Market Update 2.5.19 – Crypto Exchanges See Lowest Trade Volumes since 2017
Crypto Exchanges See Lowest Trade Volumes since 2017
According to the Blockchain and crypto research firm Diar, trade volumes of cryptocurrency exchanges fell to their lowest in January since 2017. The worst hit exchange in terms of adjusted trade volumes is the cryptocurrency major Binance. The exchange’s BTC/USD market has fallen by over 40% as compared to volumes in December 2018.
In the United States, Coinbase is also experiencing major drops in trade volumes, lows that the exchange has not seen since May of 2017. Hong Kong’s OKEx has lost its 3-month growth trend in volumes of trade, dropping below the $4 billion mark.
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Token Price of BitTorrent Surges 600% Since ICO
The BitTorrent token BTT, which was launched via an ICO (Initial Coin Offering) on January 28, has seen its price skyrocket 600% since then. The ICO already made headlines after all the 50 billion tokens were sold out in less than 15 minutes.
BitTorrent, the peer-to-peer torrent that allows users to share files over the internet, was acquired by Tron in July of last year, and the BTT token that was launched is reportedly a part of a bigger plan to create a decentralized content distribution platform.
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Kraken Acquires Crypto Facilities
The cryptocurrency exchange Kraken has acquired the regulated futures trading company Crypto Facilities for an unknown amount. However, the deal has been valued a minimum of $100 million.
With this acquisition, which is being touted as the largest for 2019, Kraken’s customers will now be able to spot trade and even open positions that will offer exposure to possible future price movements in the crypto market.
Kraken’s Chief Executive Officer Jesse Powell stated that this merger would hugely accelerate the exchange’s roadmap and would enable the company to avoid the years of effort it would take to get the required licenses and approvals that would allow the company to offer such services in Europe.
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Total Market Cap: Feb 05
The capitalization of the cryptocurrency market in the last 24 hours has dropped marginally to $113.40 billion, and trade volumes are at $16.57 billion.
Bitcoin Price Analysis: Feb 05
Down by 0.26% in the last one day, the price of the Bitcoin token is now $3459.34. Capitalization of the cryptocurrency stands at $60.60 billion and trade volumes are now at $5.41 billion.
Ethereum Price Analysis: Feb 05
In the last 24 hours, the price of Ether has fallen by 0.39% to its current trading price of $107.26. Capitalization of the token now stands at $11.23 billion and trade volumes are now $2.53 billion.
State of the Top 10 Cryptocurrencies: Feb 05
Tron and Litecoin are currently trading up, with the former gaining 5.72% in its token price and the latter rising by 1.61%. However, the rest of the top cryptos are down, with Stellar leading the way with a 4.52% decline in its token price. Bitcoin SV is down by 2.18% and Ripple is down by 0.95%.
- Bitcoin’s price is $3459.34, sliding by 0.26%. The value of the Bitcoin token is now $60.60 billion.
- Ripple’s price is $0.298992, sliding by 0.95%. The value of the Ripple token is now $12.30 billion.
- Ethereum’s price is $107.26, sliding by 0.39%. The value of the Ethereum token is now $11.23 billion.
- EOS’s price is $2.39, sliding by 0.06%. The value of the EOS token is now $2.16 billion.
- Bitcoin Cash’s price is $118.93, sliding by 0.18%. The value of the Bitcoin Cash token is now $2.09 billion.
- Litecoin’s price is $34.22, gaining by 1.61%. The value of the Litecoin token is now $2.06 billion.
- Tether’s price is $0.998598, sliding by 0.28%. The value of the Tether token is now $2.01 billion.
- TRON’s price is $0.026752, gaining by 5.72%. The value of the Tron token is now $1.78 billion.
- Stellar’s price is $0.077834, sliding by 4.52%. The value of the Stellar token is now $1.49 billion.
- Bitcoin SV’s price is $62.18, sliding by 2.18%. The value of the Bitcoin SV token is now $1.09 billion.