Here’s what you need to know on Wednesday
Markets:
The BTC/USD pair is currently trading at $7,250.59 (-0.20%), ignoring yesterday’s dazzling rise to $7,800.
The ETH/USD pair is currently trading at $146.71 (-0.35%). Yesterday it tried to beat the resistance at $150, it got it a few minutes, but the sellers closed the way.
XRP/USD is currently trading at $0.2156 (-1.03%), showing weakness by not being able to beat the $0.22 level.
Among the 100 most important cryptocurrencies, the best of the day are DX $0.001154 (+36.65%), FTT $1.63 (+7.43%) and ZIL $0.005651 (+5.30%). The day’s losers are QNT $5.17 (-14.65%), RLC $0.5286 (-7.87%) and LUNA $0.2416 (-7.58%).
Chart of the day:
BTC/USD
Source: Glassnode
Market:
– A new Pump & Dump shook the crypto board yesterday. The BTC/USD pair rose more than 9% in 10 minutes, which were drained over 10 hours of falls by a cumulative 10%.
– The market has awakened with an alert launched after reaching a new record volume of Bitcoin traded in a single hour. It has reached $8.9 billion. The movement is due to internal security transfers in some of the largest exchanges.
Regulation:
– Kazakhstan launches its proposal to attract cryptocurrencies mining facilities to its territory with a no-taxations plan for profits made from this activity.
– The central bank of the UEA denies having supported any private initiative related to the crypto market after information appeared in several local media in this sense.
Industry :
– A group of former Morgan Stanley IT developers has joined forces to launch the Phemex crypto exchange and offer high-speed services for traders. The new platform is capable of handling up to 300K transactions per second.
– Circle urges its North American users to transfer their wallets out of Poloniex. Circle decided to dispose of Poloniex in October and is alerting its clients to prevent them from losing their assets.
– 2019 will close with a decline in activity and institutional projects focused on crypto markets. Nick Carter, the founder of Coin Metrics, has declared, “The market is definitely retail-driven and will remain so for the foreseeable future…”
– Audacom, an IT company specializing in financial services, will offer low latency infrastructure with interconnection with multiple exchanges. The service will allow traders to launch multiplatform orders without latency. The service is optimal for high-frequency trading.
– Gemini, the cryptocurrencies company of the Winklevoss twins, has contradicted Julian Sawyer, founder and COO of the online bank Starling, to lead the company’s European expansion.
Quote of the day:
Mike Novogratz, CEO of Galaxy Investment Partners LLC
The next wave will come from the wealth advisers, maybe with endowments and small foundations participating.” In November, Galaxy launched two new bitcoin funds for institutional investors.
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