CV Market Watch™: Weekly Crypto Trading Overview (October 25- November 1, 2019)
Bitcoin (BTC) recovered to above $9,000 in a spectacular Monday rally, stabilizing around $9,100.
Bitcoin (BTC) went through a booming weekend where it touched $10,000, later establishing a new stable level around $9,100.
Bitcoin (BTC) reached $9,153.51 mid-day on Friday. BTC reached a weekly high at $10,021.74 on October 26, and the drop was stemmed just above the $9,050 level after a rogue flash crash on November 1.
The share of Tether (USDT) expanded to above 76%, with BTC and USDT taking up 65% of all trading activity, and gaining all the traders attention. The BTC market cap dominance is around $67.4%, for now giving way to some of the more liquid altcoins that also preserve their value.
Ethereum (ETH) returned to $182.58, up around 10% in the past week, establishing a range of relative stability.
XRP (XRP) failed to budge ahead of the annual Swell conference, remaining around $0.29. The latest tranche of 1 billion XRP unlocked from escrow is also controlled in order not to crash the price, as Ripple has promised.
Bitcoin Cash (BCH) regained 27% this week to $279.31, though stalling ahead of the weekend. BTC forks had a noticeable outperformance this week.
Litecoin (LTC) added 14% to $58.44 this week, returning to its habitual range. The coin has lost around 60% of mining activity since August.
Binance Coin (BNB) recovered to $19.93, on news of growing volumes and listings on Binance.US.
EOS (EOS) stood at $3.27, compensating most of the losses from the recent sell-off.
Bitcoin SV (BSV) added another 10% net this week to $127.25, as the project heads for its first anniversary.
Stellar (XLM) boomed, as it also has its first community conference on November 4-5. The coin added nearly 15% since last weeks lows, to $0.069.
TRON (TRX) got a boost from the TRON-based USDT issuance and trading incentives, jumping to $0.019, up more than 27% this week.
Cardano (ADA) jumped to $0.41, adding 9% this week, boosted by the general market recovery.
Monero (XMR) jumped by 9% to $59.54, outpacing other assets. XMR remains range-bound ahead of its November hard fork.
Unus Sed Leo (LEO) is getting more active, growing by 4% on Friday, to $0.98. The asset attempts to stick to the $1 level, with skepticism about organic volumes and demand, as Bitfinex activity is slowing down in 2019.
Huobi Token (HT) recovered by 20% since last Fridays lows, to $3.91, as exchange-based native coins remain one of the best performers.
Chainlink (LINK) stagnated at $2.27, down about 1.6% since last week, this time failing to perform another feat of appreciation.
IOTA (MIOTA) inched up to $0.27, keeping to its range on relatively lower volumes, as the coin has not crashed or pumped significantly for months.
NEO (NEO) is back among the top 15, growing to above $11 this week. The coin gained more than 50% after a small backtrack, to $10.53.
DASH (DASH) recovered to $71.25, up around 10% this week, as the coin continues on its track to attempt widespread adoption.
BTC found a new range of stability above $9,000, growing more than 20% since last week. BTC achieved one daily gain of 42%, later backtracking, showing that there is enough trading power to boost the coins positions. Altcoins still managed to perform, especially d ...