Blockchain Market Update: 20 May 2019
Over the past week, bitcoin’s price has rallied significantly above the $8k resistance against the US Dollar. The pair even surged above a new 2019 high approaching $8,360. Later, there was a sharp downside correction, but none of the spot exchanges were looking at much below $7k except Bitstamp which was getting driven hard by a $2k sell wall and dumped out to $6.1k, just enough to drive the average down and fill the CME gap at $6.2k. A fall of more than 25% was bought instantly and BTC is currently hovering around $8k resistance. The rest of the top-30 market performed quite significantly, with gains ranging from 10% up to 50% in some cases.
- Bitcoin’s dominance is down by 2.8% (57%), the total market cap is up by 16.1% ($245bn)‚ and overall volume remains unchanged ($80bn) since the previous week. Bitcoin is up by 10.9%, Ethereum by 30%, XRP by 24%, and EOS is up by 15%. The best performers among the top-30 crypto were NEM (57.1%), Chainlink (48.2%) and Tezos (38.1%).
- CME’s Bitcoin Futures Record Daily Volume
- Amazon Files Proof-of-Work Patent Using Cryptography
- Microsoft is Building ID Verification Platform on Bitcoin
- Grayscale Sees 40% Increase of Investment Inflow in Q1
- ICO Market is Down 97% in Q1 2019
- Blockstream Announces New Security Token Platform
- SEC Deadline for VanEck Bitcoin ETF on Tuesday
- Platforms Listing IEOs May Face Regulatory Trouble
- New York Court Grants Bitfinex’s Motion to Modify Injunction
Date: 20 May 2019
Crypto MktCap: $245 bn
24h volume: $80 bn
BTC dominance: 57%