Hi Readers, welcome to cryptocurrency price analysis for the week. Do not forget to check movers and shakers for this week at the last of the article.
Bitcoin continues to sit close to USD 8000 which finally looks a stability zone for now. The prices hit a high point of USD 8,200.97 and the lowest point of USD 7,533.20 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, BitMex (7.21%), BitForex (2.72%) and Coinall (2.63%)
Among prominent news around Bitcoin, In a recent interview with CNBC’s post-market show Fast Money, Mark Yusko, the Founder, Chief Investment Officer (CIO), and Chief Executive Officer (CEO) of SEC-registered investment advisor Morgan Creek Capital Management, said that Bitcoin (BTC) Will Outperform Stocks Over Next 10 Years
Ethereum followed Bitcoins move and sits well over USD 200 now after some months. Ethereum on the top, this week were at USD 262.11 and were at lows of USD 233.79. The markets that were more active, in volumes, with ETH across various pairs this week were LATOKEN(3.76%), DOBI Exchange (3.74%) and OOOBTC (3.20%)
Among news surrounding Ethereum, Buterin broke down the current state of transactions on the Ethereum blockchain and what he believes can be done to improve user anonymity. As a solution to the issue of privacy, Buterin proposes a simple mixer for sending fixed quantities of ETH from one account to another. These transactions would not be visible on-chain, and would likely be most applicable for use with small quantities of ether.
On the top, this week the prices of XRP were at USD 0.417456 and towards the bottom, it quoted USD 0.366805. The exchanges that were more active, in volumes, with XRP across various pairs this week were, ZBG (10.03%), BW.com (4.50%) and HitBTC (4.49%)
For XRP this week, SCB Thailand launched a blockchain platform that uses the Ripple company’s xCurrent system to facilitate cheaper cross-border money transfers.
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on May 26 at 6:30 pm IST) were
- ThoreNext – Showing a rise of 486.82%
- SoPay- Showing a rise of 236.33%
- Egretia- Showing a rise of 152.47%
- Mainstream For The Underground- Showing a drop of 78.37%
- Crystal Token- Showing a drop of 77.80%
- InternationalCryptoX– Showing a drop of 55.26%
What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.