

Cardano
ADA$1.49

12.17%

Solana
SOL$144.94

-1.08%

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 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 73.2% 55 $42 986.59 0.04% 2.42% $813 808 197 518 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 66.8% 67 $3 324.59 0.55% 5.33% $396 260 918 145 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 70.8% 52 $489.67 0.02% 11.34% $81 677 749 733 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 96% 1 $1.000479 0.01% 0.04% $78 437 106 160 USDT 7 days price change
5 Cardano (ADA) ADA Cardano predictions 72.8% 52 $1.49 12.17% 27.29% $49 825 219 238 ADA 7 days price change
6 Solana (SOL) SOL Solana predictions 65.6% 76 $144.94 -1.08% 2.74% $45 512 628 460 SOL 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000515 0.13% 0.05% $45 495 216 189 USDC 7 days price change
8 XRP (XRP) XRP XRP predictions 68.8% 58 $0.775800 0.01% 2.97% $36 977 057 118 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 72.8% 59 $86.40 1.25% 17.82% $30 978 610 903 LUNA 7 days price change
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13 Polygon (MATIC) MATIC Polygon predictions 74% 54 $2.43 4.78% 15.12% $17 783 193 803 MATIC 7 days price change
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15 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $0.999092 -0.17% -0.14% $14 434 082 408 BUSD 7 days price change

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