Digital Asset Insights 20.06.23

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This post was originally published on Trademakers

courtesy of trademakers

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Bitcoin (BTC)

digitalassetinsights_bitcoin

Bitcoin (BTC) experienced a roller-coaster ride throughout the week, displaying significant fluctuations in its price and trading volume. On Monday, June 12, 2023, BTC opened at $25,906.8. However, it faced immediate resistance as the price gradually declined throughout the day. By the closing bell, Bitcoin had reached $25,635.0, marking a decrease of 0.08% compared to the opening value. Trading volume stood at 40.75K during the day.

 

Tuesday, June 13, saw a recovery for Bitcoin as its price hovered around the $26,000 range. Despite fluctuating between $25,906.9 and $26,428.9, the cryptocurrency closed with minimal gains, rising by a mere 0.09%. The trading volume on this day reached 56.24K.

 

The cryptocurrency market witnessed significant volatility on Wednesday, June 14. BTC opened at $25,129.5, and although it briefly reached a high of $26,051.7, it was unable to maintain its momentum. By the end of the day, Bitcoin had dropped to $24,847.4, recording a loss of 3.08%. The trading volume remained moderate at 60.82K.

 

Thursday, June 15, brought a notable recovery for Bitcoin as it surged from $25,129.5 to $25,732.8. The day ended with a gain of 1.84%, providing a glimmer of hope for investors. The trading volume saw a significant increase, reaching 68.38K.

 

However, Friday, June 16, turned out to be a particularly bullish day for Bitcoin. The cryptocurrency opened at $26,341.3, reached a high of $26,472.8, and closed at $25,276.0. This resulted in a daily gain of 2.93%. The trading volume surged to 69.24K, reflecting the heightened interest in BTC.

 

Bitcoin’s upward momentum continued into Saturday, June 17, as it opened at $26,515.0. The cryptocurrency experienced volatility throughout the day, touching a high of $26,767.3 and a low of $26,183.5. Ultimately, it closed at $26,341.3, marking a 0.66% gain. The trading volume escalated significantly to 35.86K.

 

The final day of the week, Sunday, June 18, brought a decline for Bitcoin. Opening at $26,339.7, it struggled to maintain its position, dropping to $26,290.6 by the closing bell. This resulted in a loss of 0.66%. The trading volume during the day stood at 27.31K.

Ethereum (ETH)

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The week kicked off on Monday, June 12, 2023, with Ethereum opening at $1,742.60. However, the cryptocurrency faced resistance and gradually declined throughout the day. By the closing bell, Ethereum had reached $1,722.92, representing a decrease of 0.58% compared to the opening price. The trading volume for the day stood at 320.47K.

 

Tuesday, June 13, saw Ethereum continuing its downward trend. Opening at $1,739.60, the cryptocurrency struggled to regain momentum and closed at $1,727.64, recording a modest loss of 0.17%. The trading volume reached 303.23K, indicating moderate activity in the market.

 

Wednesday, June 14, proved to be a challenging day for Ethereum. Starting at $1,650.96, the cryptocurrency faced significant selling pressure, resulting in a drop to $1,636.49 by the end of the day. Ethereum registered a decline of 5.10% and witnessed a relatively high trading volume of 451.13K.

 

However, Thursday, June 15, brought a glimmer of hope for Ethereum as it started to recover from the previous day’s losses. The cryptocurrency opened at $1,666.96 and gradually climbed throughout the day, closing at $1,632.50. This represented a gain of 0.97%, accompanied by a trading volume of 397.40K.

 

Friday, June 16, marked a significant turning point for Ethereum as it showcased notable bullish sentiment. Opening at $1,717.92, the cryptocurrency surged to a high of $1,728.35 before settling at $1,653.68 by the end of the day. Ethereum experienced a substantial gain of 3.06%, with the trading volume surging to 333.35K.

 

On Saturday, June 17, Ethereum continued its upward trajectory. Starting at $1,727.79, the cryptocurrency reached a high of $1,764.06 and closed at $1,714.30. This resulted in a gain of 0.57%, accompanied by a significantly higher trading volume of 227.93K.

 

The final day of the week, Sunday, June 18, brought a minor decline for Ethereum. Opening at $1,720.98, the cryptocurrency faced resistance and closed at $1,715.90, reflecting a marginal loss of 0.39%. The trading volume during the day stood at 167.46K.

Ripple (XRP)

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The week kicked off with XRP, the popular digital asset, experiencing a moderate uptick in value on Monday. The coin started the day at $0.52500, and despite a brief dip, closed at $0.50913, marking a gain of 0.82% over the course of the day.

 

On Tuesday, June 13th, XRP encountered a significant downturn. The price started at $0.51911 but dropped to $0.50579, representing a decline of 1.12%. The trading volume, however, soared to an impressive 1.02 billion, indicating active market participation despite the price dip.

 

Wednesday, June 14th, witnessed a volatile session for XRP. The coin began at $0.48011, climbed to $0.52028, but ultimately settled at $0.46568, resulting in a substantial decrease of 7.51%. The trading volume during this tumultuous period reached an impressive 718.20 million.

 

Despite the previous day’s turbulence, XRP rebounded on Thursday, June 15th. Starting at $0.48031, the digital asset remained relatively stable throughout the day, closing at $0.46822 with a minimal gain of 0.04%. The trading volume remained robust, reaching 461.32 million.

 

Friday, June 16th, brought some respite to XRP holders as the coin started the day at $0.47579 and managed to reach $0.48309. However, it closed the day at $0.45732, resulting in a decline of 0.94%. The trading volume remained high, totaling 504.55 million.

 

The week concluded on Saturday, June 17th, with XRP experiencing a modest rebound. Starting at $0.47940, the coin climbed to $0.48611, ending the day at $0.46953, representing a gain of 0.76%. The trading volume stood at 247.75 million.

 

Closing the week on Sunday, June 18th, XRP showed signs of strength, as it rose from $0.48699 to $0.49750. The coin closed the day at $0.47540, marking a gain of 1.58%. The trading volume reached 298.36 million. XRP enthusiasts closely observed the coin’s price movements throughout the week. Despite the volatility, XRP demonstrated resilience by consistently attracting substantial trading volumes.

Cardano (ADA)

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Cardano (ADA), the blockchain platform aiming to revolutionize decentralized applications, experienced a week filled with price fluctuations and challenges. On Monday, June 12th, ADA opened at $0.2747 and initially showed promise, reaching $0.2863. However, it closed the day at $0.2657, indicating a modest gain of 1.01%. The trading volume stood at a substantial 267.25 million.

 

Tuesday, June 13th, brought some stability to Cardano’s price. Opening at $0.2751, ADA fluctuated within a narrow range, closing at $0.2691, representing a minor gain of 0.14%. The trading volume remained robust, reaching 188.11 million.

 

Wednesday, June 14th, marked a challenging day for Cardano as ADA struggled to maintain its upward momentum. Opening at $0.2634, ADA briefly climbed to $0.2772 before experiencing a sharp decline. It closed the day at $0.2578, resulting in a substantial decrease of 4.26%. The trading volume reached 147.59 million.

 

Thursday, June 15th, brought further disappointment for Cardano as the price dipped from $0.2621 to $0.2529, representing a decline of 0.49%. The trading volume, however, saw a significant increase, reaching 158.89 million.

 

Friday, June 16th, witnessed a modest recovery for ADA. The cryptocurrency opened at $0.2632 and remained relatively stable throughout the day, closing at $0.2548 with a marginal gain of 0.42%. The trading volume stood at 100.81 million.

 

Saturday, June 17th, provided some relief for Cardano. ADA started at $0.2667 and climbed to $0.2734 before settling at $0.2607, marking a gain of 1.34%. The trading volume surged to 99.63 million.

 

Sunday, June 18th, proved to be challenging for Cardano as ADA faced a downward trajectory. Opening at $0.2610, the cryptocurrency struggled and closed at $0.2594, representing a decline of 2.15%. The trading volume stood at 74.74 million.

Solana (SOL)

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Solana, the blockchain platform known for its scalability and speed, began the week with a ride for its native cryptocurrency. On Monday, June 12th, Solana (SOL) opened at $15.190, but faced downward pressure throughout the day. Ultimately, it closed at $14.759, representing a decrease of 2.32%. The trading volume stood at 6.09 million.

 

Tuesday, June 13th, brought further challenges for SOL as its price dipped from $15.038 to $14.780, indicating a decline of 1.00%. The trading volume remained relatively high at 5.77 million, showcasing active participation despite the price drop.

 

Wednesday, June 14th, saw Solana attempting a recovery. Opening at $14.488, SOL climbed to $15.336 but closed at $14.140, resulting in a decline of 3.66%. The trading volume remained significant, reaching 4.82 million.

 

Despite the previous day’s setback, Thursday, June 15th, brought some relief for Solana. The price started at $14.787 and steadily rose to $15.049 before closing at $14.189, marking a gain of 2.07%. The trading volume saw a notable increase, reaching 5.38 million.

 

On Friday, June 16th, Solana continued its upward momentum. The cryptocurrency opened at $15.320 and reached a high of $15.450 before settling at $14.454, resulting in a gain of 3.60%. The trading volume remained robust, totaling 3.94 million.

 

The weekend began on a positive note for Solana as Saturday, June 17th, witnessed further growth. SOL opened at $15.640 and reached a high of $16.093, closing the day at $15.170, representing a gain of 2.09%. The trading volume surged to 3.12 million.

 

However, Sunday, June 18th, brought a downward turn for Solana’s price. Opening at $15.448, SOL experienced a decline and closed at $15.340, resulting in a decrease of 1.23%. The trading volume stood at 1.94 million.

Tether (USDT)

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Tether (USDT), the popular stablecoin known for its peg to the US dollar, exhibited a week of relative stability as minimal price movements were observed. Beginning on Monday, June 12, USDT opened at $1.0000, setting the tone for a week characterized by subtle fluctuations.

 

On Tuesday, June 13, USDT remained within a narrow trading range. Opening at $0.9999, the stablecoin showed marginal movement throughout the day, closing at $1.0000. The trading volume stood at 80.35 million, reflecting a steady market.

 

Wednesday, June 14, saw a similar trend as USDT maintained its stability. Opening at $0.9998, the price edged slightly higher before settling at $0.9999. The trading volume stood at 96.43 million, indicating consistent market interest in the stablecoin.

 

Thursday, June 15, witnessed a slight decline in USDT’s value. Opening at $0.9993, the stablecoin faced downward pressure and closed at $0.9993, representing a modest 0.05% decrease. The trading volume remained substantial at 231.70 million, reflecting continued market activity.

 

The stability of USDT continued on Friday, June 16, as the coin exhibited minimal price movements. Opening at $0.9995, USDT closed at $0.9995, with a trading volume of 112.87 million. This further solidified USDT’s reputation as a reliable stablecoin option.

 

Saturday, June 17, brought another day of stability for USDT. Opening at $0.9999, the stablecoin experienced minor fluctuations throughout the day, eventually closing at $0.9999, representing a negligible 0.02% increase. The trading volume stood at 27.96 million, indicating consistent market interest.

 

As the week concluded on Sunday, June 18, USDT continued to demonstrate its stability. Opening at $1.0001, the price remained relatively unchanged throughout the day, closing at $1.0000, representing a minimal decrease of 0.02%. The trading volume stood at 20.22 million, suggesting a quieter trading day.

 

USDT’s ability to maintain its peg to the US dollar throughout the week highlights its reliability as a stablecoin in the cryptocurrency market. Amidst the inherent volatility of other digital assets, USDT serves as a crucial tool for traders and investors to hedge against market fluctuations and store value.

Binance Coin (BNB)

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On Monday, June 12, BNB opened at $231.29 and witnessed fluctuations throughout the week. On Tuesday, June 13, BNB experienced a surge in value, reaching as high as $246.53, with a trading volume of 1.30 million. This represented a remarkable 5.58% increase compared to the previous day. However, the bullish trend proved to be short-lived as the coin faced selling pressure, resulting in a decline.

 

On Wednesday, June 14, BNB fell by 2.58%, closing at $237.89. The market saw increased trading activity, with a substantial trading volume of 1.03 million. This decline signaled a shift in investor sentiment, possibly influenced by profit-taking or other market factors.

 

Thursday, June 15, witnessed further decline as BNB closed at $236.49, down 0.59% compared to the previous day. Despite the drop, the trading volume remained relatively high at 645.96K, indicating sustained interest in the cryptocurrency.

 

The market displayed signs of recovery on Friday, June 16, with BNB experiencing a modest increase. It opened at $239.38 and closed at $236.49, reflecting a 1.22% gain. The trading volume remained robust at 596.48K, suggesting renewed confidence among traders.

 

Saturday, June 17, witnessed another positive trading session for BNB. The coin opened at $244.60 and closed at $239.38, marking a 2.18% increase. The trading volume surged to 511.26K, indicating renewed buying interest and positive market sentiment.

 

As the week concluded on Sunday, June 18, BNB faced slight downward pressure. The coin opened at $244.10 and closed at $244.60, experiencing a negligible decline of 0.20%. The trading volume stood at 373.87K, suggesting a relatively stable trading day. Despite the overall downward trend seen earlier in the week, the market displayed signs of resilience and a potential recovery.

The post Digital Asset Insights 20.06.23 first appeared on trademakers.

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