Cryptocurrency: Why is Stellar?
The total capitalization of the cryptocurrency market once again exceeded $ 300 billion, and currently is $302,6 mlrd Index of dominance bitcoin, BTC Dominance remains high – 46,8%.
Bitcoin shows a growth of +0.36% and the price of the “home” of cryptocurrency right now is $8255, according to Coinmarketcap. Ethereum rose 1.89% to $481,58, Ripple rose by 2.08%.
The best growth among the top 10 cryptocurrencies demonstrates Stellar (+of 15.71%), on news that the cryptocurrency will be added to the listing crypto currency exchange Huobi. Houbi is a Chinese site based in Beijing back in 2013, one of the largest volume in the world. According to Coinmarketcap on an average day the exchange conducts trades worth about $726 million
For cryptocurrency Stellar news about adding to the exchange Huobi is another reason for the growth, although the coin has already increased by more than 63%, overtaking the capitalization of Litecoin. Stellar now occupies the 6th place in the ranking of Coinmarketcap, among more than 1600 crypto-assets.
About the dynamics of Bitcoin, in yesterday’s review I mentioned that the price of BTC/USD is at resistance near $8400-8500 for the coin, as long as this level holds back the further growth of prices. In the event of a breakdown further upside target will be around $8800 for 1 BTC, but while this short-term drop to $7800 is still considered as the most likely scenario from the point of view of technical analysis.
In recent days there has been a significant growth in the market, as evidenced by data trade bitcoin futures at the Chicago Mercantile exchange (CME). The exchange reported record trading volumes in the amount 12878 contracts for the day Tuesday, July 24. On average, over the day futures contracts on the bitcoin on the exchange, CME was trading at about $ 530 million dollars.
Undoubtedly, this interest is dictated primarily by the expectations of the launch of the ETF, bitcoin Fund, it is the most important thing for the market. It is the outcome of the SEC decision will depend on the fate of the cryptocurrency market, and the potential output of the up side of the corridor for the BTC/USD $6000-9000, in which the market is from the beginning of the year.
“International Financial Center”