December 11, 2023

EXMO company blog | Weekly news: crypto market resistance

EXMO company blog | Weekly news: crypto market resistance</p>

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

Capitalization of cryptocurrenciesbehindthe last 7 days has decreased by almost 13% - to $ 1.87 trillion, according to CoinMarketCap.

Trading volumes increased with the market fall.Daily trading volumes increased by 24% over the week– up to $134 billion. On Monday, the figure rose to $151 billion, never reaching the local maximum of $246 billion caused by the market drop on September 7.

Cryptocurrency Fear and Greed Indexagainst the backdrop of Monday’s unrest, it dropped from the “Neutral Zone” to the “Fear” zone – to 21 points.

Bitcoin dominance in 7 days increased by 0.81% - up to 42.6%, according to CoinMarketCap.Some subsidence was observed simultaneously with a short-term increase in the ether indicator. The share of ether grew to 19.51% on September 16, but only lasted above 19% for two days. Over the week, the figure decreased by 0.23% to 18.4%.

TOP factors of market movement

▲ 15.09.2021 – Glassnode: Bitcoin balances on exchanges returned to the February 2018 level – 13.1% of all coins in circulation. The trend towards a reduction in exchange reserves has been observed since March 2020, when the price of BTC fell to $5,000.

▲ 09/15/2021 - After the London update on August 5, 297,000 ETH worth more than $ 1 billion was burned. On average, about 5 ETH is burned per minute.

▲ 09/17/2021 – IntoTheBlock: ether and bitcoin rates over the last 30 days show better results than the Nasdaq 100, S&#038;P 500 and Dow Jones indices.

▲ 09/20/2021 - Glassnode: Miners have been accumulating bitcoin in their balances for the past six months. Since January, their reserves have grown to 13,000 BTC.

▲ ▼ 09/20/2021 - CoinShares: Last week, investors preferred Bitcoin, investing $ 15.3 million out of $ 41.6 million in funds based on the first cryptocurrency.

▼ Sep 20, 2021 - Glassnode: Long-term holders are now realizing profits with BTC they have acquired between the $ 18,000 and $ 31,000 levels.

▲ 09/22/2021 – The People's Bank of China injected 120 billion yuan ($18.6 billion) into the country's banking system to ease market unrest caused by the debt crisis of real estate giant Evergrande.

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.