Crypto Today: Fear takes over the crypto market
|Here's what you need to know on Thursday
Markets:
- The BTC/USD pair is currently trading at $7,151 (-0.72%), after yesterday's sudden late drop, dragging the market down as a whole.
- The ETH/USD pair is currently trading at $142.01 (-1.02%). Technically, the decline has been inoffensive but it is moving very close to critical levels.
- XRP/USD is currently trading at $0.219 (-0.91%). While XRP doesn't show much intention to go up, it's admirable the ability it shows lately to withstand when sellers show up.
- Among the 100 most important cryptocurrencies, the best of the day are WAVES $0.619 (+14.48%), EKT $0.1004 (+7.43%) and ATOM $3.85 (+5.39%). The day's losers are MATIC $0.01612 (-11.97%), FET $0.05115 (-8.67%) and LINK $2.08 (-6.91%).
Chart of the day:
Market:
- Google searches related to Bitcoin and Ethereum plummeted from their maximum levels. Searches for the term Bitcoin have dropped by 94%, while searches for the word Ethereum have fallen a whopping 96%.
- Lithuania joins the list of countries with ongoing blockchain projects. The Baltic country will issue its first digital coin on the occasion of the celebrations for the independence of the country from the former USSR.
Industry:
- Nike has registered the name "CryptoKicks" for its Blockchain project, with which it intends to link the sneakers it sells with a token that guarantees its authenticity.
- Microsoft presents its Blockchain technology project, "Azure Heros." The project runs on the Ethereum network and seeks to reward loyalty and activity in the Azure community.
- London-based cryptocurrency compliance firm Elliptic presents a tool that would allow the connection between existing banking technology and the ecosystem in which Crypto Exchanges move.
Regulation:
- Kenneth A. Blanco, director of the Financial Crimes Enforcement Network (FinCEN), has expressed his satisfaction with the progressive adaptation of crypto projects to the regulatory requirements demanded. Blanco highlights the increased levels of collaboration to pursue suspicious activities in crypto space.
Quote of the day:
Jay Clayton, SEC's Chairman
As I have previously stated, I am optimistic that developments in distributed ledger technology can help facilitate capital formation, providing promising investment opportunities for both institutional and Main Street investors.
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