Cryptocurrencies Market Overview - Thursday, September 21, 2017
I've added a new chart to my daily Cryptocurrencies Markets Overview: 24 Hour Volume.
Based on this chart I noticed STEEM has a very low trading volume compared to the other top 30 cryptocurrencies. If I would rank all available cryptocurrencies by trading volume Steem would rank at #87 right now. Few buyers, few sellers. Any idea why Steem's trading volume is so low? Let me know...
24 Hour Change
7 Day Change
Month-to-Date Change
24 Hour Volume
Market Capitalization
Bitcoin Chart
We seem to break out to the down side :(
Feel free to use and share my charts, but please mention me as the author.
Latest Crypto News - September 21, 2017
South Korea in Centre of Bitcoin Universe As It Passes China in Bitcoin Trading
After the massive upheaval in the Bitcoin market over the past weeks because of negative news from China, it appears that Bitcoin transaction volume has shifted out of China. In a move that should not be surprising, South Korea has passed China in total Bitcoin trading volume today, as reported by Joseph Young and Tuur Demeester via Twitter.
Read more: cointelegraph.com
Bitcoin Price is Stuck in Limbo at $3,900 due to Declining Trading Volume
Not too much is happening in the world of cryptocurrency right now. With Dash being the only currency making any major movements, there is little to talk about. One thing that has become rather apparent is how the overall cryptocurrency trading is less than half of what it could be right now. This is mainly visible as far as Bitcoin is concerned. Then again, as long as the Bitcoin price remains stuck at $3,900, not much will happen.
Read more: themerkle.com
Popularity of Crypto Debit Cards Will Encourage Mainstream Adoption
World boxing champion Floyd Mayweather, popular for his uncommon attitude towards money, has taken his relationship with cryptocurrency a step further by partnering with Centra Card to spend his cryptocurrency in mainstream commerce.
Read more: cointelegraph.com
Russian Governor Invites Cryptocurrency Miners to Set Up Mining Farms in Leningrad
The Russian Leningrad region wants to create an industrial park for cryptocurrency mining including bitcoin. The region’s governor is inviting miners to the Sosnovy Bor area near St. Petersburg to create industrial-scale mining farms at the old Leningrad nuclear power plant.
Read more: bitcoin.com
China’s bitcoin miners in limbo after Beijing shuts down exchanges
In a remote corner of northwest China, Wang Hongyi plans to set up a bitcoin “mining farm” with 1,000 computer servers, hoping to take advantage of low electricity and operating costs to cash in on the boom.
Read more: scmp.com
Bitcoin Core Developer Explains Bitcoin’s Value
Jimmy Song has 20 years experience as a software developer. So it’s easy to imagine that he took an interest in Bitcoin from the technology angle. However, Jimmy first got interested in Bitcoin as a store of value and sound money, and only later started to contribute to the Bitcoin core development team and to train new developers for the technology.
Read more: theepochtimes.com
CFTC Chair Giancarlo: Embracing Blockchain Is in the 'National Interest'
Blockchain is in America's "national interest." That's according to J. Christopher Giancarlo, chairman of the Commodity Futures Trading Commission (CFTC), who issued the bold proclamation in remarks at a gathering of government technology executives in Washington, D.C. Wednesday morning.
Read more: coindesk.com
Weak Demand? Bitcoin's Price Rebound May Be Starting to Fade
The rebound in the bitcoin-U.S. dollar (BTC/USD) exchange rate from the recent low of $2,980 has stalled around the $4,000 level, raising doubts as to whether the rally will continue.
Read more: coindesk.com
China Might Lose Its Pricing Power On Digital Assets
It’s official. All Chinese cryptocurrency exchanges announced their plan to cease all trading operation. With the assumption that the condition would persist for a prolonged period, this article aims to evaluate the possible price dynamic changes on digital assets after such drastic measures.
Read more: okex.com
Jamie Dimon faces market abuse report after his comments about bitcoin
Blockswater, an algorithmic liquidity provider, has filed a market abuse report against Jamie Dimon for "spreading false and misleading information" about bitcoin.
Read more: cityam.com
Great explanation
You think anything will actually happen to Jamie DEMON
Really glad you brought up this point regarding volume, b/c it's very important. There was another thread discussing this, tried to find it but couldn't. The consensus seemed to be regarding volume that the vast majority of users hold their Steem in Steem Power, but since they control such a small amount of the Steem, the average daily trading volume isn't affected much unless whales are selling or buying. When the whales, who control the vast majority of Steem, are buying/selling are the days we see the volume spiking. Since the whales are so few in number, most days we really don't see much volume.
Good explanation.
The low amount of liquid STEEM could explain the low trading volume indeed.
Nice work man
Quite quality post here with graphs and relevant links. You have made the effort to produce something that many of us appreciate. Very unlike the lightweight, hurried posts that some produce.
Anyway the chart on BTC's trend isn't encouraging. I'm playing safe by converting some of my BTC to USDT (Tether). Should there be another slide, I'd want some sort of cushion to ride things out.
I bought STEEM for the first day yesterday (one day too soon i guess (-: ... will prob by more soon, like next week or month
Big post who understands to that it will be interesting.
Thanks for sharing @penguinpablo. Tons of useful information and insight. Hopefully, there will be some positive news to come out soon in the crypto world..
you are a good writer..
Very good.
I like your post