Summer Activity Slows in Crypto

ICO News, Investing, News | July 6, 2017 By:

Narrow-range trading continued with bitcoin today, as prices held in the $2,600 per single coin range. The Block Tribune Volatility Index, which measures activity in bitcoin pricing, showed the BTVI at 39.6, continuing its downward march of the last week.

Despite analyst predictions that bitcoin will soon be booming, it’s clear that nervous investors are taking a wait-and-see approach to the market. The proposed network upgrades of SegWit set for the end of the month could have a major impact on pricing and other issues.

Ethereum’s single-coin pricing at mid-day sat at $268, reflecting a summertime stall in the formerly wild swings that marked its activity last month. The market continued to try and make sense of recent scaling issues wrought by an abundance of ICOs and exchange volume issues.

Litecoin held steady at the $51 mark, near its all-time high. Litecoin has seen a surge of interest lately, most recently from a partnership with BitGo, the security firm that works with many exchanges. BitGo’s involvement is a major green light and should spur renewed activity from platforms and services for Litecoin.

Dash ($214) had its second straight day of strong gains, while Monero ($48) was up three percent. Ripple’s XRP held at $0.254152.



Bitcoin market highlights for the 24 hours ending July 6, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $2,652.00 on the Gatecoin exchange at 6:30 pm yesterday. Gatecoin saw $7,957,010 of bitcoin change hands.

The lowest price seen was $2,502.12 on CoinsBank’s exchange at 1:30 am today. CoinsBank’s 24 hour volume was $4,877,840.

The average price on the surveyed exchanges, as weighed by volume, was $2,586.61.

The Block Tribune Volatility Index showed lower than average activity, with the BTVI index coming in at 39.6. A higher number indicates greater price volatility, with 50 describing an average day.

These statistics were consolidated from 13 different exchanges. It includes only USD/BTC trades and only on those exchanges that had at least 1% of the total volume of USD/BTC trades during the measurement period.