- Major cryptocurrency prices resumed their upward trend in September
- Build-and-build ranked third among freely traded cryptocurrencies in September
Major cryptocurrency prices resumed their upward trend in September
Despite the August crash, when bitcoin lost 10% of its value and ether fell even further, the prices of major cryptocurrencies resumed their upward trend in September. "Jonas Juenger, head of Binance's cryptocurrency division Bifinity, says the price of bitcoin was quite volatile during the month: it started the month at €53,272, briefly dropped to €48,000 on 7 September, but then climbed back up again to end September at €57,042, an increase of 7%.
Historically, September has been a weak month for Bitcoin, but this year, this pattern was broken, and September became the strongest month in Bitcoin's history.
The price of ether also rose during September, although the increase was more modest at 3%. On 1 September, one ether cost €2,264, and by the end of September, it had reached €2,333. The lowest price of an ether was also on 7 September, when it fell to just under €2,000.
Build-and-build ranked third among freely traded cryptocurrencies in September
The end of September saw a clear pick-up in trading on the cryptocurrency market, especially in the last two weeks. This was also reflected in the change in transaction fees, with the average transaction price at the beginning of the month being USD 0.09, before rising to USD 1.69 at the end of the month, an increase of 498%. These changes show that network activity has increased significantly.
"Build-and-build (BNB) ranked third among freely traded cryptocurrencies in September. At the beginning of the month, the price of BNB was EUR 482, and by the end of September, it had risen to EUR 514, representing a 6.6% increase.
The overall trend in the cryptocurrency market in September was positive, bringing positive developments after the August downturn. Despite fears that bitcoin may be entering a bear market, many market participants expect prices to continue to rise, with speculation that a new price peak will be reached this year.
October is often referred to as "uptober" in the cryptocurrency community, as the month saw a historic Bitcoin price increase of around 23%. However, it remains to be seen whether this October will live up to these predictions.
Based on Press releases
