CV Market Watch™: Weekly Crypto Trading Overview (March 22-29 2019)
Bitcoin held above $4,000, paving the way for altcoin rallies that offered more robust returns.
Bitcoin (BTC) recovered the $4,000 level, remaining robust with high volumes. This past week, the leading coin paved the way for altcoin rallies where multiple assets once again reclaimed peak prices in Satoshi.
Bitcoin (BTC) traded at $4,102 as of 10:50 UTC on Friday, starting one of the usual pre-weekend rallies. BTC recovered after almost sinking below $4,000, as volumes picked up above $10 billion’s equivalent in 24 hours.
The share of Tether (USDT) reached records above 84% last week, and remained at 76% of all trades on Friday. USDT is currently the most significant booster of BTC volumes.
Ethereum (ETH) recovered to $141.33 in a sudden surge on Friday. The asset preserves its position due to high trading volumes against other digital assets.
XRP (XRP) retreated to $0.30, as the high-level social media hype is unable to cause a rally for the coin.
EOS (EOS) climbed up the charts following a series of announcements and a big pre-announcement for an event coming up this June 1. EOS grew to $4.35, adding more than 18% to its price this week, to line up among top gainers.
Litecoin (LTC) grew to $61.21, boosted by the pre-weekend rally in all assets.
Bitcoin Cash (BCH) boomed upward to $170.38, adding more than 9% in the past week, decisively abandoning the $130 range.
Binance Coin (BNB) continued to boom, growing to $16.77, up more than 12% in the past trading week. Binance remains more popular on top of the success of Binance Launchpad token sales.
Stellar (XLM) stagnated at $0.10, despite the news of its addition to the Trust Wallet, the official wallet app purchased by Binance.
Cardano (ADA) was a big surprise this week, extending the rally from recent lows. ADA grew by more than 22% to $0.069, with the potential to keep gaining positions against BTC.
TRON (TRX) increased only slightly to $0.023, receiving contradictory news of the Tesla giveaway and some doubts that the reward draw was fair.
Bitcoin SV (BSV) fell to $64.86 as the asset lost positions, and last week saw CoinBene close for a period of maintenance.
Monero (XMR) stood at $53.51, with a small net loss this week.
IOTA (MIOTA) kept to the $0.30 price level, once again failing to invite high-level speculation.
DASH (DASH) kept the rally, adding another 7% this week to $98.03, on track to regain triple-digit prices as altcoins kept their pace for another week of gradual gains.
Maker (MKR) reached $694.18, retreating from recent peak prices above $740, as it crashed down on Friday, losing positions against BTC.
Ontology (ONT) stood at $1.25 on Friday, permanently displacing NEO, its parent network. ONT was volatile in the past week, but managed to keep well above the $1 tier.
NEO (NEO) stood at $9.44, as for now the coin’s growth is slower compared to other assets.
Tezos (XTZ) compensated for the months spent near lows, reaching $0.78 on Friday to displace Ethereum Classic (ETC).
The BTC market cap dominance inched down to 50.3%, with altcoins making significant gains. Altcoin season is in full swing, with a marked price movement for assets represented on the Binance exchange. Coin rallies against BTC manage to bring record prices for some assets, creating the impression that there are opportunities even after the bear market continued for more than a year.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.