Here’s what you need to know on
Markets:
BTC/USD is currently trading at $9,225 (-0.2% on a day-to-day basis). The coin has recovered from the recent lows under $9,200, but the short-term trend remains bearish.
The ETH/USD pair is currently trading at $190.17 (+1.68% on a day-to-day basis). Ethereum recovered from the intraday low of $187.82; now, it is moving within a short-term bearish trend amid low volatility.
XRP/USD settled at $0.2800 having gained over 11% in recent 24 hours. The coin has been one of the best-performers out of top-20.
Among the 100 most important cryptocurrencies, the best of the day are KickToken (KICK) $0.00012 (+21.5%), Decentraland (MANA) $0.0457 (+16.5%) and Lisk (LSK) $1.24 (+13.7%), The day’s losers are, ICON (ICX) $.4285 (-10.5%), Molecular Future (MOF) $1.16 (-7.42%) and Swipe (SXP) $1.64 (-6.92%).
Chart of the day:
XRP/USD, 4-hour chart
Market:
Ripple’s XRP has been one of the best-performing coins out of top-20 on Tuesday, XRP/USD gained over 11% during the day and tested area above $0.2800 amid the news that BitMEX was about to launch perpetual quanto swaps on XRP/USD. Apart from that, a San Francisco-based fintech startup with close ties to Ripple received about $200 million in XRP from Ripple’s escrow account. Many industry players noted that this was a precursor of a massive sell-off as the startup was likely to dump the received tokens for fiat.
Industry:
TradingView announced partnership with the cryptocurrency exchange Gemini. Thanks to the collaboration, users will have a direct access to their Gemini accounts from TradingView charts. Meanwhile,TradingView users will be able to trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Zcash via the cryptocurrency exchange founded by the Winklevoss twins. It is not the first TradingView integration with a cryptocurrency exchange. In 2018 the company singed an agreement with Poloniex.
Ethereum miners revenues dropped by 75% in 2019, while Bitcoin miners revenues stayed mostly unchanged, according to the lates research performed by Larry Cermak from The Block.
Ethereum miners generated $936M in revenue in 2019, which is only about 18.7% of the revenue of Bitcoin miners. That’s a big decline from 2018 when ETH miners generated almost 72% that of Bitcoin miners.
Coinbase introduced limitations on withdrawals, a reddit user reports. He complained that the exchange would not allow then to withdraw more than $10 per day. The exchange neither notified the user in advance, nor provided explained the restriction.
Regulation:
The Chairman of Russian State Duma Committee on Financial Assets, Anatoliy Aksakov said that Duma may pass the law on digital assets by the end of March. He explained that discrepancies between regulators and governmental bodies caused the delays in passing the bill. According to Aksakov, they managed to agree controversial issues and hopefully the text of the bill can be sent to competent bodies and authorities for approval.
Quote of the day:
If you do not understand what actually makes Bitcoin scarce, no amount of technological wizardry, dazzling pitch decks, or social media cheerleading will compensate for your lack of economic insight.
Eric Lombrozo (@eric_lombrozo) Co-founder & CEO Ciphrex
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