Here’s what you need to know on Monday
Markets:
– BTC/USD falls 0.91% in the day and moves below $8,500 as it endangers the critical support at the $8,400 price level.
– ETH/USD falls 0.61% and is unable to break the 100-period moving average and trades at $182.9 at the time of writing.
– XRP/USD falls 1.6% and trades at the $0.259 price level, jeopardizing critical support at $0.25.
– The day’s winners are WAN (+7.8%), ADA (+4.49%) and ICX (+3.62%). Red is led by DOCK (-4.9%), ATOM (-4.87%) and ALGO (-4.5%).
Chart of the day:
ADA/USD
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Regulation
– Andrew Yang, a Democrat candidate for the 2020 elections, presented his proposals regarding the regulation of the crypto space. The plan has three main axes: clear fiscal legislation regarding the negotiation of cryptocurrencies, defining what a token is and when token functions as securities.
– The Finnish Financial Services Authority (FIN-FSA) certified LocalBitcoin exchange platform, as a virtual currency provider.
Industry:
– Tom Lee, the Fundstrat Global LLC advisor, assures that the crypto market size of around $200 billion is too small for an ETF to work correctly.
– Cashaa, a specific banking project for the crypto ecosystem, will offer IBAN accounts, SWIFT transfers in fiat currencies and credit cards for businesses related to cryptocurrencies.
– Éric Larchevêque, the founder of the cold wallets company Ledger, calls for the creation of a state-backed European cryptocurrency to serve as a bridge between the crypto-economy and the real world.
Quote of the day:
SBF @SBF_Alameda
This might be the lowest volume and volatility day the crypto industry has seen in a long time. I can’t remember the last time BitMEX traded under $1B and Bitfinex under $50m.
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