This article provides a quick overview of how the crypto markets have been doing—with the focus on Beam (BEAM), Binance Coin (BNB), Bitcoin (BTC), Cardano (ADA), Ether (ETH), and Grin (GRIN)—over the past 24-hour period.
Around 19:00 UTC on Monday (September 2), which was a public holiday (Labor Day) in North America, the Bitcoin price went up above $10,000 for the first time since August 28 (as you can see in the one-week BTC price chart shown below):
At press time (04:52 UTC on September 3), BTC-USD is trading at $10,397, up 6.18% in the past 24-hour period:
Bitcoin’s market cap is $186.95 billion and BTC dominance is at 73.61%.
Argentina-based economist and trader Alex Krüger (@krugermacro) had this explanation for the surge in Bitcoin price:
— Alex Krüger (@krugermacro) September 2, 2019
Crypto analyst/trader Josh Rager (@Josh_Rager) noted that BTC’s market dominance is now at the highest level it has been since July 2017:
$BTC dominance monthly chart looks like the end to the bottom of a market
Looks as if BTC.D capitulated, “v” bottomed followed by a strong recovery
At 72% now, highest since July 2017
With Bakkt coming, we may not see a strong pullback in BTC market dominance anytime soon pic.twitter.com/lhaA6OWom3
— Josh Rager 📈 (@Josh_Rager) September 3, 2019
Binance Coin (BNB)
Binance had an interesting September 2:
- It announced that it had launched testnets for two futures platform, only one of which be chosen in the future to be Binance’s official futures platform.
- It announced that it had acquired Singapore-based crypto spot and derivatives exchange JEX.
On August 30, Charles Hoskinson, CEO of IOHK, held a surprise “Ask Me Anything” (AMA) session (from his company’s new office in Longmont, Colorado) on YouTube, during which he mentioned that the network testnet will be launching in September. Hoskinson also mentioned that an announcement about Shelly’s third and final testnet (the “incentivized testnet”) will be made on September 28.
Featured Image Credit: Photo via Pixabay.com