BTC, ETH and USDT Account for 90% of Trading Volume
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May 13, 2020
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The cryptocurrency market has become much more centralized than ever before. At least according to an open-source data library Messari the real volume is focused across only three digital assets: bitcoin (EXANTE: Bitcoin), ether (ETH) and tether (USDT).

Today all the three digital assets account for 90% of trading volume.

Bitcoin Experiences Third Halving

The biggest part of volume is related to USDT as the total stablecoin supply reached an all-time high of $10.4 billion for the first time in history.

Bitcoin is still in the top three assets by real volume despite accusations of price manipulation and the recent halving, which caused a fall of bitcoin's hashrate by 16%, apparently due to the fact that miners now get half the rewards after the reduction of the block reward.

John Griffin, a professor at the University of Texas, and Amin Shams, an adjunct professor at Ohio State University, earlier said that a Bitfinex whale manipulated bitcoin price back in 2017, when it jumped by 2,000%.

ECB: Malfunctioning of Global Stablecoins Could Pose Risk to Financial Stability

iHodl previously reported that open Interest in CME bitcoin futures reached yearly high of $339 million as big players are coming back to the market.

According to Arcane Research, this is the highest level seen since the price peak in 2019.

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