Bitcoin is a good indicator of the crypto market in general, because it’s the largest cryptocurrency by market cap and the rest of the market tends to follow its trends.
While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.
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While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.
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Developed in 2012 by Toronto-based programmer Vitalik Buterin, and backed by an initial $18 million crowdfund, Ether (ETH) is a cryptocurrency that underpins a blockchain network called Ethereum. While Bitcoin was designed to be a digital currency, Ethereum is a more general implementation of blockchain technology.
That can mean serious savings for investors, especially compared to some other exchanges. For example, if you want to buy $100 worth of Bitcoin on Coinbase, you’d actually end up with about $96.51 in Bitcoin, after fees. On Binance.US, you’d still have $99.99 to purchase Bitcoin after accounting for the 0.1% fee.
Bitcoin was trading 3.7% higher Friday morning. The price was around $61,200 per coin.
Though both assets posted a quick recovery, the event has made a significant impact on the market. Bitcoin retraced by 7.4% a few hours after making a new all-time high at $67,000.
According to Karony, SafeMoon could soon be listed on top cryptocurrency exchanges, increasing the accessibility of the token.
Brooks quit his role at San Francisco-based Binance.US, citing "differences over strategic direction" in the Twitter post. He worked only three months at the company, which is the American counterpart to Binance — the Chinese company that operates the largest cryptocurrency exchange by volume.