BTCNEXT Exchange Update #44

Hey there! Two weeks have passed and the BTCNEXT team is back with updates! We continue to work on exchange improvements to provide you with the best user experience. Check out all the news below!

Financial markets

Gold trading lacks certainty. Attempts to reverse the established downtrend are visible. During the week, market participants were not ready to buy the defensive asset amid the US dollar strengthening. It’s possible they wanted to close their short positions in gold before the weekend. There is a pause at the moment. If the US dollar shows a new wave of strength, then gold may show its weakness. Now the precious metal is trading at $1,770 per troy ounce.

Brent crude oil has overcome the resistance level in the region of $79–80 per barrel. The rise in prices throughout the week was fueled by the growing concern from traders about the reduction in stocks of raw materials around the world, on the eve of winter, when demand increases. This growth is seasonal in nature, which provokes market participants to buy the black gold.

Key indices are falling in price. The S&P 500 is now trading at $4,300. The Dow Jones dipped to the $33,970 mark.

Crypto market

The crypto market capitalization increased +8.7% over the last 7 days. EOS grew more than the others: +14.6% in one week. ADA dipped the most by -3.3%. The QDAO went down by -4.7%, BNX dropped by -0.1%, NOAHP lost -15.3%.

It seems that the correction has come to an end. Bitcoin has risen in price by $7,000 in 1 week, having overcome several resistance levels. Now the main cryptocurrency is preparing to storm the $50,000-$52,000 region. If we manage to pass it, we may well see a new ATH. As for altcoins, the situation is not so positive. They are still gaining less than Bitcoin but pulling back more. So far, the market situation is ambiguous.

BTCNEXT Exchange update

We’re doing our best to improve the exchange as fast as possible. Most of the work is going on backstage but be sure — we never sleep!

Daily volumes and statistics on BTCNEXT Exchange:

• BTC — $16.3m
• ETH — $11.2m
• ADA — $8.4m
• BNX — $24,300
• NOAHP — $1,000
• QDAO — $63,000
• The total average daily volume on the exchange is $63m.

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