Cryptocurrency market recovered some ground this week

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Cryptocurrency market recovered some ground this week

With just a few days before Christmas, a ray of hope was shed on the cryptocurrency market. After hitting rock bottom at $100 billion USD last Monday, the sector finally moved up, reaching a promising $131 billion of total capitalization on Thursday.

recupearción-mercado

There was plenty of movement this week in the cryptocurrency Top 10, and especially in the Top 5, which returned to the order it had shown over the last few months.

Bitcoin recovered around $800 dollars and settled at $4,102. Ripple was the only cryptocurrency in red numbers ($0.373321); however, the graphic shows it’s moving up, so it might end up green any time soon.

Ethereum got back some dignity by reaching $110 USD to keep the 3rd place; if everything goes well, ETH might recover the second place it lost in recent weeks.

Bitcoin Cash delivered another surprise: After placing 7th last week, its bullish trend took it to 4th with a total value of $182.

EOS also climbed some spots, placing 5th with a value of $2.67 dollars. Stellar ($0.122986) is sixth, while Litecoin recovered some ground and climbed to seventh place at $31.98 USD.

recupearción-mercado

So, it seems the overall market is moving upward and waters are returning to their level. Some important businessmen forecast a positive future for the digital sector.

That’s the case of Changpeng Zhao, CEO and co-founder Binance Exchange, who was interviewed by Bloomberg’s Tracy Alloway and Yousef Gamal, and talked about the market forecasts and his company’s growth strategies.

Zhoa defined 2018 as the “correction year.” Questioned about how this correction affected Binance’s growth, he replied: “Our strategy has not changed at all, we’re still pushing forward very aggressively.”

The Chinese-Canadian businessman said the company made a strategic launch of a fiat Exchange and will probably launch 10 more in 2019.

He also underscored a positive future for the cryptocurrency market, mentioning the apps and platform developers, while making an argument that they will be the ones pushing the market’s growth and innovations.

In addition, Binance has gone from being just a cryptocurrency Exchange to become a more integral company. For example, there’s the launching last August of the “Incubator” program, which already created its first batch of block chain projects, for which the initiative provided financing and consulting.

On top of that, the company is still benefiting people around the world through the “Bianance Charity Foundation.” They recently launched a program in favor of terminally ill patients and vulnerable children in Malta and Gozo.

 

By Omar Cortés

Graphics: CMC

Source: Bloomberg

  • Lic. Omar Cortés

    Lic. Omar Cortés

    El Mtro. Omar Cortés cuenta con estudios de Licenciatura en Psicología y Grado Master en Administración de Recursos Humanos. Se especializó en Psicoterapia a través del enfoque de Carl G. Jung, además de Ética y Valores Humanos.

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