CRYPTO CURRENCY

cryptocurrency is a digital currency built with cryptographic protocols that make transactions
secure and difficult to fake. The most important feature of a cryptocurrency is that it is not controlled by
any central authority: the decentralized nature of blockchain makes cryptocurrency theoretically
immune to the old ways of government control and interference. Cryptocurrencies make it easier to
conduct any transactions, for transfers are simplified through use of public and private keys for security
and privacy purposes. These transfers can be done with minimal processing fees, allowing users to avoid
the steep fees charged by traditional financial institutions.
However, the latest news on cryptocurrencies indicates that because cryptocurrencies are devoid of a
central repository, a digital cryptocurrency balance can be wiped out by a computer crash, a hack, and
other unexpected events.

Bitcoin (BTC) once again sent jitters across the markets, with another flash crash below the $11,000
mark. BTC was weakening in the past couple of days, breaking below the support of $11,500, and fell by
more than $900 on Wednesday.
In the past 24 hours, BTC slid gradually from $11,300 to $10,629.24 as of 7:10 UTC. Breaking the recent
climbing streak also pushed down the BTC market cap dominance to 67.7%, preventing it from trending
above 70%.

BTC trading volumes remain around $18 billion, with more than 69% carried by Tether (USDT) volumes.
BTC also closely competes with USDT for the best-traded coin. USDT takes up 33.14% of all trading
activity across markets, while BTC is a close second at 33.01%. BTC and USDT have continued to swap
the leading positions after July 22, as the supply and activity of USDT increased significantly in the past
quarter.

The price drop for BTC arrived after another extension to the review period for a decision on the
proposed exchange-traded funds (ETF). While the markets no longer view the ETF as a central source of
growh, the news added to the shift in sentiment. This time, the BTC weakness has not worked as a
trigger for an altcoin season, as there is even less trust in smaller networks.

BTC trading is also constantly changing its profile, being distributed to innovative exchanges. There is no
one market with premium prices or anomalies, and Asian trading still has the greatest weight.

BTC transactions remain at a relatively high level, above 850,000 total transactions including unspent
returns. The network, however, is not congested, indicating that there is no rush to move BTC to and
from exchanges.