The crypto market had another heavy shakedown in which Bitcoin (BTC) slid and led to a crash in altcoins. BTC prices moved down from their stagnant positions around $6,400 and crashed into the $5,300-$5,400 range at the lowest.

Bitcoin (BTC) moved from minimal change to high volatility without warning. BTC was down 12.36% this week, though only after recouping some losses. Ahead of the weekend, the leading coin started a recovery, reaching $5,612.68.

The share of USDT trading expanded reached a temporary peak during the sell-off on November 14, reaching about 60% of volumes, as traders sought a safe haven. Volumes peaked above the equivalent of $8 billion. The Bitcoin network also saw a significant transaction load, as the hashrate moved away to support the Bitcoin Cash competition of alternative chains.

XRP (XRP) regained second place by market capitalization, following significant price weakness in Ethereum (ETH). XRP’s losses were only 5.85% this week, trading around $0.47, as the launch of xRapid in October…

This article appeared first on Cryptovest

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