This stunning trend amongst crypto exchange tokens may be a massive red flag for investorsBTC $6786 (+0.8%) • ETH $144 (+1.9%) • XRP $0.18 (+1.3%)
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Native platform tokens aimed at increasing the efficiency and decreasing the costs associated with interacting with crypto exchanges have garnered significant popularity amongst investors in recent times, with their overt utility boosting transaction volumes and making them attractive to investors. In spite of this, data regarding the concentration of these tokens amongst so-called “whales” is quite alarming, signaling that these tokens may be highly prone to seeing manipulation. It also damages the investment proposition that these tokens possess, as it makes it highly unclear as to whether or not their growth is organic or artificial. More news ⏬Here’s why this grim monetary trend may be highly bullish for Bitcoin
The events occurring throughout the early-part of 2020 have rattled the global economy, with mounting COVID-19 infection rates and soaring unemployment damaging all major markets – ranging from stocks and commodities to cryptocurrencies like Bitcoin. Analyst: Ethereum is now “Bitcoin’s backbone” and big money is taking notice
There’s no doubt that Ethereum is an integral piece of the crypto market, with the massive amount of Dapps and platforms being built upon its blockchain accounting for important infrastructure within the industry. Big crypto firms are purportedly laying off staff, but others are on hiring sprees
Many tout Bitcoin and cryptocurrency for their uncorrelated natures, their ability to simply not care what the rest of the world is doing. Volatility strikes back, but on-chain metrics reveal strong resistance ahead of Ethereum
The cryptocurrency market has gone through a bullish impulse that saw many cryptos rise substantially, including Ethereum. Like gold with previous crises, Bitcoin will thrive after coronavirus, research shows
Bitcoin showed a tight correlation with the U.S. stock market for about two weeks from March 12, raising concerns among investors that cryptocurrencies are just as vulnerable to a financial crisis as stocks and other high-risk assets. What else?🕯 Bitcoin “scamwick” creates trail of destruction; leads to $50m in liquidations 🔟 Top 10 CoinMarketCap alternatives to try in 2020 🚀 “Rocket fuel”: Why this prominent investor is still eyeing a $100,000 Bitcoin price 🛢 Oil volatility following Trump tweets brings crypto traders to PrimeXBT Featured event
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This stunning trend amongst crypto exchange tokens may be a massive red flag for investors