The cryptocurrency market continues to be a roller coaster ride as the price of all the currencies witnesses a massive shift within a few minutes. Last week, the whole market plunged in a short span, with Bitcoin [BTC] and other top cryptocurrencies plunging by double digits. This week has started with the market taking the opposite direction as all the coins have recorded a sudden spike, turning the entire market around.
According to CoinMarketCap, at press time, Bitcoin is trading at $3,706 with a market cap of $64 billion. The trading volume of the coin is recorded to be and the coin has seen a rise of over 2% in the past one-hour.Bitcoin price chart | Source: Trading View
The highest trading volume for the coin is pictured to be pouring in from BitMEX, a leading cryptocurrency exchange around the world, with BTC/ USD trading pairs. The second spot is taken by Coinbene with Tether [USDT] pair. The other top three exchanges contributing to the hike are EXX, OKEx, and Bibox.
Additionally, Bitcoin is not the only coin to rise from the bearish market. Ethereum [ETH], the third-largest cryptocurrency by market cap, has also stepped up and claimed the throne of biggest gainer in the past one-hour. The coin is current $129.39 trading at with a market cap of 13.5 billion. The trading volume of the coin is recorded to be $2.77 billion and the coin has surged by over 9% in the past one-hour.
Ethereum price chart | Source: Trading View
The highest trading volume for the coin is surging in from OKEx with ETH/ USDT trading pair. The other top four exchanges are LBank, Bibox, Local Trade, and DOBI Exchange.
XRP, the second largest cryptocurrency, is also pictured in green. The cryptocurrency is trading at 0.33 with a market cap of $13.74 billion. The trading volume for the coin is $637.63 million and has surged by over 2% in the past one-hour.
Soon after the price made an upward trend, Bakkt, one of the biggest financial players in the space, announced its first acquisition.
Kelly Loeffer, CEO of Bakkt said:
“To advance that effort, I’m pleased to share that we have entered into an agreement to acquire certain assets of Rosenthal Collins Group (RCG), an independent futures commission merchant with nearly 100 years of earning clients’ trust. In December, RCG announced the sale of all its customer accounts to Marex Spectron, one of the world’s largest commodity brokers. As part of that transaction, our aim was to purchase certain valuable assets related to developing our platform. We expect to close the transaction in February, and are excited to welcome members of the RCG team to Bakkt.”
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