Total Crypto Market Cap Jumps $12 Billion in an Hour as BitMEX Pauses Trading

[Zurcemozz]

Bitcoin is also boasting almost 6 percent growth on the week, while on the month the coin is down almost 10 percent, according to Cointelegraph’s Bitcoin Price Index.

All except one of the top ten cryptocurrencies have seen major growth during today’s spike, each gaining 4 to 9 percent on the day to press time.

Amongst the top ten coins, EOS (EOS) has seen the most growth over the 24-hour period, up 8.7 percent and trading at $5.19.

In the top twenty coins, altcoin VeChain (VET) has seen the most significant growth on the day, up a whopping 18.67 percent to trade at $0.015.

As a some commentators pointed out on Twitter, the sharp upswing across crypto markets began just as leveraged crypto trading platform BitMEX announced it was halting trading for scheduled maintenance at 1:00 AM UTC.

Crypto persona and self-described “crypto prophet” Beastlorion posted a series of Twitter polls in the hours leading up to BitMEX’s scheduled shutdown suggesting that the move would affect Bitcoin’s price.

Source Link : https://cointelegraph.com/news/total-crypto-market-cap-jumps-12-million-in-an-hour-as-bitmex-pauses-trading

[btyco]

This is proof that the bitcoin market is dominated and manipulated by whales who generally use bitmex as their trading platform. It would be better for us all if they closed down permanently and let the crypto markets recover back to ATH's