Crypto Today: Market starts cautious correction

Here's what you need to know on 

Markets:

The BTC/USD is currently trading at $8,675 (-0.8% on a day-to-day basis). The coin has been moving within a short-term bullish trend, recovering from the intraday los of $8,580.

The ETH/USD pair is currently trading at $161.6 (-0.8% on a day-to-day basis). The Ethereum recovered from the intraday low of $158.39, though it is still 2.3% lower from the beginning of the day.

XRP/USD settled at $0.2267 after an attempt to settle above $0.2300. The coin is down 2.15% in recent 24 hours.

Among the 100 most important cryptocurrencies, the best of the day are Augur (REP) $15.8 (+46.06%), Kyber Network (KNC) $0.2632 (+17.78%) and Bitcoin Diamond (BCD) $0.7084 (+12.76%), The day's losers are, Bitcoin SV (BSV) $293.5 (-15.7%), Bitcoin Gold (BTG) $12.9 (-10.95%) and Synthetix Network Token (SNX) $0.9513 (-10.7%).

Chart of the day:
BTC/USD, 4-hour chart, Double-top formation

The cryptocurrency market has entered a correction phase with some of the biggest winners of the recent rally now losing ground. Bitcoin SV has lost over 15% of its value and moved to the fifth position in the global cryptocurrency rating. 

Industry:

The cryptocurrency exchange, Bitstamp has joined forces with Silvergate Bank to offer Bitcoin (BTC) leveraged trading options. The trading platform will provide access to the bank's leverage trading service - Silvergate Exchange Network (SEN), according to the official announcement. The joint project is launched in a pilot mode. At this stage, the only selected institutional customers will get access to leveraged trading.

Ethereum Classic Labs warned of another scam that tried to capitalize on the recent Agarata fork. The team reminded that the fork did not result in a new coin, thus, anyone how states otherwise are scammers.

This, @etccore, is a "malicious" scam. They will steal your password and private key and send it to their servers.

Regulation:

The House Financial Services Committee has been exploring cryptocurrencies' influence on domestic terrorism, extremism and acts of hate in the United States. During hearing that took place on January 15, the Committee listened to five experts reporting on various fundraising methods used by domestic extremists. They outlined digital assets as an important financing tool for hate crimes.

The experts of the United Nations say that participating in the North Korean cryptocurrency conference in February would be qualified as a violation of sanctions. According to the recent report, the regime might receive financial and technical consultations that will help it to avoid sanctions.

Quote of the day:

Reminder: the dollar is *already* digital. Do you think the number in your bank account is a tally of paper in the vault? When you pay someone with your credit card, do you imagine a shipment of bills is initiated behind the scenes? USD and BTC are both digital. One is scarce.

Erik Voorhees, CEO of ShapeShift