Unlike the smartphone market that kept on climbing down with the outbreak of COVID19, Bitcoin and Ethereum find their price rose. The two cryptocurrency’s prices were up during the weekend even with the continuous report of more COVID19 patients from all around the world.
Despite the price rise, the inflow of new investors decreased and existing investors increased trading among themselves, the report showed. This is different from when the price of bitcoin rose due to the influence of COVID19 early this month. The new wallet, active wallet and transaction price all increased.
According to the cryptocurrency market announcement platform Xangle on the 24th, Bitcoin’s new and active index dropped 13.2 percent and 9.16 percent to 320,000 and 610,000 respectively. Transactions were also down 6.33 percent. In the case of Ethereum, the number of new and active purses decreased by 15.89 percent and 6.51 percent to 90,000 and 360,000 from the previous 24 hours.
Bitcoin and Etherium on-body transactions over the weekend despite COVID19
On the other hand, transactions of Bitcoin and Ethereum have increased among the On-body activation indicators. As well as transactions of more than $1 million. The rise in bitcoin and Ethereum prices is attributed not to the inflow of new trading but to more existing investors.
Bitcoin’s trading volume, which is a hot commodity, is up 17.4 percent from the last 24 hours to $6.7 billion. And the number of transactions over $1 million is up 50 percent to 1,233. The volume of Ethereum’s on-body trading increased 40.68 percent to $350 million over the same period. And the number of transactions up over $1 million rose 70 percent to 49.
As of 11:00 a.m. on Monday, Bitcoin rose 2 percent and Ethereum went up and down 3 percent. Korea`s main stock market KOSPI and KOSDAQ fell in the 3 percent range, respectively. While New York`s Nasdaq and S&P500 closed in the 1 percent range last night.
Previously, New York Stock Exchange also showed a surge of trade even under COVID19 outbreak.