Daily update: September 29th, 2021

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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 another dip below $41,000, Bitcoin has recovered a few thousand dollars in hours. Most alternative coins also lost substantial chunks of value in the past several days. Ethereum went from above $3,100 to around $2,900. The second-largest crypto has stalled since then and still stands just over that level. Total marketcap is fighting below $2 trillion.

Bitcoin (BTC) is now trading at 42,336 USD (all data from Coingecko.com)

Ethereum (ETH) is now at 2,923 USD

PlatonCoin (PLTC) is now at 0,554 USD

Total marketcap is currently at 1.951 trillion USD

Tip: Types of blockchain

Daily news update

Musk on crypto: As global regulators continue to scrutinize the cryptocurrency industry, Tesla CEO Elon Musk has expressed support for crypto, calling it indestructible.“It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement,” Musk said at the Code Conference in California, CNBC reported Tuesday.According to the Tesla CEO, the decentralized nature of cryptocurrencies may be a challenge for the Chinese government, which announced a new war on crypto last Friday.

Metaverse and NFTs: Torum SocialFi platform has announced that it will be launching a ‘Social Metaverse’ and the world’s first-ever social-integrated Avatar NFT, following a strategic investment from Huobi Ventures back in August 2021. The conceptualization and creation of metaverses has been on the rise since the explosion of the NFT market, and Torum is leading the social side of this emerging industry with its Huobi-backed SocialFi platform and ecosystem.

Kraken fined by CFTC: U.S. crypto exchange Kraken has been hit with a hefty fine by the Commodity Futures Trading Commission (CFTC) for illegal crypto products. According to a CFTC statement on Sept. 28, Kraken allowed U.S. customers to access products that were supposed to be prohibited for them. The order requires Kraken to pay a $1.25 million civil monetary penalty and to “cease and desist from further violations of the Commodity Exchange Act.”

Morgan Stanley doubles holding of Grayscale: A Morgan Stanley investment fund is doubling the number of Grayscale Bitcoin Trust (GBTC) shares it holds. A filing with the U.S. Securities and Exchange Commission (SEC) shows that the Morgan Stanley Europe Opportunity Fund (EUGAX) increased the number of GBTC shares by 105% from the end of April to late July of this year.

Switzerland approved CFT: Reuters has reported that Swiss financial watchdog FINMA (Financial Market Supervisory Authority) has greenlighted the first investment fund that will be dealing mainly with digital assets.

Thailand and crypto: The Tourism Authority of Thailand (TAT) is considering launching its own cryptocurrency in order to make the Kingdom more appealing to tourists and crypto investors. The TAT Coin has been floated by Thailand’s tourism board which aims to capitalize on a growing number of cryptocurrency holders and investors. The agency is currently in discussions with the Stock Exchange of Thailand regarding the digital token which would be used in conjunction with vouchers, but would not be tradable according to reports.

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