Over the past weekend Bitcoin (EXANTE: Bitcoin) almost has not changed. At press time, the largest cryptocurrency by market cap is trading at $11,805.6 (-0.57%), according to EXANTE.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum also has slid down to $425.01 (-0.74%). XRP dropped by 0.11% and now is trading at $0.300.
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FxPro's team of analysts say:
"Blockchain data shows the bitcoin's network hashrate continues to climb, indicating that miners are building up production capacity, which will translate into increased complexity. Miners need bitcoin prices to rise in order to cover costs. After the third halving, an increase in the value of an asset becomes simply a vital necessity to maintain the profitability of mining farms. In the crypto community, it is believed that the confidence of miners in the prospects for bitcoin is one of the most important conditions for the price growth."
As for the market cap of all currencies listed in CoinMarketCap, it stays at $374 billion.
In the meantime, according to the latest report published by financial services giant KPMG, investments in blockchain during the coronavirus pandemic have fallen dramatically by 63% from $18 million down to $6.5 million.
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