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.

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bitcoin
Bitcoin (BTC) $ 61,305.00
ethereum
Ethereum (ETH) $ 3,842.30
binance-coin
Binance Coin (BNB) $ 473.88
cardano
Cardano (ADA) $ 2.23
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 1.14
solana
Solana (SOL) $ 159.52
polkadot
Polkadot (DOT) $ 44.14
usd-coin
USD Coin (USDC) $ 0.999364
dogecoin
Dogecoin (DOGE) $ 0.238535
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 61,305.00
ethereumEthereum (ETH)
$ 3,842.30
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 630.49
litecoinLitecoin (LTC)
$ 190.14
bitcoinBitcoin (BTC)
52.799,85
ethereumEthereum (ETH)
3.309,24
tetherTether (USDT)
0,861265
bitcoin-cashBitcoin Cash (BCH)
543,02
litecoinLitecoin (LTC)
163,76
bitcoinBitcoin (BTC)
44,752.96
ethereumEthereum (ETH)
2,804.90
tetherTether (USDT)
0.730005
bitcoin-cashBitcoin Cash (BCH)
460.26
litecoinLitecoin (LTC)
138.80

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin61,739 0.71 % 4.22 % 14.31 %
Ethereum3,862.7 0.84 % 0.76 % 8.55 %
Binance Coin476.95 1.20 % 0.19 % 14.02 %
Cardano2.240 0.88 % 2.21 % 0.32 %
Tether0.9986 0.03 % 0.08 % 0.23 %
XRP1.140 0.58 % 0.40 % 7.54 %
Solana160.24 0.93 % 6.44 % 0.83 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Dogecoin0.2402 1.02 % 2.18 % 1.15 %

bitcoin
Bitcoin (BTC) $ 61,305.00
ethereum
Ethereum (ETH) $ 3,842.30
binance-coin
Binance Coin (BNB) $ 473.88
cardano
Cardano (ADA) $ 2.23
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 1.14
solana
Solana (SOL) $ 159.52
polkadot
Polkadot (DOT) $ 44.14
usd-coin
USD Coin (USDC) $ 0.999364
dogecoin
Dogecoin (DOGE) $ 0.238535