Bitcoin loses momentum, as more players enter NFT space: Market wrap
- Date: 31-Aug-2021
- Source: Zawya
- Sector:Financial Markets
- Country:Middle East
Bitcoin loses momentum, as more players enter NFT space: Market wrap
RIYADH: Bitcoin, the leading cryptocurrency, traded lower on Monday, falling by 0.91 percent to $47,857.75 at 6:15 p.m. Riyadh time while Ether traded at $3,178.92, down by 0.02 percent, according to data from Coindesk.
Despite losing momentum after weeks long rally; the cryptocurrencies are fast gaining acceptability with different financial players announcing plans to adopt different digital currencies.
Cryptocurrency exchange KuCoin announced that it registered more than 2 million new users in the second quarter, an increase of 1,144 percent over the previous quarter and 709 percent more than Q2 of 2020.
It said that the average daily transaction volume for KuCoin grew by 791 percent to $4.3 billion, with more than half of traders using its mobile app.
Although the number puts it below Binance, Coinbase, Huobi Global, and FTX, it is still among the largest cryptocurrency exchanges in the world.
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