Digital Assets Recover after Tough Weekend - Mine Digital
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Digital Assets Recover after Tough Weekend

September 7, 2020 • 
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With the end of Fridays equity session in the US ambiguous, digital assets had sold off over the weekend before alts staged a comeback overnight.

Morning Traders,

There’s been plenty of movement in markets since Friday, with the S&P500 volatile, trading much lower but retracing a good part of the move. Bitcoin and Ethereum have both been soft, leading the S&P500. Some stocks in the Nasdaq had led all of the moves.

This week will be about whether this is in the past or it is the start of a reversal in risk assets and it will remain to be seen whether Bitcoin and digital assets act as a risk asset, are influenced by gold or make their own moves.

There has been strong recovery in some alt-coins which had been very sold-off over the weekends 48 hour period.

Bitcoin

Bitcoin has traded down to significant support levels, stabilising over the weekend. The question for Bitcoin is in whether it trades back below $9,350 and into its long-term range or is bid from the support level or trend-line before resuming its bullish trend. Bitcoin has been bid well from the $10k mark.

Bitcoin last traded at $10,208

24 hr high: $ 10,351

24 hr low: $ 9951

BTC/USD Chart (Weekly)

BTC/USD Chart

Ethereum

Eth has been more volatile than Bitcoin to the downside but has bounced strongly since making a low of sorts.

24 hr high: $ 360

24 hr low: $ 316

ETH/USD Chart

Digital Assets

Alts staged some strong recoveries over the last 24 hours.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.58152410.952969387878723354035
Algorand$ALGO0.36971110.12606165231329296581831
Aragon$ANT4.711.6774242298084162646672
Balancer$BAL20.9114.1549745145988156523082
Bancor$BNT1.1818.071946455330176768890
Cardano$ADA0.0927073.218343369076952887241282
Chainlink$LINK12.6920.7597414924150524907289127
Compound$COMP168.757.3241895533116557973637
Curve Finance$CRV2.1518.2398212059964078026237
Dai$DAI1.020.08335191833489432277048
Kyber Network$KNC1.278.0595671340661251322195
Loopring$LRC0.18381410.4740360427161214439324
Maker$MKR541.376.2764566256636487454228
Meta$MTA4.5311.64113859147620567898
mStable USD$mUSD0.999821-0.09953229334923213238
Ren$REN0.2956325.7344193421726259813783
Reserve Rights$RSR0.0182373914.7289152269916125283447
Stellar$XLM0.0778113.658531825278211603798026
Synthetix$SNX4.9716.6507181341248587321599
Tezos$XTZ2.554.253912133701511843853740
Universal Market Access$UMA16.0940.0846722287391878995599
yearn.finance$YFI2376210.3223388704060707969191

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