Latest Market News
The market moved sideways for much of the week and continued to be relatively stable as the total valuation moved within a $3B range and stayed close to $210B for the majority of the seven day period. Revain, Nexo and Veritaseum produced the biggest gains in the crypto top 100.
Ripple have released their Q3 XRP market report, revealing that the company has sold $163 million worth of XRP tokens between July and October. This is a drastic improvement in comparison to Q2, where the company sold a total of $73.5 million worth of XRP.
The IDEX cryptocurrency exchange, which bills itself as a decentralized exchange, has started blocking orders from users with IP addresses from New York State. IDEX said on its official Twitter account that they decided to block users from the State of New York because the exchange doesn’t have a BitLicense.
Tether, the issuers of the USDT stablecoin, have destroyed 500 million USDT tokens that were held in its treasury wallet. The company says today's reduction of the USDT supply is a result of a significant amount of USDT redemptions.
Intercontinental Exchange’s foray into the cryptocurrency space, Bakkt, is planned to launch on December 12 according to an official notice. The service is, however, still waiting for approval from the U.S. Commodity Futures Trading Commission (CFTC), which could potentially set back its launch.
Binance, one of the leading cryptocurrency exchanges by trading volume ($734 million 24-hour volume), has announced the listing of Decred (DCR). Traders will be able to trade DCR against both BTC and BNB starting tomorrow (October 24). After the listing was announced, the DCR token has benefited from the “Binance bump”, as it has seen a noticeable increase in price.
The market is currently going through a period of relative stability, and this week’s projects are all engaged in a series of meet ups and blockchain forums that should result in an increased amount of attention for each of the selected projects, and provide the opportunity for significant announcements from their respective teams.
The cryptocurrency custody company BitGo has raised $57.5 million in a Series B fundraising round, which included investments from investment banking heavyweight Goldman Sachs and Michael Novogratz’s Galaxy Digital Ventures. According to Bloomberg, the two firms contributed a combined $15 million to BitGo.
U.S. cryptocurrency exchange Poloniex has listed BNT, the token powering the Bancor decentralized liquidity network. On Poloniex, traders will be able to trade BNT against BTC, ETH and USDT starting with October 19 at 16:00 UTC.
NYU economics professor Nouriel Roubini, who is commonly referred to as “Dr.Doom” after he predicted the 2008 financial crisis, is well-known for his contempt of cryptocurrency and blockchain technology. Recently, he attacked Ethereum co-founder Vitalik Buterin on Twitter, and Buterin responded by revealing some interesting facts about himself and the Ethereum Foundation.
