Here you will find our daily update, which will provide you with all the main information and events on the crypto markets for the previous day.
Crypto market update
The cryptocurrency market cap has lost more than $100 billion in one day due to the newest market drop of Bitcoin and most altcoins. Bears are now in control again and have pushed Bitcoin back near level of $45,000. The altcoins are struggling even more. ETH is close to breaking below $3,000. Thus the cumulative market cap is down by more than $100 billion in a day to just over $1.9 trillion.
Bitcoin (BTC) Bitcoin is now trading at 45,216 USD (all data from Coingecko.com)
Ethereum (ETH) is now at 3,051 USD
PlatonCoin (PLTC) is now at 0,546 USD
Total marketcap is currently at 1.990 trillion USD
Daily news update
Binance has new manager: Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Greg Monahan, a former U.S. Treasury criminal investigator, as its global anti-money laundering officer, according to a company statement.
Centralized exchanges see inflow: Centralized exchanges saw inflows of more than $222 million worth of stablecoins yesterday. The timing of this huge spike seems to match up with that of Bitcoin’s price showing a dip. The exchange inflow is an indicator that shows the amount of stablecoins entering centralized exchanges from personal wallets. When the value of this metric goes up, it means more investors are sending their coins to these exchanges for buying other cryptocurrencies like Bitcoin.
Fidelity report: Fidelity says that 90% of its biggest clients are interested in accessing Bitcoin and other cryptocurrencies. The firm is now planning to open up the digital asset space to retail investors. For most investors, the primary entry into crypto has been Bitcoin (BTC) and, to a lesser extent, Ether (ETH). Tom Jessop, who heads Fidelity Digital Assets, said the pandemic was a major motivator for investors to finally get into crypto
Visa and crypto: To date, 54 crypto companies have partnered with Visa to enable crypto spending. Much of this progress comes from the issuance of debit cards using Visa’s FastTrack program, which is targeted towards integrating fintech companies with the Visa network. Over the summer, the firm launched two more products, a crypto rewards credit card in partnership with BlockFi and a debit card with major crypto exchange FTX, which just raised a record $900 million at an $18 billion valuation.
Lloyds wants to enter cryptoworld: Lloyds Banking Group, the British parent company of Lloyds Bank, is currently hiring a “digital currency [and] innovation senior manager,” according to a recent job listing posted to BYP Network. Lloyds is one of the largest financial services firms in the world with close to $500 billion assets under management (AUM). The new digital currency job advertisement highlights the new employee will work with the firm’s mobile banking network with “over 30 million customers.”
IBM and Nomura to use blockchain: IBM Japan, Mitsui Chemicals and Nomura Research Institute have announced a new consortium to explore how blockchain technology can be used to create better plastic recycling methods, according to a press release from the NRI.
NFTs Sad Frog delisted: Sad Frogs District, a recently launched Ethereum-based NFT project featuring 7,000 randomly-generated profile pictures, has been removed from leading NFT marketplace OpenSea following a DMCA takedown request from artist Matt Furie, creator of the popular Pepe the Frog meme. OpenSea shared word of the project delisting via its official Discord server yesterday, specifically stating that the company responded to the request from Furie.
Dogecoin: Following a few years of inactivity, the Dogecoin Foundation is being reestablished with Ethereum co-founder Vitalik Buterin serving as the organization’s “blockchain and crypto adviser,” according to an announcement posted Tuesday on the foundation’s website.