Beginning of the week: BTC has little fluctuations, the new site, which is oriented on liquidity. PwC Backs Stablecoin, it showed a new record. Instead of price, this time it showed the lowest possible volatility, which is already progress towards stability. In the last 2 weeks, Bitcoin has shown stability unprecedented in more than a year and a half. Its price did not move far from the price of about 6600 dollars. It was a cryptocurrency with the lowest volatility at this time.
According to some experts, this is an indicator of market maturation. Mike McGlone, Bloomberg stock analyst said: “When you have a new market, it will be volatile until it establishes itself. There are more participants, more derivatives, more ways of trading, hedging and arbitraging.” There is certainly no way to say for sure that this is BTC stabilization, maybe it’s just a pause before a new rise, but such a long period of stabilization is significant.
Altcoins meanwhile show a completely different state. After stuffing of unverified information about the resurfaced of the Coinbase, 0x (ZRX) increased by 12% over the past day. Apparently, the past information was convincing and traders took it as a guide to action. Ethereum-based token was added to Coinbase, which gave it a significant boost.
To launch the latest stable cryptocurrency PwC Backs Stablecoin cooperates with Cred
“PwC’s commitment to the crypto community at large sends a very strong message to retail investors, mainstream financial services providers and the crypto enthusiasts that the world is moving toward decentralization, transparency and accountability in a system that will evolve beyond the need for trusted intermediaries,” said Dan Schatt, Cred co-founder. PWC (Pricewaterhouse Coopers), the second largest auditing company in the world, decided to cooperates with Cred in order to create an analogue of the US dollar in the world of cryptocurrency in terms of stability. They are going to launch a platform for tracking and analyzing tokens ICO. To which the PwC spokesman Grainne McNamara said, “We are excited to work with Cred to help increase industry awareness regarding how the asset-backed digital token ecosystem can be secured and scaled on behalf of participants”. This will be a significant step in the development of the world of blockchain companies and the cryptocurrency space in general.
Liquidity instead of market capitalization
In the world of cryptocurrency there is a topic for discussion along with the new site Coinmarketbook.cc, which ranks cryptocurrency projects not by total market capitalization, but by their liquidity. This changes the approach to evaluating cryptocurrency and such projects in general. Percentages of cryptocurrency in the market show the total demand for them. The site analyzes the purchase orders on the stock exchanges, thereby determining the levels of support for cryptocurrencies. According to the site analytics, it turns out that BTC has, with 1417% of purchase orders, according to the data of the 10 largest exchanges, followed by Ethereum (ETH) by 23%. Then there is a significant gap and the next cryptocurrency has only 3% of purchase orders. Most cryptocurrencies, therefore, have minor performance, even popular and well-known projects from the top-10. But this reflects the real picture of what is happening on the cryptocurrency market.