Altcoins NewsBitcoin NewsEthereum News

Market Status: The historical record of the digital currency market before the IPO of Quinbase

Bitcoin, Ethereum, Binance Coin and Cardano managed to break their historical peaks. According to experts, the public offering of Quinn Base shares on the Nasdaq Stock Exchange has fueled the fire of rising prices in the digital currency market.

After rising 6.2% in the last 24 hours, the price of Bitcoin has now reached $ 64,594. During this time, bitcoin has been fluctuating between $ 59,758 and $ 65,000. On the other hand, the current price is higher than the 10 and 50 hour moving averages, which is an upward signal.

to the the report CoinDesk, the direct offering of shares of Quinn Base in the Nasdaq Stock Exchange is one of the most important developments in the digital currency market and now coincides with the new historical peak of Bitcoin.

Bitcoin price chart
Bitcoin price chart

It is worth noting that the price of Bitcoin is currently fluctuating in the range of its new historical peak.

Exchange data show that trading volume in the eight major digital currency exchanges reached $ 4 billion on Tuesday, the highest level since last week.

Bitcoin trading volume in exchange offices
Bitcoin trading volume in exchange offices

It has also shown a positive market mentality in futures markets, and now the difference between the annual value of quarterly contracts on futures platforms and instant trading is reaching 50%; This means that futures traders are waiting for the price to rise.

Jason Lau, Chief Operating Officer of OKCoin Exchange, said:

Markets are moving towards a direct offering of Quinn shares. The exchange market has a potential market value of $ 100 billion; As a result, demand for bitcoins and digital currencies has never been greater.

Prices of Ethereum and Altcoins

Ethereum Price Chart
Ethereum Price Chart

The Ethereum price jumped 9% to $ 2,390. In the last 24 hours, Ethereum has fluctuated between $ 2,135 and $ 2,400. The price of Ethereum is higher than the moving averages of 10 and 50 hours, which is an upward sign.

At the same time as Bitcoin is peaking, Ethereum seems to be trying to break its previous historical peaks one after another.

However, the star of the Quincy market is a currency other than Bynes Coin. This digital currency, which sees the big Baines exchange behind it, has experienced a significant leap.

It is said that the supply of Coin Base shares on the Nasdaq stock market has also affected the price of Coin Base. On the other hand, Bynes smart chain has also achieved considerable success and has now become one of Ethereum’s fiercest competitors.

Arcane Reseatch estimates that about $ 30 billion in capital is currently locked in the Baines smart chain. Arkin Research reports:

If growth continues at this pace, it will not be long before the value of Baines-based projects exceeds the value of Ethereum projects.

Locked value of Ethereum and Bainance Smart China
Locked value of Ethereum and Bainance Smart China

Ripple had the best performance among the market coins with a rise of more than 32%. After Ripple, Stellar with 16.7, Ias with 13.9, Ethereum Classic with 10.93 and Cosmos with 10.56% growth were the other market winners. However, with a 2% decline, the ounce of the network was one of the currencies that did not perform well.

Japan’s Nikkei 225 jumped 0.72 percent yesterday. The European FTSE Index rose 0.020% and the S & P500‌ Index rose 0.3%.

Crude was up 1.24 percent at $ 60.44 a barrel. Gold also rose 0.75 percent to $ 1,745.35.

The US Treasury Department’s 10-year bond yield also fell 1.622%.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button