Bitcoin Maintains Stability As Markets Continue Seeing Profit
A report from Coin360 has shown that Bitcoin and the cryptocurrency market are maintaining stable levels this week, with the leading cryptocurrency hovering above its $6.5K mark and other major currencies are earning gains of their own.
After a three percent climb in a period of 24 hours, Bitcoin is currently worth $6752, a favorable five hundred dollars above its initial cap of $6,300 with Robert Sluydmer, managing director at Fundstrat, stressing the importance of Bitcoin’s current stability to hopefully lift back the markets’ current low.
Ethereum also saw total gains of eight percent as of this week, valued at $483 during this week’s high and has climbed two percent in the last day. Cardano is the only currency to see losses this week, dropping one percent to $0.0158 in trading value while the ten leading tokens are said to maintain the current bullish trend.
The market is up by at least $50B since June and totaling at almost $277 billion in market capitalization.
As the market sees a slight bounce-back since June, risks regarding security rise alongside the market and strong, efficient responses to any security risk will be required to maintain the rebound and support the positive attitude of investors.
After a reported hack on Binance caused the immediate shutdown of its platform, the industry’s largest operating exchange has announced it resumed after investigations.
Syscoins were reported to be worth a 1:96 Bitcoin ratio during the attack, skyrocketing the price of Syscoins during the unusual incident, with Binance releasing reports of newly implemented security measures for its users and withdrawal of all transactions negatively affected during that period.