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Bitcoin Inches Above $2,800 to Hit 5-Day High
The price of bitcoin is edging up, though it could be in advance of volatility ahead of a possible network development.
By Pete Rizzo
Updated Sep 14, 2021, 1:57 p.m. Published Jul 28, 2017, 12:25 p.m.
The price of bitcoin across global exchanges hit $2,833 today, the highest figure observed since July 23.
The five-day high comes amid what has been largely a week of stability in the price of the digital asset against the dollar. Bitcoin prices fell to a seven-day low of $2,433 on Wednesday, but have traded as high as $2,889 as recently as July 21.
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Still, the fluctuations come ahead of what could emerge as a turbulent time for the price.
While bitcoin's long-raging scaling debate may soon reach a conclusion of sorts (with the integration of the Segregated Witness now scheduled for early August), it's not going to be without twists.
For one, the cryptocurrency is about to see the first large-scale fork of its live blockchain, with some miners and businesses vowing to create a separate project called Bitcoin Cash.
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Already trading at $300 (though it hasn't been released), it's hard to say exactly how the move may impact prices.
Still, if the project does come to pass, those on either side of the debate may now be able to more easily move the market in their preferred direction, potentially leaving the door open for volatility ahead.
Markets image via Shutterstock
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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