Analysis Editor's Picks

Daily volumes of trade on the cryptocurrency market has reached $16 billion

In recent days, rose sharply daily volume cryptocurrency trading: $10 billion to $16 billion.

The locomotive market

For example, the volume of bitcoin trading has grown 40% and are already close to $5 billion As is usually the case, the BTC has followed election. Jumped volume and courses Stellar (XLM), Cardano (ADA), Tron (TRX) etc. But the real champion was XRP: volume of trade as the third largest cryptocurrency in a few days grew from $400 million to $1.2 billion.

The crucial level of $6800

According to the analysis DonAlt, the current growth is unequivocally bullish sign for bitcoin. However, first, BTC will need to ensure growth in the short term, but it will have to overcome the resistance line of $6800, which from the beginning of August broke through only once, in mid-September.

In any case, the growth in trade with growth rates of cryptocurrencies signals a return of optimism for the cryptocurrency market, and there are reasons for this, like the upcoming launch of the futures market from Bakkt and custody services from Fidelity.

The activity concentration

It is worth noting the geographical factor: the lion’s share of trading volume from November 6, when cryptocurrencies went up, falls on the Asian region and, primarily, South Korea.

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