Digital currency exchanges and cryptocurrency market
The digital currencies gradually transformed from little-known currencies to one of the fastest emerging currency markets. It means that more and more people are willing to invest in the cryptocurrencies. On September 9, Bitfury’s blockchain analytics platform Crystal published a report. The name of the paper is “Report on International Bitcoin flaws 2013-2019”.
This report provides information about cryptocurrency operations and Bitcoin transactions. Such reports help to understand the past as well as ongoing trends of the digital currencies.
Interesting information is that thanks to this report, potential crypto investors can learn more about the digital currency exchanges. The first place with the total number of exchanges belongs to the European Union. However, when taking into consideration that the EU is not a country, the U.K. becomes the number one country. There are 43 digital currency exchanges whereas in the EU this number is 49.
It is worth mentioning that it was impossible to identify the country of registration of almost 10% of all exchanges.
The U.S. also has a significant number of exchanges followed by Hong Kong, Singapore, etc.
Another important information is that the percentage of Bitcoin transfers changed significantly in the last six years. In 2013, 96% of Bitcoin transfers between the exchanges were sent from the digital exchanges located in the G-20 countries and others. However, in 2018 this number fell to 70%. This data shows that ongoing debates about the crypto regulations affected the digital currencies.
Digital currencies on September 12
Bitcoin price continues to struggle even though its price rose above the $10,000. The price of Bitcoin traded below the resistance level, which is $10,250. At some point, the price even fell to $9,983 which is the lowest level since the beginning of the week.
Right now, Bitcoin’s price is $10,037. There is a risk that this trend might continue and the price might fall below the $10,000.
Ethereum is the second-largest digital currency when it comes to the market capitalization. Ethereum’s price decreased below $180 against the U.S. dollar. At the moment, Ethereum’s price is $178. Any additional losses can pave the way for Ethereum to fall to less than $175.
- Trading Instrument
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!