Cryptocurrency news for today 16 april

  • Bitcoin lured bears into a trap

  • Ethereum Price Dynamics Affect Bitcoin Capitalization

  • Traders don’t want to trade, they want to walk

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Bitcoin and Ethereum are closely related and interdependent. Analysts have found out how the growth of the second largest cryptocurrency affects the capitalization of bitcoin. Meanwhile, traders are taking money from exchanges and transferring it to cryptocurrency wallets in the hope of weathering turbulent times. And, apparently, not in vain, since the unexpected rise in bitcoin after falling to new lows in the Asian session turned out to be a trap for bears. Chainlink project cryptocurrency surpassed ETH in terms of capitalization, which lost 45% on the fall on black March Thursday.

Read about the situation in the cryptocurrency market, as well as about the key events that have occurred in the cryptocurrency industry over the past day, in our daily digest..

How Ethereum’s Growth Affects Bitcoin Capitalization

On March 25, Bitcoin’s dominance level peaked at 67.99%, after which it went down. It is noteworthy that on the same day, the ETH / BTC pair was at a minimum and has been growing since then. Cryptocurrency trader @BillGK_Crypto tweeted a BTC dominance level chart showing that the indicator has lost an important level of support. Until the indicator returns above this level, altcoins will continue to grow, believes an expert who took Ethereum as an illustration of what happens to alternative coins when level of dominance of bitcoin falls. More details

Binance holds almost 16% of Tether’s total capitalization in USDT

No other cryptocurrency exchange stores even half of the stablecoins available on Binance’s wallets. The Binance cryptocurrency exchange turned out to be the largest digital platform with over 1 billion (almost 16% of the total capitalization) tether stablecoins (USDT) on its wallets. According to the statistics of the analytical service TokenAnalyst, no other cryptocurrency exchange has even half of the current volume of Binance. More details

Bitcoin traders massively take coins from exchanges

Over the past three months, the number of bitcoins stored on crypto exchanges has decreased by almost 10%, according to research firm Glassnode. On-net analysis shows that 2,190,887 bitcoins were stored on exchanges as of April 12. Since mid-January, when the annual high of 2,412,236 coins was recorded, there has been a decrease of 221,349 bitcoins..

Cryptocurrency news for today April 16

This is 9.17% of those bitcoins that are on exchanges over a 3-month period. More details

Ethereum lost almost 45% in price due to “Black Thursday”

The collapse of the price of ether cryptocurrency in a day has become the largest in the entire history of the ecosystem. During Black Thursday, the ethereum (ETH) cryptocurrency lost almost 45% of its value in just a day, according to the analytical service Messari. The one-day drop was the largest in the history of the cryptocurrency ecosystem. More details

Link cryptocurrency surpasses XRP and ETH in terms of trading volume

The LINK cryptocoin, which has become the corporate token of the ChainLink project, a platform for connecting smart contracts with external data, is breaking records in terms of trading volume. In just a day, the cryptocurrency surpassed such popular coins as XRP, ETH and LTC, which for a long time retained their leadership in the crypto market. In 24 hours, LINK’s trading volume exceeded $ 130 million.For example, the daily trading volume of the ETH token was $ 118 million, XRP – $ 77 million, LTC – $ 44 million.

Cryptocurrency news for today April 16

At the same time, the cost of the LINK coin is $ 3.40 per piece. More details


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Cryptocurrency news for today April 16

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