Blockchain Market Update: 13 May 2019
The digital assets market is continuing to grow at a significant pace, with the total market cap last week rising by almost 20%. Bitcoin continued its parabolic move towards $7,550, which is a 9-month high, as BTC’s price grows by 130% since the December lows. The bitcoin rally caused a total of $380m liquidation just on BitMEX, with a new record for daily trading volume of $10bn. Bitcoin is currently hovering around $7k and further consolidation is expected before another leg to test $8k. The rest of the market is following the trend, most notably BCH (+23%), ETH (+16%), and LTC (+16%).
- Bitcoin’s dominance is up by 5.2% (58.7%), the total market cap is up by 16.5% ($211.5bn)‚ and overall volume is up by 42% ($80bn) on the previous week. Bitcoin is up by 23%, Ethereum by 15.5%, XRP by 5.6%, and EOS is up by 12.5%. The best performers among the top-30 crypto were Bitcoin (23%), Bitcoin Cash (23%) and Bitcoin Gold (19.6%).
- Binance Lost 7,000 BTC in Security Breach
- Bitfinex Reportedly Sold Out its IEO
- Facebook Reverses its Policy Banning Crypto Ads
- Medici Bank Opens Crypto-Friendly Bank in Puerto Rico
- Bitcoin Outperforms Most Traditional Asset Classes since 2019
- Currency.com To Offer Tokenized Belarussian Government Bonds
- FinCEN Issues New Guidance on Crypto Regulation
- SEC Receives Another Crypto ETF Application
- US Lawmakers Form Fintech Task Force
Date: 13 May 2019
Crypto MktCap: $211.5 bn
24h volume: $80 bn
BTC dominance: 55.8%