December 11, 2023

EXMO company blog | News of the week: tension on the crypto market grows

EXMO company blog | News of the week: tension on the crypto market grows


News of the week - a source of information about key events in the crypto market.

Capitalization of cryptocurrencymarket from September 20 continues to remain below $ 2 trillion, according to CoinMarketCap. According to the results of the last 7 days, the indicator practically did not change and amounts to $ 1.88 trillion.

The trading volumes on the market have significantly decreased.Daily volumes fell 31% over the week to $90.4 billion today, according to CoinMarketCap. The maximum values ​​were reached on September 7 and 8 – up to $245 billion.

Cryptocurrency index of fear and greed for 9 days in a row remains in the "Fear" zone.The last two days the indicator indicates “Extreme Fear”.

The dominance of bitcoin has hardly changed in 7 days and is 42.3% today.Ether also maintains its position in the market – 18.3%. The Bitcoin rate has remained above $40,000 for almost two months, since August 5.

TOP factors of market movement

▲ 09/22/2021 - Kaiko: the share of the BTC / USD pair in the total trading volume together with the ETH / USD pair decreased from 77% in September 2020 to 44% at the current moment.

▲ 09/23/2021 - Twitter has officially added support for Bitcoin transactions through the Lightning Network.

▲ 09/23/2021 - Ripple and Bhutan's central bank to test state cryptocurrency.

▼ 09/23/2021 - BitInfoCharts: the number of transactions on the Dogecoin network decreased to the level of 2017.

▼ 09/24/2021 - The media started talking about the fact that the United States may face a default on public debt if Congress does not raise the public debt ceiling.

▲ 09/26/2021 - Amid the tightening of the ban on cryptocurrencies in China, the value of DEX tokens, including UNI, has grown significantly. At the same time, Uniswap's on-chain indicators did not show growth.

▼ 09/27/2021 - Chinese e-commerce giant Alibaba will ban mining hardware from its platform from October 8.

▼ 09/27/2021 - F2Pool mining pool "will not provide services to China" and may close or block Chinese user accounts.

▲ 27.09.2021 – Coinshares: against the backdrop of declining markets over the past week, an influx of $95 million into crypto funds was recorded, which was 126% higher than the previous week. 83% of all receipts come from BTC and ETH funds. Investment growth has been observed for the sixth week in a row. During this period, the total inflow amounted to $320 million.

▲ 09/27/2021 - Glassnode: the share of BTC in long-term holders' wallets has reached a new record of 80.5% of the total volume of coins in circulation.

▲ 27.09.2021 - Ethereum developers set Altair hard fork for October 27th. This is the first code update for the Beacon Chain, representing Ethereum 2.0. At the same time, it is assumed that the merger of ETH 1.0 with ETH 2.0 may be delayed.

▼ 09/27/2021 - The second largest mining pool ether SparkPool has announced that it will no longer operate in China and beyond.

This is a short summary of the top crypto news of the week. Follow the link to read the full version of the weekly cryptocurrency review.