The COVID-19 outbreak has also taken its toll on bitcoin spending. According to Chainalysis the amount of BTC being spent with merchant services, gambling sites, and darknet markets “dropped significantly since March 9.”
Binance Research found that the price of Bitcoin was moderately correlated to the S&P 500 during the first quarter of this year. While BTC outperformed the U.S. stock market index, both saw their prices drop while gold and long-term treasuries went up.
The cryptocurrency-powered Brave browser has added one million new users last month, growing at a fast pace over partnerships it recently signed.
Top stories in the Crypto Roundup today:
- COVID-19 Effects on Global Economy Take Toll on Bitcoin Spending
- Bitcoin Moderately Correlated With S&P 500 in Q1: Binance Research
- Crypto-Powered Brave Browser Adds One Million Users in a Single Month
At the time of writing, bitcoin (BTC) is trading at $6,922.47 (3.82%) with a daily Top Tier volume of $4.40 bn. As for ether (ETH), it is trading at $144.23 (4.71%) with a daily Top Tier volume of $855.54 million. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,367.57 (10.70%).