RATE Group | Tokens Take Huge Beating as Augur Drop 18%, Bitcoin’s Volume Recovers
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Tokens Take Huge Beating as Augur Drop 18%, Bitcoin’s Volume Recovers

23 Jul Tokens Take Huge Beating as Augur Drop 18%, Bitcoin’s Volume Recovers

Posted at 16:47h in Bitcoin News by

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Despite the strong performance of bitcoin over the past 24 hours, tokens have recorded large losses against both bitcoin and the US dollar, dropping by 10 to 20 percent.

Bitcoin Volume Recovers But Tokens Struggle

On July 22, CCN reported that the volume of bitcoin has dropped by more than 36 percent since July 20, within a 48-hour period, from $5 billion to $3.5 billion. The daily trading volume of other major digital assets and stablecoins including ether and Tether (USDT) also dropped by a similar margin, showing the lack of demand from investors.

However, in the past 12 hours, the volume of BTC surged from $3.5 billion to $4.9 billion, as a solid increase in price from $7,400 to $7,700 sparked interest in the market. The sudden increase in the value of BTC temporarily led some tokens such as Basic Attention Token (BAT) and Augur (REP) to rise substantially.

On July 22, REP rose by over 35 percent against both BTC and the US dollar, following a surge in volume from 70 BTC…

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