Bitcoin Weekend Trading Drops to Record Low as Bitcoin ETFs Reshape Market Dynamics

Bitcoin’s weekend trading has dropped to a record low of 16% this year, down from 28% in 2019, due to the rise of Bitcoin ETFs.

Bitcoin’s weekend trading volume has dropped to a record low of 16% this year, down from 28% in 2019, due to the rise of Bitcoin ETFs.

Approved by the SEC in early 2024, these ETFs have driven Bitcoin to a record high of $73,798 in March. Unlike traditional crypto exchanges, Bitcoin ETFs follow the stock market schedule, eliminating weekend trading and reducing price volatility, aligning Bitcoin’s trading patterns more with traditional equities.

The collapse of crypto-friendly banks like Silicon Valley Bank in March 2023 also contributed to lower weekend trading volumes. Without 24/7 payment networks, market makers are less inclined to provide weekend liquidity.

This shift reflects Bitcoin’s maturation as an asset, with volatility dropping to 40% after its March peak, compared to over 106% during previous highs.

Biggest Crypto Gainers Today – Top List

As Bitcoin’s market structure evolves into a more stable and predictable investment, other cryptocurrencies are making remarkable strides. Here are the biggest crypto gainers today, presenting the top performers in the volatile and dynamic cryptocurrency market.

1. Kaspa (KAS)

Kaspa is a proof-of-work (PoW) cryptocurrency that utilizes the innovative GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG allows parallel blocks to coexist and orders them in consensus, creating a blockDAG. This unique structure supports very high block rates and fast confirmation times, with the current network processing one block per second.

Kaspa’s ability to maintain high block rates while ensuring robust security makes it stand out. The network aims to achieve even higher rates, targeting ten or even 100 blocks per second. Its unique monetary policy reduces emissions geometrically, based on a chromatic scale, with the block reward halving smoothly each month. Kaspa is secured by miners using the k-Heavyhash algorithm, ensuring compatibility with future Photonic miners and maintaining a secure, scalable network.

Kaspa, currently priced at $0.190614, surged 5.82% in the last 24 hours and exhibited impressive market liquidity with a volume-to-market cap ratio of 0.0946. Unlike Rollbit Coin’s low liquidity, Kaspa’s strong trading activity supports its $4.52B market cap. With an RSI of 54.20, it remains neutral territory, suggesting potential sideways trading.

Congrats, @kasplex on your latest update before Open Beta, tomorrow. The community looks forward to the #KRC20 ecosystem! https://t.co/bbjcAwOZIE pic.twitter.com/44kdTU7dz5

— Kaspa (@KaspaCurrency) June 29, 2024

Kaspa has had 16 green days in the last 30, outperforming both WEMIX Token and Rollbit Coin in positive days. Its volatility is a manageable 8%, indicating relative stability. Trading 199.36% above its 200-day SMA, Kaspa has significantly outpaced its peers. Over the past year, Kaspa’s price skyrocketed by 633%, outperforming 94% of the top 100 crypto assets, starkly contrasting to Arweave’s 405% rise.

2. Rollbit token (RLB)

Rollbit Coin is a utility token for the Rollbit platform, a popular crypto casino and trading site. RLB enhances user experience by offering increased rakeback and reduced trading fees.

RLB has multiple uses within the Rollbit ecosystem. Users stake RLB to join the lottery and share the platform’s profits. Staking also reduces trading fees and increases rakeback, promoting active trading and participation. Additionally, RLB’s integration into the platform’s liquidity pools facilitates smoother transactions and enhances trading efficiency.

Security is reinforced by regular audits and staking practices. This comprehensive approach ensures the safety and value of RLB, fostering a robust and secure environment for users. The platform’s impressive traction, with over 1 million users and $5 billion wagered, underscores RLB’s potential value and utility.

The 2nd stage of the $60,000 betting tournament has concluded.

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— Rollbit (@rollbitcom) June 29, 2024

Rollbit Coin, now at $0.083492, surged 9.35% in the last 24 hours but faced low liquidity with a volume-to

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