Bitcoindominance – the major news and updates in cryptocurrencies.
The Bitcoindominance is a website that brings you the latest news and updates on Bitcoin, Ethereum, ICOs, altcoins, blockchain technology and financial markets.
We are proud to present you the latest news from the crypto world that we collect on a daily basis. Our team consists of professional journalists and editors who work in this field for years now. Our experience allows us to find only relevant news and articles about cryptocurrencies as fast as possible with an emphasis on Bitcoin and Ethereum. In addition, we have experts in our team who will analyze these events from all sides and provide you with their opinion.
Our main goal is to deliver high-quality content and be objective at the same time because we know how much it’s important for users to make well-thought decisions regarding investments.
Bitcoindominance – all the major news and updates in cryptocurrencies.
The cryptocurrency market has seen a steady decline since the beginning of September. As of September 12, the total capitalization of the cryptocurrency market was $ 17 billion less than at the end of August. The most significant decline in Bitcoin, which since September 1 has depreciated by 15%. According to a recent report by BitMEX Research and TokenAnalyst, bitcoin trading volumes on exchanges have fallen to their lowest level since June 2017.
At the same time, it is worth noting that stablecoins continue to gain popularity. In particular, Tether (USDT) remains among the top 3 largest cryptocurrencies by market capitalization as of September 13. Despite an ongoing lawsuit with the New York prosecutor’s office about the lack of transparency in accounting, USDT continues to be one of the most popular cryptocurrencies for trading on exchange platforms. In addition, over the past month, its volume on some major trading platforms has exceeded that of Bitcoin.
Now this trend is continuing. For example, on September 10th, MakerDao added support for USDT as collateral for generating DAI stablecoin. This will allow users to use USDT as collateral when creating DAI through CDP smart contracts on Maker
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The rate of Bitcoin on the Bitstamp exchange has dropped to four months low. According to CoinMarketCap, on Tuesday, May 21, the price of Bitcoin fell below $ 7900.
The fall in the value of the first cryptocurrency began in the early morning of May 20. It was triggered by reports that the US Department of Justice launched an investigation into the manipulation of prices for Bitcoin and other cryptocurrencies with the help of trading platforms such as Bitfinex and Tether.
According to Bloomberg’s sources, federal prosecutors are trying to determine whether traders used Tether tokens as a way to manipulate prices for Bitcoin and other cryptocurrencies; At that time, Tether was used to buy Bitcoins at Bitfinex.
Tether is a cryptocurrency whose issuers claim that each token is backed by one dollar held in reserve. Since its inception, there have been rumors about possible fraud with it. However, this is the first time that regulators have made such an investigation public. Market participants were very surprised by this news, which led to a sharp drop in the value of coins.
$1 Trillion Bitcoin [BTC] Market Cap on the Horizon, Says Max Keiser
Bitcoin [BTC] has hit a new yearly high of $6,200 and is currently trading at $6,160. The market cap is now over $110 billion, making Bitcoin [BTC] the first cryptocurrency to ever break the $100 billion market cap. The price of Bitcoin has surpassed that of gold by a long shot. At this rate, according to Max Keiser and Peter Schiff – two prominent personalities in the crypto space – Bitcoin could even break the $1 trillion mark.
At the end of last week, a listing of a new token on Coinbase Pro was announced. The so-called Stablecoin USD Coin (USDC) is pegged to the U.S. dollar and will be traded against BTC and ETH. The digital asset is already available for depositing on Coinbase Pro from October 16th, and trading will be launched in phases once sufficient liquidity is achieved.
At the beginning of the week, on October 15th, at about 14:00 GMT, Bitcoin dropped from $6,500 to $6,000 in just one hour. As a result of price movements in this period, traders were forced to close their positions at unfavorable prices, which has led to a massive liquidation of leveraged positions on Margin Trading platforms and a serious drop in the price of cryptocurrency.
At press time, BTC/USD is changing hands at $6,300 after an intraday slippage to $5,800 amid major sell-off across the crypto market triggered by Bitcoin’s drop below the $6k mark.