The cryptocurrency market seems to have returned to the track after a small correction on Thursday, with all the main activities that recorded 24-hour gains from the start of Labor Day.
Prices cryptocurrencies have fully recovered from their Thursday bottom came the bottom, with bitcoin, altcoin and tokens that push higher in the weekend trade. The total value of all the digital currencies in circulation reached almost 233 billion dollars on Saturday with a gain of almost 4%, according to CoinMarketCap. Since it hit the low of close to $ 220 billion on Thursday, the market recovered 5.5%.
Cryptocurrencies, excluding bitcoins, accounted for most of the rally; excluding BTC, the market rose from $ 6 to $ 110 billion. As a result, the total market share of bitcoins fell to 52.6% from a maximum of 53.3% during the previous session.
The bitcoin price continues to trade in a narrow range after taking back the $ 7,000 handle on Friday. As reported by the author on Friday, the last bitcoin resumption has reduced the risk of a downside reversal when the 50-day moving average converges on the 200-day MA.
At the time of printing, BTC had earned 1.4% to $ 7.048.
For the more performing altcoin, one had to go outside the first ten. Monero and Dash, the eleventh and twelfth classified encrypted by capitalization, rose to double digits on Saturday. Monero's XMR is on the rise after the ICO Satis advisory group predicted it would be the best performing crypt in the next ten years. XMR currently stands at $ 119, gaining 10.2%.
Dash rose by 14.4% to $ 212 among the news of greater adoption in Venezuela, a socialist republic currently in economic and humanitarian generational crisis.
Price changes decline  Although 2018 was a volatile year for cryptocurrencies, the market has made significant progress on a number of fronts, including price consistency across the major stock exchanges. According to SFOX, a cryptocurrency trading technology company, 2018 saw a decline in price changes in digital currency exchanges. The company cited a growing institutional interest in cryptocurrency as the main reason for this important change.
"Before institutional companies actively traded with cryptography or heavily involved (before 2018) the price differences of bitcoins between exchanges varied up to 4.5%" Kim, responsible for the growth of SFOX, as reported by Business Insider.
As observed by SFOX, lower price changes mean more stability for digital resources such as bitcoins, which can ultimately increase merchants' adoption.
If institutional adoption is the key to reducing price variability, then there is reason to believe that the market will stabilize further in the coming years. Last month, the New York Stock Exchange operator, Intercontinental Exchange, announced a new crypto venture to promote investor and consumer adoption. Around the same time, Boerse Stuttgart – Germany's second largest stock exchange – announced that it will launch a new cryptocurrency platform.
According to Kim, high frequency trading companies (HFTs) could thrive in this environment while new technologies attract more speculators and market makers in the fold.
"Some HFT companies were traded by Crypto 2014, but they were limited because the infrastructure was not present, most, if not all, HFT companies require a FIX connection in a bag to operate in efficient way ", he said, citing Business Insider. "The Crypto exchanges did not offer FIX connectivity until recently."
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out short-term or day trading activities.
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