This video is a recap for the cryptocurrency market for the week ending October 21, 2018.
Video Content:
00:08 Cryptocurrency movements
01:17 Token movements
02:12 Developments in the cryptocurrency world
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Highlights:
– Last week, there was a lot of price action led by market uncertainty surrounding the stable coin Tether, which drove Tether price down to as low as 90 cents. Traders sold Tether and bought cryptocurrencies such as Bitcoin, which temporarily drove Bitcoin price up to $7,400 dollars at one point.
– With generally positive market sentiment, all of the major coins went up during the week. Bitcoin rose 3% to almost $6,500 dollars by the end of the week as average trading volumes increased 12% from the previous week. Ether prices moved up 5% to $205 dollars as trading volumes improved as well.
– Huobi and OKEx, two popular crypto exchanges, announced the listing of four USD-backed stablecoins and will start accepting deposits and withdrawals for them. The stablecoins that were selected by both exchanges are Paxos Standard, TrueUSD, USDCoin and Gemini Dollar.
– Fidelity, one of the largest mutual fund managers in the world, is launching an institutional platform for bitcoin, ethereum and other cryptocurrencies. The platform will be operated by Fidelity Digital Assets which will provide custody solutions, a trading execution platform and advisory services 24/7.
– The SEC announced the launch of the Strategic Hub for Innovation and Financial Technology, or ‘FinHub’ for short. This brand new portal will provide blockchain and fintech companies a more streamlined way to deal with legal and regulatory matters.
– Constantinople, which is Ethereum’s next highly anticipated hard fork, has been postponed until early 2019. The upgrade was initially planned for release in November 2018 but after several bugs were discovered in the testnet code, developers were forced to delay the upgrade to late January or February 2019.
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Disclaimer
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don’t invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.