Crypto Market Update Down Under March 2020!

It’s been a horror week across every financial market and asset class, and crypto is no exception. Late last week the price plunged 52% in 24 hours – before bouncing off the bottom – for the Bitcoin halving nobody wanted. Bitcoin is currently trading above $9,000 and finishes the week 32% down. Despite this, it’s only lost 22% in 2020 so far. The only coins in the green this week were stablecoins like Tether and USDC – both up around 6% during the crash as investors tried to cash out. The Tether market cap has increased above US$5 billion for the first time and USDT on exchanges hit an all time high of $1.23 billion. Ethereum is down 42% for the week, XRP lost 30.3%, Bitcoin Cash (-32.3%), Litecoin (-32%), Bitcoin SV (-44%), EOS (-35%) and Stellar (-28%).

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