Cryptocurrencies keep moving downwards

Posted 21 August, 2018

Prices for cryptos remain on the downward track today. 

On the Bitfinex, the leading cryptocurrency Bitcoin lost some 0.60% falling to $6,407; Ethereum on this platform changed hands at $274.33 (around 4% down).

Ripple and Litecoin were quoted at $0.32502 (3% down) and $55.120 (1.5% down).

Cryptocurrencies showed generally negative dynamics. The crypto market capitalization dipped to $210 billion over the day, compared to $212 billion recorded yesterday.

One of the major crypto platforms Coinbase posted an 83% decline in trading to 43.9 billion ($21 billion in January). A market analyst believes that the exchange takes a tough competitive position in case of a lack of the firms' interest in crypto trading. 

Apart from Coinbase, Bitstamp and Kraken also recorded a plunge in volumes, while Binance and OKEx managed to improve their results. There are rumours that facing such a slump Coinbase can decide to acquire decentralized platform Paradex. 

However, crypto trading platforms are expected to double the figures year-on-year. In particular, revenue can hike to some $4 billion this year ($1.8 billion in 2017), as the experts think.
CME and CBOE are said to face some pressure as the third major player ICE is about to put into operation its bitcoin futures platforms in 2018.
 

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22 August, 2018 11:28

← US dollar changes slightly, players wait for Wednesday events

The US dollar shows modest changes vs the majors on Wednesday. The players study the reports in the USA and signs of further perspectives of the interest rate revision by the Central Bank. The euro-to-US dollar rate was recorded at $1.1559, while the yesterday's session was closed at $1.1571. According to the avaiable data, WSJ Dollar index is generally stable now.

US dollar changes slightly, players wait for Wednesday events

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21 August, 2018 16:34

Marginal trading unavailable at Bakkt platform →

The new integrated exchange Bakkt is said not to support marginal trading, with all transactions to be backed by assets. A few weeks ago, NY Intercontinental Exchange (ICE) expressed intentions to launch a company that will target an open regulated ecosystem of digital assets, using the cloud service of Microsoft.

Marginal trading unavailable at Bakkt platform
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