Why Today’s Crypto Exchange Leaders Are Powerful, but Not Inevitable

Why Today’s Crypto Exchange Leaders Are Powerful, but Not Inevitable 1

As crypto traders ask why bitcoin prices shot downward, the power and influence of exchanges are at the center of the conversation.

After settling in at the $10,000 price level, bitcoin (BTC) suddenly and rapidly fell more than 5 percent in an hour on Wednesday. As the market discusses possible explanations, some floated the unexpected simultaneous downtime of Binance and Coinbase as a causal factor. 

In this episode of The Breakdown, we discuss the power exchanges wield – both in terms of market liquidity as well as the ability to shape news cycles. The good news is new funding for insurgent exchanges suggest that power is not inevitable. 

Lastly, we discuss the latest in central bank digital currencies, with Sweden launching an e-krona pilot, a former head of China’s national bank saying the coronavirus could accelerate efforts to develop a digital yuan, and a new member of the Libra Association.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin34,027 0.85 % 3.84 % 21.09 %
Ethereum2,249.0 0.89 % 7.73 % 32.99 %
Tether0.9965 1.48 % 0.69 % 0.38 %
Binance Coin349.23 0.70 % 6.87 % 29.96 %
USD Coin0.9964 0.75 % 0.63 % 0.33 %
Cardano1.000 1.90 % 9.23 % 28.89 %
XRP0.5744 1.33 % 5.40 % 26.30 %
Solana84.70 2.77 % 14.00 % 42.75 %
Terra64.24 0.83 % 4.69 % 26.17 %
Polkadot16.79 1.17 % 8.12 % 39.48 %

bitcoin
Bitcoin (BTC) $ 34,217.00
ethereum
Ethereum (ETH) $ 2,271.60
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 350.95
usd-coin
USD Coin (USDC) $ 1.00
cardano
Cardano (ADA) $ 1.02
xrp
XRP (XRP) $ 0.582366
solana
Solana (SOL) $ 87.04
terra-luna
Terra (LUNA) $ 65.41
polkadot
Polkadot (DOT) $ 16.98