Market Roundup: Bitcoin Rests Under $60,000

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In Brief
  • Bitcoin price and volume were up slightly in the last 24 hours.

  • Ethereum and the rest of the top-5 were also quiet.

  • VeThor Token, ranked 100th for some time, jumped 88.4% in the last 24 hours, then sank.

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The weekend started quietly for cryptocurrencies, with Bitcoin and the rest of the top-6 hardly budging.

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Bitcoin Rests

Bitcoin moved slightly upward as the weekend started. The coin broke $60,000 only briefly over the period, after dipping below $58,500 on occasion. Volume remained steady, and almost always above $50,000,000,000.

BeInCrypto noted that the Bitcoin supply is declining to levels not seen at this point in cycles previously. At the same time, more BTC users are piling in, and the uptake is approaching levels seen in late 2017. Analytics firm Glassnode points out that BTC liquidity recently dropped to the second-lowest level in the last three years.

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Source: Coingecko.com

Ethereum Flat

Like Bitcoin, Ethereum lay essentially flat as the weekend opened. Activity and price largely tracked with BTC, and the price has moved within a band in the $1800 range all day. Volume has risen slightly, to over $28,500,000,000.

Source: Coingecko.com

BeInCrypto also pointed out today that LINK supply is dropping in the same manner as Bitcoin. Glassnode reports that two of the three largest LINK withdrawals off exchanges happened on Feb. 23 and Mar. 7.

Source: Coingecko.com

Rugpull on BSC

A hack on BSC left observers puzzled. TurtleDEX closed up shop suddenly on Mar 19., with Twitter users pointing to the fact that the project was actually well-liked ans was gaining organic attention. It could have been viable, but apparently, the 9000 BNB the owners scammed seemed worth it to them.

Biggest Top 100 Gainer

At the time of writing, BitTorrent (BTT) led gainers with a 54.8% jump. Most coins show decreasing volatility, and none of the ten fastest-rising coins over the last 24 hours are moving at even 1% an hour at the time of writing.

One coin not currently in the top-100 is VeThor (VTHO). It ranked 100th and posted an 88.4% gain, but sank, along with the gains registered earlier in the day. At publishing time, it ranked 104th.

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James Hydzik is a finance and technology writer and editor based in Kyiv, Ukraine. He is especially interested in the development of regulation in the face of increasingly rapid technological change. He previously covered the CEE region for Financial Times banking and FDI magazines. An ardent believer in gut renovating eastern Europe one flat at a time, he currently holds more home renovation gear than crypto.

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