Here is what you need to know on October 2

BTC/USD is trading at $10,570 after a notable 2% dip today after the negative news from BitMEX. 

ETH/USD had similar price action but remains stronger than the rest at $350. Bulls are trying to defend the 12-EMA on the daily chart to survive. 

XRP/USD lost several short-term support levels and its trading at $0.236.

Chart of the day: BTC/USD 15-minutes chart

btc price

Market

The U.S. Commodity Futures Trading Commission (CFTC) has just accused BitMEX of allegedly facilitating unregistered trading to customers. Arthur Hayes, Ben Delo, and Samuel Reed were all charged. Samuel Reed was, in fact, arrested this morning in Massachussets. 

The U.S. Attorney for the District of New York has indicted all three individuals along with Gregory Dwyer on federal charges of 'violating the Ban Secrecy Act and conspiracy to violate the Bank Secrecy Act'.

Although this is not the first rodeo BitMEX has been through, it is by far the most serious one. Many investors quickly jumped into short positions expecting a wide sell-off and for the most part, it happened already with the market losing close to $14 billion in market capitalization. 

Industry 

Definer, which already conducted a successful token sale in September, it’s launching another smaller sale for the community. Definer is one of the most popular upcoming cryptocurrency projects and will conduct its new sale through Coinlist, a specialized token offering platform.

We wanted to give back to our community. Through this sale, everyone can have a chance to participate—not just the big investors, said Jason Wu, DeFiner CEO and Co-founder. Our community has been so helpful and patient. They are the foundation of our ecosystem. So they deserve access to its founding.

Diginex Limited, a cryptocurrency exchange that raised $50 million will be listed on Nasdaq starting today using the ticker ‘EQOS’. 

Richard Byworth, CEO of Diginex, commented:

 This is a watershed moment for both Diginex and the cryptocurrency industry with the listing of the first-ever company with a crypto exchange on Nasdaq. This also presents the first opportunity for anyone trading in the US capital markets to buy directly into the equity of a digital asset ecosystem and opens the door for financial institutions to participate in the enormous opportunity that digital assets present.

Quote of the day

PayPal had these goals of creating a new currency. We failed at that, and we just created a new payment system. I think Bitcoin has succeeded on the level of a new currency, but the payment system is somewhat lacking. It’s very hard to use, and that’s the big challenge on the Bitcoin side.

– Peter Thiel

 

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Ethereum price downside risks resurface amidst falling investor interest

Ethereum price downside risks resurface amidst falling investor interest

Ethereum price is trading marginally above $1,300 after its bullish shoots were slashed at $1,400 on Tuesday. The presence of immense buyer congestion at $1,255 cut short the pullback that may very well have tagged $1,200. 

More Ethereum News

This best-case scenario for Litecoin price forecasts a 20% drop

This best-case scenario for Litecoin price forecasts a 20% drop

Litecoin price action over the last few weeks paints a bearish picture, as discussed in our previous article. Since then, LTC has triggered a breakout and is likely to continue heading lower.

More Litecoin News

Shiba Inu price: Ethereum whale swallows 272 billion SHIB, becomes investors’ favorite

Shiba Inu price: Ethereum whale swallows 272 billion SHIB, becomes investors’ favorite

Large wallet investors on the Ethereum network are keen on accumulating Shiba Inu. The 130th largest Ethereum whale scooped up 272 billion Shiba Inu coins overnight. Analysts retain a bullish outlook on the altcoin. 

More Shiba Inu News

Dogecoin price provides sidelined buyers another opportunity before a 50% rally

Dogecoin price provides sidelined buyers another opportunity before a 50% rally

Dogecoin price undid its gains seen between September 21 and 24 as it came tumbling down, following the footsteps of Bitcoin price. This downtrend has provided sidelined buyers a chance to accumulate before the inevitable explosion of bullish momentum.

More Dogecoin News

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin price takes the first step to recovery but needs solid confirmation that will arrive after a flip of the $19,539 level into a support floor. After a successful flip, investors could expect a move up to an intermediate hurdle at $20,737.

Read full analysis

BTC

ETH

XRP