Bitcoin Archives - 21000NEWS

UrbanJanuary 11, 2019
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7min377
  • Bitcoin price struggled to break the USD 4,000 resistance and declined recently.
  • Ethereum is down 10% and ripple price broke the key USD 0.350 support.
  • HOT and NPXS trimmed yesterday’s gains and declined more than 15% today.

There was a yet another failure to break the USD 4,000 resistance, resulting in bearish moves in bitcoin. BTC/USD declined recently and broke the USD 3,925, USD 3,850 and USD 3,800 support levels to enter a short term bearish zone. More importantly, there was a sharp decline in ethereum below the USD 145 and 140 support levels. Similarly, ripple price failed to surpass the USD 0.365 and USD 0.370 resistance levels. XRP/USD declined below the USD 0.355 and USD 0.350 supports, signaling an increase in selling pressure. 

Total market capitalization

Bitcoin and Altcoins Facing Renewed Selling Pressure (UPDATED 2) 101
Source: coinmarketcap.com

Reasons for the drop

“Many have been asking about the sudden drop in the crypto markets this morning. In my view, there doesn’t seem to be any real reason for this drop, neither technical nor fundamental. The one interesting thing about this movement is that it seems to be an exact reversal of the surge that happened on Sunday afternoon. At this point, the gains made since the start of the year have now been reversed and we’re back to a neutral 2019,” according to Mati Greenspan, Senior Market Analyst at eToro, a social trading platform.

Meanwhile, David Thomas, Co-Founder of London based cryptocurrency broker GlobalBlock, said that a few drivers “are rumoured to be behind the crypto sell off in the last 24 hours.”

“Firstly, there was a 51% attack on Ethereum Classic which resulted in the apparent double-spend of USD 1.1m of ETC. Naturally occurrences such as these can tend to cause some fear in the market surrounding overall security and confidence surrounding both cryptocurrencies and blockchain technology itself. Secondly, there was also talk today of a ‘whale’ moving ETH 319,000 (USD 68m) onto an exchange today which may well have spooked the market to further sell-offs. Thirdly, ETH has risen off its lows before Christmas by some 80% and any weakness can often lead to a trigger of profit taking from those that managed to catch the lows around USD 82 in December,” Thomas said.

“Lastly, it is worth noting that today’s move yet again highlights how volatile digital assets can be and we can expect them to remain volatile, at least until there’s further institutional involvement in the space,” he added.

Bitcoin price

Buyers struggled to push bitcoin price above the USD 4,000 barrier on a couple of occasions. As a result, sellers took control and pushed BTC below the USD 3,925, USD 3,850, USD 3,800 and USD 3,780 support levels. The price is down around 5% (UTC 08:00 AM) and an immediate support is positioned near USD 3,750.
If there is a break below the USD 3,750 support, the price may slide towards the USD 3,660 support. On the upside, the previous supports at USD 3,800 and USD 3,850 are likely to act as hurdles for buyers in the coming sessions.

Ethereum price

Ethereum price faced a strong selling interest below the USD 150 resistance. ETH/USD declined more than 10% and broke the USD 145, USD 140 and USD 138 support levels.
The price is currently trading near the USD 135 support, below which sellers could aim the next major support at 128. On the upside, an initial resistance is at USD 140, followed by USD 142.

Bitcoin cash, eos and ripple price

Bitcoin cash price also declined close to 10% and broke the USD 150 and USD 148 support levels. BCH/USD is currently testing the USD 140 support. If there are further losses, the price will most likely retest the key USD 125 support. The main resistances are USD 145 and USD 148.
EOS trimmed most its gains and declined below the USD 2.80 and USD 2.70 support levels. The price is currently trading near USD 2.65, with an immediate support at USD 2.62 and USD 2.60.
Ripple price failed to clear the USD 0.365 and USD 0.370 resistances, resulting in a drop below USD 0.355. XRP/USD even broke the USD 0.350 support and it may now trade towards the USD 0.342 support.

Other altcoins market today

Small cap altcoins also followed bitcoin and many coins declined more than 10%, including NPXS, HOT, BCZERO, STRAT, IOST, NEO, PPT, RVN, BNB, WTC and DCN. Out of these, NPSX declined more than 18% and HOT is down around 16%.

Overall, bitcoin failed to retain strength above USD 3,900. The recent bearish moves in BTC/USD below USD 3,850 are signaling an increase in selling pressure. If sellers remain in action and the price drops below USD 3,720, bitcoin and many altcoins could extend slides in the coming sessions. Moreover, a new triangle-shaped chart pattern may signal lower prices ahead, analyst Jesse Colombo at Clarity Financial, Houston-based registered investment advisor firm, warns.


UrbanJanuary 10, 2019
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5min735
  • Bitcoin price gained bids and recovered above USD 3,800.
  • Ethereum and ripple are slowly moving higher towards USD 155 and USD 0.365 respectively.
  • HOT and NPXS gained more than 15% today.

Yesterday, there was a short term downside correction in bitcoin below the USD 3,950 support. Later, BTC/USD recovered and traded above the USD 3,950, USD 3,975 and USD 4,000 levels. However, buyers failed to gain traction and later the price started trading in a range above USD 3,800. Ethereum also recovered a few points and tested the USD 150 resistance, with a bullish angle. Ripple price is slowly grinding higher and it seems like the price may rise towards the USD 0.365 resistance. The current bias is slightly bullish and there are chances of more upsides in bitcoin price above USD 4,000.

Total market capitalization

Bitcoin and Altcoins Might Gain Bullish Momentum 101
Source: coinmarketcap.com

Bitcoin price

After recovering above the USD 4,000 level bitcoin price corrected a few points. However, BTC/USD stayed above the USD 3,950 support and it is currently trading in a range. On the upside, an initial resistance is near USD 4,000, above which the price may climb towards the USD 4,050 and USD 4,100 resistance levels.
On the downside, an initial support is at USD 3,950, which will most likely act as a pivot area. A close below USD 3,950 could spark bearish moves towards USD 3,925 and USD 3,880 in the near term.

Ethereum price

Ethereum price recovered from the USD 145 support and traded above USD 148. ETH/USD is currently up close to 2% and it seems like it could break the USD 150 and USD 153 resistance levels.
The main resistance is at USD 155, above which the price may climb to USD 160. On the downside, an initial support is at USD 145, followed by USD 142 and USD 140.

Bitcoin cash, eos and ripple price

Bitcoin cash price is trading flat near the USD 155 level. A proper break above USD 160 is needed for a decent upward move. If BCH/USD fails to gain traction, it could correct lower towards the USD 150 and USD 148 supports.
EOS seems to facing a solid resistance near the USD 2.80 and USD 2.82 levels, above which the price may perhaps test the USD 3.00 resistance. The main supports are USD 2.72 and USD 2.68.
Ripple price is slowly moving higher and it recently broke the USD 0.360 resistance. If XRP/USD breaks the USD 0.365 and USD 0.370 resistances, there could be more gains.

Other altcoins market today

During the past few hours, many small cap altcoins gained more than 10%, including HOT, NPXS, LINK, NEO, VET, IOST, ZIL, CRO and AOA. Out of these, HOT rallied more than 24% and NPXS is up around 16%.

Clearly, the price action is positive for bitcoin above the USD 3,925 and USD 3,950 support levels. Still, a successful close and follow through above USD 4,000 is must for BTC/USD buyers to gain momentum. Similarly, if ethereum gains strength above USD 155, ETH/USD may rally towards the USD 165 and USD 170 levels.
_____


UrbanJanuary 9, 2019
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5min566
  • Bitcoin price corrected lower and settled below USD 4,000.
  • Ethereum and ripple started a short term downside correction.
  • DEX and ELA declined more than 12% today.

After a decent upward move above USD 4,000, bitcoin price started a downside correction. BTC/USD declined below USD 4,000 and USD 3,980 supports levels. The price is currently (UTC 08:30 AM) consolidating above USD 3,900 and USD 3,920 support and it could soon resume uptrend. Similarly, ethereum declined below the USD 150 support and it may correct further towards the USD 140 support. Ripple price struggled to hold gains above the USD 0.370 support and later corrected below the USD 0.362 and USD 0.360 supports. The current price action is slightly bearish, but dips in bitcoin and altcoins remain supported.

Total market capitalization

Bitcoin and Altcoins Remain Supported On Dips 101
Source: coinmarketcap.com

Bitcoin price

There is no successful close above the USD 4,000 level in bitcoin price . BTC/USD started a downside correction below USD 4,000 and declined below the USD 3,980 support. The price tested the USD 3,925 support and it is currently consolidating losses. To bounce back, the price must break the USD 3,980 and USD 4,000 resistance levels.
On the downside, an initial support is at USD 3,925, below which the price may decline further towards the USD 3,900 or USD 3,875 support level.

Ethereum price

Ethereum price started a downside correction below the USD 155 support. ETH/USD is down more than 4% and it is currently trading near the USD 146 support.
If the price declines further, it could test the USD 142 and USD 140 support levels. On the upside, an initial resistance is at USD 150 (the previous support), above which the price may move back in a positive zone towards USD 160.

Bitcoin cash, eos and ripple price

Bitcoin cash price declined recently below the USD 160 support. BCH/USD is down more than 4% and it may continue to move down towards the USD 152 and USD 150 support levels. On the upside, the main resistance is at USD 160, above which it could test USD 165.
EOS declined below the USD 2.75 support recently. It must stay above the USD 2.60 support to start a decent recovery. Resistances are seen at USD 2.75 and USD 2.82.
Ripple price failed to stay above the USD 0.370 support and declined below USD 0.365. The next major support is at USD 0.350, which could produce a short term bounce in XRP.

Other altcoins market today

During the past few hours, a few small cap altcoins declined more than 10%, including DEX, ELA, WAVES, WTC and LINK. Out of these, DEX dived more than 16% and ELA is down close to 12%. Meanwhile, Ethereum Classic is down by 7% after it has suffered a serious attack on its network.

Overall, bitcoin price is currently consolidating above the USD 3,900 support. As long as BTC/USD is above USD 3,900 and USD 3,850, it could bounce back and move past USD 4,000. If not, there is a risk of a downside move in bitcoin and altcoins in the coming days.


Luka KovičNovember 26, 2018
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3min512

The #1 cryptocurrency could soon overtake Mastercard’s daily transfer volume, judging by the official numbers released by Mastercard. This means Bitcoin is becoming a serious rival of the leading traditional money transfer system.

According to company’s public records, Mastercard has a daily volume of $11 billion, while Bitcoin on the other hand, transfers around $8 billion per day, meaning that it moves 73% of Mastercard’s volume. While Bitcoin daily transfer is especially noteable given the current situation in the crypto markets, it may seem that the cryptocurrency is already moving amount comparable to those handled by Mastercard.

Mastercardreports that it has processed transactions worth a incredible $4.4trillion since the beginning of the year. Although there’s no such statistic accessible for Bitcoin, it’s possible to accumulate it’s daily transfers. Supposably $8 billion daily transfer volume would mean Bitcoin could have an annual volume of $3 trillion, which is a incredible number for any transfer system, especially a cryptocurrency.

Ethereum, which transfers the second-highest daily volume, processed around $600 million in the 24-hour span. That would mean it equals approximately $0.25 trillion annualy. Moreover, Litecoin and Bitcoin Cash are also having a noteable amount of daily transfers, approximately $170 million and $120 million, respectively.

Despite having a far lower capacity in transactions per second, it could be speculated that all cryptocurrencies put together could rival Mastercard’s daily transfers. While Mastercards volume mostly stems from small purchases, cryptocurrency transaction could be worth millions. Although Mastercard’s main rival is Visa, which is handling 65.000 transactions per second, processes around $30 billion daily volume, that equals  roughly $11 trillion a year. Given that Bitcoin supports 7 tx/s on-chain, it would equal only 0.01% of Visa’s transaction capacity, the premier cryptocurrency still transfers around 25% of the value processed by Visa.


Luka KovičNovember 26, 2018
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3min298

In the course of last fourteen days, Bitcoin and the crypto market has taken a pummeling, as we seen major price drops, which caused Bitcoin holders to experience losses up to $2.600 per coin. 

The price of Bitcoin has dropped below $4.000 for the first time since September of last year, trading to an average price of $3.970, falling 40% in last 10 days, or staggering 80% of its all time high $20,000 back in December. The price downturn of #1 cryptocurrency also reflected on the global crypto market, experiencing losses of 18 billion U.S. Dollars, with total market cap of 132 bil., at the press time.

But Bitcoin is not the only one taking a beating, as Ethereum (ETH) and Litecoin (LTC) also reached lows of 2018 with price of $111 and $29, respectively. Other altcoins in TOP10 category have lost from 10-15% according to Coinmarketcap, with Bitcoin Cash (BCH), Stellar (XLM), Monero (XMR) and Cardano (ADA) being the worst performers.

The price drop could be due to several reasons, one of them being the discovery of price manipulation of Tether. Researchers have found out that the company have been printing Tether (USDT), cryptocurrency backed by 1 USD per coin, without any backing. This could be done to drive up market prices, so the U.S. Justice Department launched an investigation. One of the possible reasons for the downturn could be the SEC (Security and Exchange Commission) issuing its judgements on two ICOs; they had to return up to $27 million to investors, and paying $250.000 fines in addition to other penalties.

“We have made it clear that companies that issue securities through ICOs are required to comply with existing statues and rules governing the registration of securities,” said Stephanie Avakian, Co-Director of the SEC Enforcement Division.

Analysts are also mentioning another reason, that is Bitcoin Cash hard fork. The lack of consensus between Roger Ver and Craig Wright caused the coin to fork, splitting BCH community. While all this could be the reason for downturn, it might be none of the above. The market could just be correcting itself due to extreme volatility and a profusion of people investing in it.


Luka KovičNovember 13, 2018
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7min455

On 31st of October Bitcoin became 10 years old and the currency has much to show in this decade. In 2008 Satoshi Nakamoto, »the father of bitcoin«, authored the Bitcoin white paper, simply called ‘Bitcoin: A Peer-to-Peer Electronic Cash System.’ The publication was then sent to selected cryptographic experts, who were among the first to get to know and develop the digital currency as we know today.

There are many mysteries surrounding mr. Nakamoto and his true identity, which to this date, still isn’t known. There were some theories, that the name Satoshi is combined from companies like Samsung (SA), Toshiba (TOS) and Hitachi (HI), but there is no official proof that this may be true. However, Satoshi Nakamoto, the mysterious creator of bitcoin »dissappeared« in 2011 with a simple message: ‘I have moved on to other things’.

Looking back to the beginning, a short amount of people actually knew about Bitcoin, most of them probably didn’t even know it could change the financial system we knew, forever. Very first transactions were made to test the network, soon after, in March 2010 the first Bitcoin exchange emerged, simply called BitcoinMarkets.

One of the most famous Bitcoin transactions also happened in 2010, with a guy named Laszlo Hanyecz, who started a thread on a bitcoin forum in which he offered 10.000 bitcoins to someone willing to offer a couple of large pizzas. Back then, he would get 41 U.S. Dollars if he’d traded his Bitcoins on an exchange. For comparison – these 10.000 BTC are now worth more than 63.5 million dollars.

More infamous transactions were done on back-then-popular Silk Road, webpage with illegal things they were selling their users, which were paying with BTC. An astounding sum of $1 billion worth of cryptocurrencies were transferred through that website. At that time, Bitcoin »jumped« from 100 U.S. Dollars to $1.200, with the most noteable bull runs in history. The trend ended with two events that shocked the crypto community; in 2013, the People’s Bank of China (PboC) banned Chinese banks from using Bitcoin, and even more, when Mt Gox was hacked. Then the largest bitcoin exchange in the world, had lost 740.000 bitcoins (6% of all bitcoins in circulation). Mt Gox never recovered and the money (at least the most of it) was never been found.

Also in 2013, another milestone in cryptocurrency world emerged. A company by the name Mastercoin (now Omnilayer) became one of the first projects to build on top of Bitcoin Blockchain. First ever ICO (Initial Coin Offerings) project, raised around 5.000 BTC, what was then worth 500.000 U.S. Dollars and was a very successful ICO at the time. By 2014, Mastercoin reached 100 multiples of it’s ICO price. The ICO model burst with growth from $62.6 million raised in 2016, to $2.2 billion in the next year.

Following years, 2014, 2015 and 2016 were significant for Bitcoin and all cryptocurrencies. Few major companies started to involve, with Overstock.com, becoming first online retailer to accept Bitcoin payments. Famous rapper 50 cent sold his albums for bitcoin though collaboration with BitPay, encouraging others and impacting on understanding and acceptance of cryptocurrencies. Many retailers followed Overstock through those years, with most noteable mentions is Dell, who became highest valued retailer (revenue of $57 billion) and is still accepting Bitcoin payments for their products. Third major company to enable BTC payments was Microsoft, allowing users to use Bitcoin to buy Xbox games. In 2016, Steam, a gaming platform also started accepting Bitcoin payments.

The impressive growth exploded in 2017, with Bitcoin price boost from $1.000 in start of the year and ended being traded close to 20.000 U.S. Dollars on the end of 2017. In 2018, history was made in 4th biggest city in Slovenia – unveiling the world’s first public Bitcoin monument. A Bitcoin roundabout was financed by Bitstamp, cryptocurrency exchange that used to be based in Slovenia.

While the market was growing extremely fast, it crashed in 2018. Numerous countries have implemented bans and regulations, ICOs started to fade and some currencies dropped for astonishing 90% of their price. Crypto currencies were, and are still being criticized in the course to these years, but the community is expecting a price recovery in the coming months. Looking back, Bitcoin achieved a lot in this decade as there are thousands of virtual currencies in the market and being used by multiple companies across the globe.


UrbanAugust 10, 2018
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5min264

The BTC/USD pair yesterday established a new intraday low at 6131-fiat, a level that attracted buyers waiting to buy the dip, and has gained as much as 7% value ever since. The early Asian trading hours today witnessed a weak upside momentum, due to which price dropped towards 6181-fiat. However, in the mid-European session, the BTC/USD formed a bull flag following a sudden influx of buying orders. The pair gained 6 percent during the upside rally.

But, if one notices, the correction is as volatile as the fall was. We are still forming a baby ascending line at this moment that could fail to extend its stay – we are still in a downward trajectory. Let’s have a look at it in our technical analysis section.

BTCUSD Technical Analysis

As long holders, we decided to look into bear trajectory formation, indicating that the downside momentum is not decreasing, but intensifying. We are once again close to testing it and realizing a pattern of bulls leaving their long position near the trajectory resistance. If it breaks, the BTC/USD can push itself towards the 61.8% Fibonacci retracement level at 6780-fiat. This could be also where bulls exit their long positions and cause a pullback.

As far as moving averages are concerned, the BTC/USD pair is still below its 50H, 100H, and 200H ones. The RSI and Stochastic, in the meantime, are in the selling area, awaiting further upside correction.

Overall, we are still in a strong bearish bias.

BTCUSD Intraday Analysis

We switched to a 15-minute timeframe for today’s analysis following the previous drop. Anyway, we were able to squeeze out a decent profit from our short position towards 6280-fiat. However, we also had to bear a small loss when our stop loss executed on a failed short position towards 6086-fiat. The bias reversed way before testing it as our primary downside.

As for today, we now have a new range defined by 6551-fiat as interim resistance and 6181-fiat as interim support. We are now consolidating sideways after finding a temporary base near 6419-fiat. If one notices, this consolidation is also a formation of a bullish pennant after the previous pole. With that said, we are first waiting for the price to break above the bear trajectory (explained above), which also coincides with our interim resistance. This would allow us to put a long towards 6630-fiat, our primary upside target.

A stop-loss two-pips below the entry point, in the meantime, will help us minimize our losses in case the price falls back inside the bear trajectory.

Looking south, we will put a short position towards 6181-fiat upon breaking below 6419-fiat. In this position, a stop-loss 2-pips above the entry point will define our risk.

Have a great intraday!


UrbanJuly 27, 2018
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3min276

The bitcoin price careened back toward $8,000 on Thursday after the U.S. Securities and Exchange Commission (SEC) rejected the Winklevoss twins’ second attempt to create a bitcoin ETF and list it on a regulated stock exchange.

The bitcoin price had entered the evening trading at approximately $8,300, a mark it managed to hold until shortly after 20:30 UTC. At that point, the floor appeared to disappear from under the flagship cryptocurrency’s feet, and it quickly posted a several-hundred-dollar decline. The bitcoin price briefly sunk below $8,100, though it has since recovered to a present value of $8,117.

bitcoin price
BTC/USD | Bitfinex

The decline correlated with the news, revealed public SEC documents, that the agency had denied an application filed by Cameron and Tyler Winklevoss, prolific bitcoin investors and founders of cryptocurrency exchange Gemini, to launch an exchange-traded fund (ETF) product that tracks the price of bitcoin.

The denial marked the second time that the SEC had thwarted a Winklevoss-led attempt to create a bitcoin ETF, and also cast doubt on whether the agency will be willing to approve any of the manifold other cryptocurrency ETF applications that are currently undergoing review by SEC officials.

Many analysts had said that the recent bitcoin price rally was an indication that traders had priced in a bitcoin ETF approval, an event that now appears more unlikely. This ultimately raises the question of whether we will see bitcoin once again test the $8,000 mark and perhaps drop back below it.

 


UrbanJuly 24, 2018
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5min238

According to sources who are analysing the current situation regarding the bitcoin price consistently, it appears that the cryptocurrency may be in line for a major breakout.

An analysis from Telegram groups and recent comments on Discord channels have also appeared to confirm this sentiment.

bitcoin price chart
BTC/USD | Bitstamp | Source: BitcoinWisdom

Bitcoin has officially made a higher high on the daily, testing a big resistance at $7,800 (inverted head and shoulders target) and testing the mid-term downtrend line. The top line has now broken and one can expect a big run up in the days ahead. According to sources, if the line is broken more this week at the right time, it will cause a flood of buying followed by a small retracement or correction.

bitcoin price
BTC/USD | Bitfinex

At present, the bitcoin price is trading just above the $7,700 level on Bitfinex, with turnover slightly on the lower side when compared to last week’s levels. What is different from the usual is that all major cryptocurrencies have either registered small drops or are stable, with BTC being the only real gainer alongside bitcoin cash and cardano. Sources said that it is still not the season for alts –- these continue to perform sluggishly although that could change when bitcoin starts its upward ride.

The fact that BTC pushed a higher high is already bullish, and we also closed the daily with a higher low. The RSI keeps peaking into overbought conditions and cooling off, maintaining bull momentum for the upcoming ETF news. The news regarding a new bitcoin ETF would certainly send the market skyrocketing upwards.

It appears that bitcoin is nearing bull confirmation, with high volume coming from buyers. A break of $7,800 can send BTC into a run to $8,250, which is the level needed to break and confirm at least mid-term bull, as it is a swing high of the recent downtrend.

Sentiment remains bullish, with bears struck in fear with every leg up. This is looking great for BTC; however, we are still in a 6-month bear market trend, so it would be good to keep an eye on price movements.

Key Supports:

$7339
$7214
$7075

Key Resistances:

$7798
$7943
$8225


UrbanJuly 23, 2018
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4min143

Over the past week, the volume of bitcoin has dropped from $5.5 billion to $3.5 billion, subsequent to a surge in the bitcoin price from $6,800 to $7,500.

36% Drop in Volume

In seven days, the volume of bitcoin has dropped by 36 percent, by more than $2 billion. The volume of ether, the native cryptocurrency of Ethereum, and Tether (USDT), the most widely utilized stablecoin in the global crypto market, have also declined by a similar margin.

A drop in the volume of bitcoin supplemented by an increase in the volume of Tether can be attributed to the tendency of crypto investors hedging the value of their portfolio to the US dollar. However, on July 22, the volume of both BTC and USDT dropped simultaneously, signifying that the demand for crypto in general has fallen in the past 48 hours.

As such, a drop to the lower end of $7,300 is a possibility in the short-term, despite the solid 2 percent gain of BTC on July 22, given its low trading volume and high Relative Strength Index (RSI), which at 66.8 is demonstrating an overbought condition.

Often, a high RSI in the region of 60 to 80 triggers a short-term drop in the value of major digital assets, unless it is countered by a positive event such as a key regulatory change or development in the cryptocurrency industry.

On yesterday’s report, CCN noted that BitMEX CEO Arthur Hayes expects the price of BTC to bottom out in the $5,000 region, prior to initiating a major rally to previous resistance levels at $8,000, $10,000 and $12,000, and ultimately achieve its all-time high at $20,000.

Extreme volatility in the value and volume of major cryptocurrencies has made a case for a $5,000 bitcoin bottom more likely, especially if tokens and other small cryptocurrencies also experience intensified movements on the downside.

While it remains uncertain whether BTC will record a big sell-off to the lower end of $5,000, it is clear, given the volatility of the market, that the market is not ready to initiate a large rally as it did in late April to test $10,000 and eye a move to $12,000.

Augur Up 30%

REP, the native token of the Augur decentralized prediction market based on the Ethereum blockchain protocol, has risen by more than 35 percent over the past three hours, and it is continuing to increase in both price and volume at a rapid rate.

Some analysts have attributed to the rise in the price of Augur to its post-mainnet launch value surge, but such a drastic surge in volume, from 70 BTC to 1,090 BTC usually does not occur without striking events that could lead the value of the token to surge.

Other tokens including Decentraland (MANA) and Salt (SALT) have recorded solid gains in the 13 percent region, backed by a substantial increase in their daily trading volumes on major exchanges like Binance and UPbit.



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