Daily update: September 23rd, 2021

insecurity, hodl, daily, week 44

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

After yesterday’s adverse price movements, Bitcoin has finally bounced off by reclaiming several thousand dollars in a day, however the asset was not able to maintain the new price above $44 000 and dropped down a bit later. Most alternative coins have also reacted well with numerous double-digit price gains, before retreating a bit too. Crypto market cap has recovered $200 billion since yesterday’s low and is slightly above $2 trillion as of now.

Bitcoin (BTC) is now trading at 43,922 USD (all data from Coingecko.com)

Ethereum (ETH) is now at 3,103 USD

PlatonCoin (PLTC) is now at 0,452 USD

Total marketcap is currently at 2.053 trillion USD

Tip: Prices of cryptocurrencies fell, what now?

Daily news update

Whale buys more BTC: After buying 321 bitcoins two days ago, one of the largest BTC whales has made another sizeable purchase – this time 408 BTC. As such, their total stash has grown to over 112,000 coins, at least in this one address.

Kraken with ApplePay and GooglePay: In a blog post, Kraken indicated that users can now automatically connect the Kraken App with the two payments platforms and purchase over 50 cryptocurrencies. The exchange notes that with the payment apps, users can purchase digital currencies at a minimum of $10, with the maximum limit set at $7,500 during a seven-day rolling period. The integration of Apple Pay and Google Pay eliminates the previous form of buying digital assets that required users to copy and paste their account details from their internet banking app.

Bhutan and CBDC with Ripple: Ripple is in the news today after it announced a partnership with Bhutan’s central bank – the Royal Monetary Authority (RMA) – for a central bank digital currency (CBDC) pilot.

Basel rules on cryptocurrencies: Nine banking industry associations have submitted a letter to the Basel Committee on Banking Supervision (BCBS) in response to its proposal to introduce stringent capital requirements for banks looking to hold crypto assets on their books. In June of this year, the BCBS had published a consultation paper that assigned a 1,250% risk weight to Bitcoin (BTC), meaning that banks would need to hold $1 in capital for each $1 worth of exposure they have to Bitcoin.

Dubai approved for cryptocurrencies: The Dubai World Trade Centre Authority (DWTCA) announced Wednesday that it had signed an agreement with the UAE’s Securities and Commodities Authority (SCA) to support the regulation and trading of crypto assets within the DWTCA free zone. The new initiative establishes a framework enabling the DWTCA to issue necessary approvals and licenses for financial activities related to cryptocurrencies. As part of the agreement, the SCA will also supervise major crypto-related activities, such as issuance, listing, trading and licensing processes.

UK regulator and blokchain: According to the FCA, the blockchain-based digital regulatory reporting initiative seeks to lower costs in compliance checks. The initiative is being undertaken in partnership with the bank of England. FCA head Nikhil Rathi notes that the current regulatory reporting is estimated to cost between £1.5 billion to £4 billion annually for the 20,000 rules across 58,000 firms.

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