Hi Platinum Followers,
Todays Market news covers an update on BTC and ETH as well as looking at important news in the market. Starting with A BTC update we have seen lows of $6,900 to $7,550 in the last days despite the theft at the leading South Korean exchange Upbit, validating the seller exhaustion signalled by key technical indicators earlier this week.
We also see how passive income from decentralised Finance options is becoming more prevalent in the crypto space. The amount of ether, the world’s second-largest cryptocurrency by market capitalization, locked in the decentralized financial system (DeFi) continues to grow.
A month ago, one in 45 ether were locked in DeFi. That number has improved to one in 40, according to @defipulse. Further, the number of ether locked in DeFi has jumped to a record high of $2.7 million.
The Case for a Bitcoin ETF – This has been a long ongoing battle between companies and the SEC, Dave Weisberger of CoinRoutes believes that the SEC, in denying bitcoin ETFs, is putting subjective judgement before fair market principles.
Willy Woo pointed out that holding bitcoin is “using” bitcoin, There are sways of people who argue BTC has no real value other than speculation on price Willy Woo recently countered this because its use as a potential store of value takes advantage of its unique characteristics.
Institutional Market Insights, 2nd edition (Binance) – A survey of 76 institutional investors, managing crypto holdings of between $100,000 and $25 million, which revealed some unexpected findings: for instance, the largest risks for the sector are platform-specific issues and tether’s ongoing legal issues. Plus other major points are also explored driving a greater understanding of how Institutional investors are approaching the market.
Fidelity Digital Assets to Sign Up Its First Crypto Exchange by End of the Year – So far, the platform has been working with OTC desks, but would like to broaden its pool of liquidity providers.
NEW CRYPTO ONRAMPS
Bakkt’s Bitcoin Futures Launch in Singapore in Just Two Weeks – The cash-settled monthly bitcoin futures will be available globally to all ICE customers.
Silvergate Bank CEO Bets on Higher Crypto Price Volatility After $40M IPO – The bank is using part of its recent listing proceeds to develop new services, including lending.
Now Publicly Quoted: Grayscale’s Diversified Investment Product (Grayscale) – Congratulations to The Grayscale Digital Large Cap Fund is now publicly quoted on the OTCQX market under the symbol GDLCF, making it the first multi-asset publicly traded crypto fund in the U.S.
Hopefully, you have enjoyed today’s article. Thanks for reading!
Have a fantastic day!
Live from the Platinum Crypto Trading Floor.
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