The price of bitcoin is increasing amid rising trading volume

A week ago the bitcoin exchange rate fell steadily and almost every day I updated the lows. But in the last few days, the main cryptocurrency shows quite a sharp rise. For the last 8 hours the exchange rate rose by more than 5% and has climbed above 6,600 USD per 1 BTC. The price broke through the line local downward trend since may 5.

With bitcoin growing and the market alithinou: ETH rose to 6% and is trading at $470, EOS IOTA increased by more than 10% and are trading around $9 and $1.15, respectively. In General, the cryptocurrency of the first hundred went up by an average of 7-9%, but there are those that increased by 15-20%, for example, NEM – 17% or Bytecoin – 20%. Total market capitalization is thus very close to $270 billion, despite the fact that last week this figure was at $230 billion, the Index of dominance of bitcoin has grown up and is now at the level of 41.9%

Analyst Joseph young (Joseph Young) noted that the sharp growth rate is accompanied by increased activity of the cryptocurrency traders. In the last 24 hours only via bitcoin and ether held $5.5 billion and $1.8 billion respectively. While only a few days ago, these figures were $3 billion and $1 billion.

Bitcoin volume is back to $5.5 billion, Ethereum volume back to $1.7 billion.

Last week, BTC volume was $3 billion ETH $1 billion. Strong volume, strong momentum.

Not extremely significant but rather see green than red! pic.twitter.com/C2jFhuYn9a

— Joseph Young (@iamjosephyoung) July 2, 2018.

In addition, the cryptocurrency exchange BitMex reports on the liquidation of large short positions.

Liquidated short on XBTUSD: Buy 10,000,000 @ 6519

— REKT (@BitmexRekt) July 2, 2018.

In just a few minutes before jump in the market exchange Coinbase has officially
announced the opening of a new service Coinbase Custody, for the storage of cryptocurrency assets of institutional investors.

«Last week, Coinbase took Custody first Deposit. Today we’re proud to announce that we are officially open for business. In the coming weeks we will continue to work on the set of world-class clients that include leading cryptocurrency hedge funds and exchanges, and ICO projects,» reads the official statement of the company.

In Coinbase claim that today the company is responsible for the storage of cryptocurrency assets worth more than $ 20 billion.

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