Markets Stabilise but Bitcoin Lagging - Mine Digital
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Markets Stabilise but Bitcoin Lagging

September 10, 2020 • 
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Risk assets have recovered overnight, with many digital assets (sans Bitcoin) staging strong recoveries. We expect bitcoin to trade higher by days end.

Morning Traders,

Risk assets recovered overnight after an aggressive sell-off from all-time highs. Due to the fed put, the move now is probably to sell volatility until the end of time.

We have expected this situation, and we have expected gold – as a store of value – to rally instead of risk assets selling.

Bitcoin

Of course bitcoin should also catch a bit in this outcome (risk return + gold held up), which has been lagging risk, gold AND cryptocurrencies at its current levels. It really seems like the asset should be doing something, either trading much higher or slinking back into its range $7000-$9000- but it has recently struggled to make a definitive move in a direction.

BTC last traded at 10223

24 hr high: $ 9,981

24 hr low: $ 10,353

BTC/USD Chart

Ethereum

After looking like the weaker token the last couple of days, Ethereum made a stronger move than the rest of the space recently, last trading at $352

24 hr high: $ 359

24 hr low: $ 330

ETH/USD Chart

Digital Assets

USDC transactions are increasing at a very rapid pace after being transacted on the Algorand network. Algo is up 20% overnight.

Many digital assets have recovered well overnight.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.67565323.39397,517,687.00$848,439,548.00
Algorand$ALGO0.41462619.87026132,798,367.00$328,944,214.00
Aragon$ANT4.4711.0129538,131,700.00$156,058,545.00
Balancer$BAL21.115.4866559,651,442.00$160,933,308.00
Bancor$BNT1.1812.8627156,141,803.00$77,575,106.00
Cardano$ADA0.0931812.52891523,123,679.00$2,898,388,245.00
Chainlink$LINK12.385.62365921,731,213.00$4,766,036,126.00
Compound$COMP176.961.8525363,740,467.00$587,405,007.00
Curve Finance$CRV1.977.2322378,558,241.00$81,176,692.00
Dai$DAI1.030.65331201,299,923.00$440,726,926.00
Kyber Network$KNC1.223.2989840,876,601.00$240,672,300.00
Loopring$LRC0.21229120.4998154,922,417.00$253,962,769.00
Maker$MKR523.953.3173143,780,725.00$474,003,596.00
Meta$MTA4.3613.348218,409,751.00$20,345,101.00
mStable USD$mUSD0.997407-0.967921,505,397.00$21,388,917.00
Ren$REN0.32057716.2405847,077,651.00$281,602,575.00
Reserve Rights$RSR0.0179437113.3488349,727,105.00$122,394,489.00
Stellar$XLM0.0783751.12208106,253,533.00$1,617,374,991.00
Synthetix$SNX4.9717.2175959,652,092.00$587,791,914.00
Tezos$XTZ2.541.46604137,446,855.00$1,836,577,851.00
Universal Market Access$UMA16.234.6124738,880,533.00$888,238,108.00
yearn.finance$YFI2770423.84168389,223,165.00$837,709,498.00

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