Digital tokens are trading sideways today, but there's a downturn in trading volume in the cryptocurrency market.
At press time, Bitcoin (BTC) is up 0.93%, as the world’s largest digital currency is trading at US$3,663 on Einstein Exchange.
BTC and cryptocurrency traders are scrambling to understand the huge market moves, with many of the digital tokens sporting such low daily trading volumes that a few large trades are able to move prices significantly.
In line with Bitcoin, Ethereum (ETH) stayed about even on the day, up about a quarter point at US$126.
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Despite current challenges in the cryptocurrency market, global interest in cryptocurrencies has continued to rise. At last count there were well over two-thousand coins and tokens on the market. Crypto exchanges have reported that between 70,000 to 100,000 new crypto trading accounts are being opened every day on their platforms.
And finally, according to a report from CoinTelegraph, major crypto exchange Binance has frozen tokens sent to its wallet by the entity who allegedly hacked New Zealand exchange Cryptopia, CEO Changpeng Zhao reported in a tweet yesterday. Sources say the NZ exchange has lost at least US$3.6 million worth of digital currency in the hack.
