Weekly Trading Overview (16-23 March) By Cryptovest


CV Market Watch™: Weekly Trading Overview (16-23 March)

had a week of recovery, but still saw its price slide sharply on negative news of potential sanctions against the Binance exchange.

Bitcoin (BTC) slid toward to $8,484.22, down around 3% in the past day, but with a thin net gain of 2.4% in the past week.

Trading volumes remained around $5 billion, similar to the previous week, and now trading interest shows the same gradual slide as the prices of both BTC and altcoins. Bitcoin’s dominance widened to 44.2%, continuing to recover as some altcoins crash. Tether trading got a boost from a new tranche of 300 million tokens, and now makes up more than 14.6% of the total market activity. At this point, Bitcoin looks like it enjoys a baseline level of activity, but still way below the peak hype levels that saw trading volumes in excess of $22 billion in 24 hours, along with a price near $20,000.

Ethereum (ETH) at one point sank below $500, and now hovers around $520.58, down more than 14% for the past weekly period. The token is possibly depressed as an effect of the EOS project selling its ICO proceeds on the open market.

(XRP) remained at $0.68, down a net 8% this week, and one of the losers this week among the top 10 coins. The asset has also entered a long gradual slide as the enthusiasm remained low.

(BCH, BCC) is up a thin 4.3% this week to $987.06, as the coin has not seen any more dramatic attempts to take over BTC. For now, the project focuses on being a payment system, and the price hovers sideways with little change.

(LTC) ended on Friday at $160.02, down around 2% net on the week. The project has not released any dramatic news, and LTC is back to its usual behavior of being relatively solid and less volatile.Volumes remain robust, and LTC is actually picking up in price against BTC.

EOS (EOS) was one of the rare gainers this week, as the project generated hype, but also criticism of market manipulation. EOS added more than 31% for the last seven days, to $6.76, but also suffered volatility, showing a relatively tame recovery.

Cardano (ADA) added around 5% to $0.19, but still looks quite different from its peak levels. Now, the project has entered an ice age stage, at least until the next time altcoins rally, and further slides are not out of the question on lowered volumes.

Stellar (XLM) inched up to $0.22 after a relatively active week, but failed to recover further, and so far the platform has not released news to make the price rally.

NEO (NEO) moved down one position, and hovers at $65.31, looking more modest compared to its $200 peak. NEO slid more than 7% in the past day, and is down around 4% on the week, as altcoins still need to rediscover their strength.

IOTA (MIOTA) is up to its usual range at $1.28, growing by more than 16% on news of serious work on the Trinity wallet, though with no release date in sight.

Monero (XMR) held to its position at $202.07, down around 3.66% this week. The coin remains steady, but has not seen any hype around the upcoming hard fork MoneroV, rescheduled for the end of April.

DASH (DASH) is down to $399.69, losing around 4% this week as the coin continues to drift and the attention remains on other coins and projects.

NEM (XEM) slid 20% this week as the Binance listing did not have the expected positive effect, bringing XEM down to $0.27.

The past week saw most assets drift sideways, or slide gradually, as the market bottom has not been reached yet. Dramatic days with double-digit losses are still not in the past, as buying interest is fragile, and projects are fighting for attention.

The only difference is between assets, as some manage to keep prices and volumes to more healthy levels, while previously hot coins see slow trading.

This article appeared first on Cryptovest





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