{"id":28395,"date":"2020-09-09T12:08:57","date_gmt":"2020-09-09T09:08:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28395"},"modified":"2025-08-27T11:26:26","modified_gmt":"2025-08-27T08:26:26","slug":"kraken-bitcoin-market-share-falls-amid-defi-boom","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/kraken-bitcoin-market-share-falls-amid-defi-boom\/","title":{"rendered":"Kraken: Bitcoin market share falls amid DeFi boom"},"content":{"rendered":"<p>Against the backdrop of rising activity in the decentralized finance sector, the leading cryptocurrency is losing market share. This is according to Kraken&#8217;s monthly report.<!--more--><\/p>\n<p style=\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\"><a style=\"text-decoration: underline;\" title=\"View Kraken's Bitcoin Volatility Report on Scribd\" href=\"https:\/\/www.scribd.com\/document\/475385705\/Kraken-s-Bitcoin-Volatility-Report#from_embed\">Kraken\u2019s Bitcoin Volatility Report<\/a> by <a style=\"text-decoration: underline;\" title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" id=\"doc_11339\" class=\"scribd_iframe_embed\" title=\"Kraken's Bitcoin Volatility Report\" src=\"https:\/\/ru.scribd.com\/embeds\/475385705\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-Wq41fxUjMRGl79FgMJio\" width=\"600\" height=\"800\" frameborder=\"0\" scrolling=\"no\" data-auto-height=\"false\" data-aspect-ratio=\"1.3323485967503692\"><\/iframe><\/p>\n<p>The Ethereum dominance index accelerated in the first half of 2020.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-109632\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.06.28.jpg\" alt=\"Kraken: Bitcoin market share falls amid DeFi boom\" width=\"884\" height=\"550\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.06.28.jpg 884w, https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.06.28-300x187.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.06.28-768x478.jpg 768w\" sizes=\"auto, (max-width: 884px) 100vw, 884px\" \/><\/p>\n<p>Analysts note that even if Bitcoin continues to cede market share to altcoins, a reversal of capital rotation is inevitable.<\/p>\n<p>As of August 31, 63% of mined bitcoins had not moved from wallets for more than a year. In the past, such dynamics signaled the start of a bullish trend in the market, Kraken notes.<\/p>\n<p>However, given the first cryptocurrency&#8217;s low volatility in September, a price rise should not be expected before the fourth quarter of 2020, the analysts concluded.<\/p>\n<p>The correlation between gold and Bitcoin prices in August reached a new high of 0.97, later dropping to 0.25.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-109633\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.50.14.jpg\" alt=\"Kraken: Bitcoin market share falls amid DeFi boom\" width=\"790\" height=\"616\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.50.14.jpg 790w, https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.50.14-300x234.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.50.14-768x599.jpg 768w\" sizes=\"auto, (max-width: 790px) 100vw, 790px\" \/><\/p>\n<p>A high correlation was also observed with the S&amp;P 500 index, but its values later turned negative.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-109634\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.54.46.jpg\" alt=\"Kraken: Bitcoin market share falls amid DeFi boom\" width=\"770\" height=\"604\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.54.46.jpg 770w, https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.54.46-300x235.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2020-09-09-11.54.46-768x602.jpg 768w\" sizes=\"auto, (max-width: 770px) 100vw, 770px\" \/><\/p>\n<p>Earlier in August, the pace of issuing \u201cBitcoin on Ethereum\u201d <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-tokenisation-outpaces-its-issuance-amid-defi-boom\">outpaced<\/a> the issuance of the first cryptocurrency amid the DeFi boom.<\/p>\n<p>At that time, Kraken&#8217;s analysts <a href=\"https:\/\/u1f987.com\/en\/news\/kraken-forecasts-bitcoin-rally-of-up-to-200-in-coming-months\">predicted<\/a> that Bitcoin&#8217;s price would rise by 50-200% in the coming months.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Against the backdrop of rising activity in the decentralized finance sector, Bitcoin is losing market share. This is stated in Kraken&#8217;s monthly report.<\/p>\n","protected":false},"author":1,"featured_media":28396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1093,193],"class_list":["post-28395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-defi","tag-kraken"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=28395"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28395\/revisions"}],"predecessor-version":[{"id":28397,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28395\/revisions\/28397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/28396"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=28395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=28395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=28395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}