Crypto Today: The crypto market is trading over thin ice
Here’s what you need to know on Tuesday
Markets:
– BTC/USD stays flat during the day, dropping a paltry 0.01%. The king trades at $8,119 while multiple reports of a possible price change direction are being published.
– ETH/USD is up 0.59% and is currently trading at $176.80. The Ether continues to have better behavior than the Bitcoin.
– XRP/USD rises in the day 2.24% and recovers, for now, the price level of $0.25. The strong bearish trend doesn’t seem to be over yet.
– The day’s winners are KAVA (+17.73%), ZRX (+9.40%) and ENJ (+9.14%). Red is led by MCO (-99.87%), VET (-6.97%) and DENT (-5.59%).
Regulation:
– Fidelity Digital Assets Services LLC (FDAS) received a license from the New York regulator NYDFS to operate in the digital assets market.
– The New York regulator, NYDFS, presses the gas pedal and licensed 23 companies for the custody and execution of transactions in digital assets.
Industry:
– Galaxy Digital, the company headed by Mike Novogratz, will launch two new funds for accredited investors. Both funds will invest in Bitcoins and the minimum investment level will be $25,000. Bakkt and Fidelity will be in charge of the custody and settlement of the transactions.
– Grayscale, the largest digital investment manager, announced yesterday that it had filed a Form 10 with the Securities and Exchange Commission (SEC) regarding the Greyscale Bitcoin Trust.
– Roger Ver, the leading supporter of Bitcoin Cash (BCH), announces an investment of $200 million. The money will go to business projects built on the infrastructure of Bitcoin Cash.
Quote of the day:
dave the Wave @davethewave
Corrections are roughly the same, but bull run-ups reducing as the law of diminishing returns kicks in.
