Here's what you need to know on Wednesday
BTC/USD is currently trading at $7,250 (-0.20%) in the morning in Europe and is trying to stay above the $7,100 support level.
ETH/USD is currently trading at $146.7 (-0.35%) and cannot stay above the $150 key resistance level.
XRP/USD is currently trading at $0.215 (-1.03%), finally losing the critical support level at $0.22.
Among the 100 most important cryptocurrencies, the best of the day are DX $0.000984 (+15.79%), KNC $0.20745 (+15.45%) and RVN $0.0266 (+7.24%). The day's losers are EKT $0.07526 (-12.29%), RLC $0.5191 (-12.27%) and QNT $5.45 (-11.21%).
Chart of the day:
- Ethereum developers have made a hard fork proposal called Muir Glacier, to undo or mitigate the effects of the enhancement layer known as the Ice Age. This theoretical improvement increases the difficulty of mining in Ethereum, slowing its growth.
- Jacob Canfield, a well-known crypto guru with thousands of followers on Twitter, believes that Bitcoin's current weakness is due to sales coming from the booty of the PlusToken scam. This South Korean platform promised significant interest rates to Bitcoin's depositaries.
- Japan continues to support the growth of the cryptocurrencies market. The FSA licenses LastRoots after nearly three years of waiting since the company filed the petition. Japan now has 21 approved platforms to serve the cryptocurrencies market.
-The CEO of BAKKT, Kelly Loeffer, could become US Senator in the coming weeks, filling the vacancy left by Senator Johnny Jackson. Loeffer's presence in the dome of US power is very positive news for the crypto ecosystem.
- OKEX launches two new futures instruments on cryptocurrencies pairs. On this occasion, XRP/USDT, ETC/USDT are the chosen pairs. The cryptocurrencies futures market is experiencing slow but steady growth.
- A tweet from the Litecoin Foundation has been used to announce a proposal to add a privacy layer to the exchanges made on the Litecoin network. This Litecoin improvement proposal (LIP) plans to implement a new transaction format called MimbleWimble.
Quote of the day:
Spencer Bogart, venture capital firm Blockchain Capital
.... in May 2020 of next year, we have the next having. So the rate of new issuance falls. It's a little bit less selling pressure, and I think that's overall constructive on price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.