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%).

Chart of the day:

XRP/USD

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.