Hi Platinum Followers,

Today’s video covers a range of topic from how the price action is developing across the crypto space and many of the major news.

Market Update

Bitcoin investors finally get found by Santa as Bitcoin rockets from $6,500 to levels close to $7,500.

Bitcoin could not afford to leave investors ungifted before Christmas. Santa had indeed lost his way to the crypto space, allowing Bitcoin to retest the lows traded in November. However, the recovery experienced remained unique to Bitcoin because other crypto assets including Ethereum and Ripple were largely unchanged.

Meanwhile, the total market capitalization rose significantly from $177 billion posted at the close of the session on Tuesday to $193 billion at the time of writing. The trading volume shot up as well from $77 billion to $106 billion in the same period. Bitcoin market dominance seems to be picking up the pace once again, besides it stands at 68.2%. In other words, altcoins are losing ground against Bitcoin and this could mean that the much-anticipated altcoin season is just but a mirage.

Ethereum and Ripple market update
Ethereum and Ripple gave a blind eye to Bitcoin’s impressive bullish reaction. Instead, the two cryptos are stuck close to their key support areas. For instance, Ethereum is trading 3% lower on the day at $129 while Ripple has shed 2.66% of its value to trade at $0.19098. The bearish trend coupled with the high volatility suggested that the downward momentum has the potential to continue.

Crypto MARKET News

Sweden’s Riksbank will be the first central bank in the world to RAISE its interest rates to ZERO.
Bakkt Bitcoin Futures Set New Record with Close to $50 Mln Traded in One Day

Forbes Now Lets You Use Cryptocurrency to Get an Ad-Free Reading Experience – Big step having such a financial powerhouse offer such a solution to its readership.

New players are reshaping crypto market structure, and that’s bad news for exchanges – The emergence of agency brokers is likely to trigger a change in some infrastructure business models, as well as a significant shift in how crypto markets work.

As concerns over crypto credit bubble mount, miners appear to be particularly at risk – Some experts believe the market is too small for a meltdown, but the upcoming halving puts miners, who often use their holdings as collateral for cash loans, in a vulnerable position.

NEW PRODUCTS

Fidelity to Expand Institutional Crypto Business to Europe – The digital assets platform has incorporated an office in London, with the aim of trading bitcoin for institutions throughout the region.

German Bank Launches Digital Assets Unit to Offer Custody Products – Berlin-based solarisBank, through a subsidiary called Solaris Digital Assets, will offer a white-labelled custody product and plans to apply for a license to custody crypto in 2020.

Here’s a New Banking Tool for Vetting Crypto Exchanges – Blockchain forensics startup Elliptic has launched Elliptic Discovery, which aims to give institutions up-to-date risk profiles of more than 200 of the largest exchanges globally.

France’s New ‘Napoleon Bitcoin Fund’ Is Tied to CME’s Cash-Settled Futures – French asset management firm Napoleon AM’s new fund, which offers exposure to bitcoin price movements without actually holding any, began trading on Dec. 6, with a minimum €100,000 ($110,000) buy-in for professional investors residing in France.

Equilibrium’s Stablecoin Now Has $17.5M in Insurance That Pays Out Automatically – EOSDT is now backed by smart contracts that pay out consumers if the dollar-pegged token crashes through its collateralized floor.

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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