Crypto market falls after controversy between Bitfinex and Tether – Crypto Weekly Review 28 Apr 2019

The cryptography market slips as a result of the new controversy between Bitfinex and Tether

After a positive start, the market slumped on Thursday as the New York Attorney General accused Bitfinex and Tether of mismanaging about $ 850 million of funds.

Previously, the total valuation was $ 177 billion Monday morning and reached the $ 180 billion mark at the end of the day. Things continued to improve on Tuesday, as the total cap increased 2.7% to $ 185 billion.

This led to a mid-week decline as the market retreated 3.8% from $ 184 billion to $ 177 billion on Wednesday. The decline was followed by a sharp drop, with the NYAG newspaper announcing Thursday that the total ceiling had fallen by $ 10 billion. from $ 177 billion to $ 167 billion in a few hours. After a brief period of fluctuation Friday, the market eventually stabilized around $ 170 billion, and the total valuation continues to fluctuate around the same value as that of the weekend.

The daily trading volume was around $ 50 billion on Monday and $ 60 billion on Wednesday. Despite a late rise on Friday, trading volume has declined and the daily volume of 24-hour transactions is currently $ 45 billion, while total market valuation is $ 173 billion.

The fall in the middle of the week had a detrimental effect on all the best-selling parts, the bitcoin dropped by about 0.15% while the Ethereum dropped by 6.6%. XLM was the big loser with a loss of about 10.6%, while EOS and Bitcoin Cash fell by about 8.6% and 8% respectively. At the same time, XRP lost nearly 8% in value.

Among the top 100, MONA and ODEM performed well and jumped 40%, while DGD grew by around 24%. REP and DENT completed the list of the top 5 winners, with respective growth of 12% and 13.7%.

Bitcoin finished the week he started

Bitcoin started the week at $ 5,340 and earned $ 5,420 later in the day. However, there was a bigger jump on Tuesday, with BTC rising from $ 5,420 to $ 5,610, a growth of 3.5%.

BTC reached $ 5,655 Wednesday before falling back quickly. The price fell 3.6% to $ 5,450 later in the day, followed by a 5% drop from $ 5,500 to $ 5,225 on Thursday. After a few fluctuations at the end of the week, BTC hovered around $ 5,300 over the weekend.

Bitcoin's daily trading volume was around $ 13 billion on Monday and close to $ 16.5 billion on Wednesday. After hitting another $ 16 billion on Friday, 24-hour trading volume is currently $ 11.2 billion, while BTC trades at $ 5,310 and retains a market capitalization of $ 93.2 billion. billions of dollars. Bitcoin also enjoys a 54% dominance.

Ethereum had a steeper dip

Ethereum started the week at $ 171 and remained relatively steady on Monday. The price then climbed to $ 177 early Tuesday before falling steadily. ETH fell to $ 164 Wednesday night, which represents a loss of 7.3%. However, on Thursday, the price of ETH fell by 7.2% from $ 165 to $ 153 Thursday.

The ETH tried to recover over the weekend and earned about $ 5 on Saturday to hit $ 160 again. ETH continues to fluctuate around this figure at the end of the week.

The daily volume of Ethereum transactions was $ 4.5 billion Monday and exceeded $ 6 billion Wednesday. The volume of 24-hour transactions is currently $ 4 billion, while the ETH trades at $ 159 and maintains a market capitalization of $ 16.8 billion.