BTC consolidation continues as crypto market chills and COVID-19 intensifies

Today’s edition of OKEx Insights’ Crypto Market Daily covers Bitcoin, Ethereum, altcoins and DeFi.

The price of BTC and major altcoins have seen slight declines over the past 24 hours. The cryptocurrency market leader is currently trading at 19,131 USDT on OKEx and is down less than 1% across most global cryptocurrency exchanges. ETH and XRP, meanwhile, are down just over 1% and 2%, respectively.

The slight market pullback has decreased the total cryptocurrency market capitalization by just under 1% to $573,898,638,917, as per data from CoinGecko. BTC dominance, meanwhile, is now 61.9%.

Despite fiscal stimulus plans solidifying, the optimism found in the traditional markets last week is currently nowhere to be found. Instead, participants are focusing primarily on the worsening COVID-19 pandemic in the United States, Europe and Hong Kong. At the same time, GBP plummeted for a third straight day — though it is not the only fiat currency under pressure from geopolitical issues or coronavirus-induced economic stimulus.

Top altcoin gainers and losers

• VALUE/USDT +26.70%
• CNTM/USDT +19.16%
• GHST/USDT +16.45%
• INX/USDT -10.80%
• XEM/USDT -12.34%
• QUN/USDT -15.82%

Top performers on OKEx continue to see greater price changes than the worst performers. XEM is probably the most notable altcoin on the list of losers, today — the 18th-ranked cryptocurrency is down more than 12%.

Please visit https://www.okex.com/ for the full report.

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BTC consolidation continues as crypto market chills and COVID-19 intensifies was originally published in OKEx Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.