December 4, 2021

EXMO company blog | Weekly news: new altcoin price highs

EXMO company blog | Weekly news: new altcoin price highs

Cryptocurrency market capitalization exceeded $ 2.5 trillion on October 28above which the last 7 days, according to CoinMarketCap. On November 2, the figure exceeded the level of $ 2.7 trillion. It grew by 9% over the week.

Trading volumes on the market have increased markedly compared to the previous week. For most of the week, the daily trading volume was above $ 130 billion, according to CoinMarketCap.The growth of trades began to be recorded as early as October 27. At the beginning of November 3, the daily trading volume reached $ 200 billion (this level has not been observed since September 7), but after that it dropped sharply to $ 128 billion.

The cryptocurrency index of fear and greed has been stably in the "Greed" zone for almost a month. As of November 3, its value is 76 points.

Bitcoin dominance decreased by 1.5% to 43.3% in a week, returning to the levels of early October, before the rise in the price of BTC. The decline in the position of the first cryptocurrency is associated with the more active growth of other assets.

EXMO company blog | Weekly news: new altcoin price highs

TOP factors of market movement

▲ 10/27/2021 - Altair update successfully launched on Ethereum 2.0 network.
▲ 27.10.2021 - On the Ethereum network, the number of coins burned per day has again exceeded the number of mined, according to The Block. With the exception of October 31, deflation continued through November 2 inclusive.
▲ 10/29/2021 - Ripple reports for the third quarter of 2021. The company recorded a 211% increase in XRP sales over the previous quarter thanks to its On-Demand Liquidity (ODL) service.
▲ 11/01/2021 - CoinShares: over the past week, the inflow of investments into funds based on litecoin amounted to $ 1.3 million, for the whole October - $ 1.7 million.
▲ 11/01/2021 - Goldman Sachs: ether could rise to $ 8,000 by the end of the year if historical correlation with inflation expectations persists.
▼ 11/02/2021 - JPMorgan: the fair price of bitcoin is at $ 35,000. If volatility is halved, it could be worth $ 73,000.
▲ 11/2/2021 - The Chicago Mercantile Exchange (CME) will launch ether-based microfutures on December 6.
▲ 11/2/2021 - Bloomberg Analyst James Seiffarth: US SEC May Approve ETF Launch On Ether Futures In Q1 2022.
▲ 03.11.2021 - Chainalysis: large investors have increased their investments in bitcoin over the past week. The total balance of wallets containing at least 1,000 BTC increased by 142,000 BTC.
▲ 11/03/2021 - Australia's Commonwealth Bank will provide customers with the ability to buy, sell and store cryptocurrencies, including bitcoin, ethereum, bitcoin cash and litecoin.

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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.

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