According to research conducted by Binance 2019 "Q3 Crypto-Correlations Review" confirmed that Bitcoin is still the volume leader and the most popular cryptocurrency.

Despite falling over nearly 30% since late June and reaching a high of USD 13,868 the volume still held up. The report showed that more than 40 per cent of all of Bitcoin’s trading activity on Binance was against stablecoin pairs. Trades executed with Bitcoin amounted to 70% of all trade through the exchange.

“The third quarter of 2019 exhibited adverse price movements, breaking the two consecutive quarterly price gains in Q1 and Q2. In Q3, Bitcoin price dropped by nearly 30%, closing on September 30th at around $8000. In comparison, BTC trading dominance fluctuated around 15-25% for the first half of 2019.”

Below is the comparison table from the report.

Binance comparison

The report concluded by saying “Over the third quarter of 2019, the average correlation between Bitcoin and most other large cryptoassets remained in line with the previous quarter. However, the average correlation among large cryptoassets increased in Q3 2019 with a significant positive increase in the corrections of BNB, Chainlink and Bitcoin SV with other cryptoassets.”.

Today Bitcoin price action is weak, since hitting the recent high in late June price action has been choppy, to say the least. Even recently BTC/USD broke out of its recent consolidation area only to move back in after the bulls could not catch anymore momentum. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Cash price analysis: BCH/USD inching closer to flag pattern breakout

Bitcoin Cash is intentional with this current bullish momentum. The price has been able to sustain above the short-term ascending channel despite testing it twice. The brief deep under $220 support saw Bitcoin Cash make a comeback above $225. 

More Bitcoin Cash News

Ethereum market update: ETH/USD locked in a range after the recent sell-off

ETH has been moving in a tight range after a strong sell-off from the recent high of $197.00. The second-largest con with the current market value of $19.8 billion has recovered from October 12 low of $177.22 to trade at $183.50 at the time of writing, however, the upside momentum is weak. 

More Ethereum News

TRON price analysis: TRX/USD may retest the recent high

At the time of writing, TRX/USD is changing hands at $0.0166. The coin has gained over 4.5% in seven 24 days, and the upside momentum is still strong. Currently, TRON takes 11th place in the global cryptocurrency market rating with a market value of $1.1 billion and an average daily trading value of $638 million.

More Tron News

EOS mainnet used in tokenizing Deutsche Bank bond

The Deutsche Bank dBonds team has successfully tokenized the bank’s bond on EOS mainnet. The tokenization took place in collaboration with Queen Street Finance, an authorized UK-based custodian. Queen Street Finance already has a stablecoin digital asset DUSD that runs on EOS protocol.

More EOS News


Bitcoin Weekly Forecast: BTC bulls trapped below SMA200 daily

Bitcoin bulls have had a short glimpse of victory only to suffer a bitter disappointment this week.

Read the weekly forecast