Digital currency prices are trading mostly unchanged Friday, continuing what’s been a subdued week for the cryptocurrency market.
the world’s largest digital currency, was changing hands at $6,547.89, down 0.1% since Thursday at 5 p.m. Eastern Time on the Kraken cryptocurrency exchange.
Bitcoin is working on one of its quietest weeks on record, trading within a $250, or 3.5%, range. As it stands early Friday, this is the lowest volume week since February 2017, according to Bitfinex data provided by Trading View.
The total value of all cryptocurrencies was last at $218 billion, according to data from CoinMarketCap.
Speaking at the Delta Summit in Malta, Nigel Green, the founder of deVere Group, and a crypto proponent, said skeptics are undermining the potential of the industry. “Trust in the sector is routinely compromised by crypto demagogues who make wild and unsubstantiated claims and who sell themselves out to the highest bidder, regardless of facts and consequences,” he said, according to an email to MarketWatch.
“These are those high-profile financial traditionalists and institutions, who are likely to either have vested interests in maintaining the status quo or have no understanding and/or no desire to understand the unprecedented shift taking place right now.”
The collective group of coins other than bitcoin, known as altcoins, are off to a quiet start Friday. Ether
was down 0.2% at $221.39, Bitcoin Cash
has lost 0.7% to $511.10, Litecoin
was down 0.6% at $57.95 and XRP
the coin of the Ripple protocol, was trading at 52 cents, down 2.9%.
Bitcoin futures are quiet out of the blocks on Friday. The Cboe Global Markets October contract
was down 0.1% at $6,535 and the comparable CME Group October contract
was down 0.2% at $6,545.
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