While the crypto market is still deciding where to go, the BTCNEXT Team is working hard to bring the exchange the success it deserves. In the last couple of weeks, we listed new coins and updated the old ones. Read all the updates right now!
Last week, the price of gold recovered to the resistance level of $1,775 per troy ounce amid slowing growth in US Treasury yields. The dollar also weakened, supporting precious metals.
WTI crude oil rose significantly in price and reached the resistance level of $63 per barrel. By the end of the week, oil rose in price by almost 5%. This growth was driven by a number of optimistic factors that improve expectations for the supply and demand of raw materials in the market.
Key indices are moving up to new heights despite the pullback in recent days. The S&P 500 broke through the $4,100 mark. The Dow Jones is trading at around $34,100.
The crypto market capitalization has dropped by 6.3% over the last 7 days. DOGE grew the most: +419.5% in one week. SUSHI dropped more than the others, losing 23% of its value. The QDAO price added 52.1%, BNX grew by 14.8%. NOAHP dipped by 73.3%.
The real fight between bulls and bears has begun! Bitcoin drastically dropped from its all-time high at $65,000 to almost $50,000 in one bloody candle. The bulls managed to push BTC back to the $56,000 mark but sellers have no intention of leaving. The price regularly retests $54,000 and this fortress will soon be broken. We can still bounce back to $58,000 but then will drop to below $49,000. The correction is here.
BTCNEXT Exchange update
Our team had a productive two weeks. We are working to bring the best possible user experience. Our main updates:
- We have updated the NOAHP coin description. You can now learn more about the coin itself and the team behind its development.
- We have listed several new coins: COMP, ENJ, UMA and XTZ.
- UMA token is used to operate UMA's dispute resolution system, known as the Data Verification Mechanism (DVM). Owning UMA gives you the ability to contribute price information to the DVM and govern the UMA protocol.
- Enjin Coin (ENJ) is an Ethereum-based cryptocurrency used to directly back the value of next-generation blockchain assets. Enjin Coin is infused into NFTs through a process called minting. This process can be reversed; every NFT can be melted back into a coin.
- Compound (COMP) is an ERC-20 asset that empowers community governance of the Compound protocol; COMP token-holders and their delegates debate, propose and vote on all changes to the protocol.
- Tezos is a coin created by a former Morgan Stanley analyst, Arthur Breitman. It is a smart contract platform that does not involve mining Tezos coins. It is a coin that promotes itself on major ideas of self-amendment and on-chain governance. It is an Ethereum-like blockchain that hosts smart contracts.
Daily volumes and statistics on BTCNEXT Exchange:
- BTC - $14.7m
- ETH - $18m
- ADA - $14.7m
- BNX - $180,000
- NOAHP - $8,500
- QDAO - $168,000
- The total average daily volume on the exchange is $101m.