For an asset often touted as reliable in a volatile cryptocurrency market, stablecoins have been remarkably unstable in the last week. First, there was the problem with Tether. The stablecoin, which is the second-most traded cryptocurrency after bitcoin and accounts for 98% of daily trading volume in stablecoins, crashed last weekend as investors, fearful of Tether’s stability after news reports questioned Bitfinex’s solvency emerged, began … Continue reading Tether’s Loss Last Week Meant Gains For Other Stablecoins
The big boys are coming to play in cryptocurrencies. Asset management giant Fidelity Investments yesterday announced its entry into the cryptocurrency ecosystem with Fidelity Digital Assets – a new service aimed at institutional investors. The new business will provide three offerings to customers – custody solutions for coins, cryptocurrency trade execution through matching of counterparties, and customer service for bitcoin and ethereum’s ether. The Boston-based … Continue reading Fidelity Announces Cryptocurrency Offerings For Clients
The price for Tether, the dollar-pegged stablecoin at Bitfinex, crashed over the weekend as investors fearful about its reserve deposits, sold the coin. The extent of damage to Tether’s price varied across various cryptocurrency exchanges from five percent to more than thirteen percent. According to some reports, Tether’s price dropped to $0.85 at Kraken, a prominent exchange. (Since Tether is a stablecoin, its price typically … Continue reading Why Did Tether’s Price Crash Over The Weekend?
Since it came to public attention, bitcoin has made as much news for the volatility in its prices as for its scandals. Thin liquidity volumes in bitcoin markets mean that it’s prices can be easily manipulated through large trades. Market players responsible for these large trades are known as bitcoin whales because they hold large stashes of the cryptocurrency. They have been blamed for the … Continue reading Bitcoin Whales May Not Be Responsible For Price Volatility
In a move that mimicked the equity selloff in stock markets around the globe yesterday, bitcoin price crashed by as much as 6% in less than two hours this morning. Major coins, such as Ripple’s XRP and Ethereum’s ether, followed suit and cryptocurrency markets crashed by almost 11% in the same timeframe. In monetary terms, the declines translated to a decline of $13 billion. Since … Continue reading Bitcoin Price And Crypto Markets Crash After Global Equity Selloff
In a major win for the company, Bitwise Asset Management announced that Ric Edelman, founder of Edelman Financial Services, has invested in and become an advisor to the firm. Bitwise launched the world’s first cryptocurrency index fund last year and has also filed for a bitcoin ETF. Edelman Financial Services is among the largest independent financial advisory firms in the country and has been ranked … Continue reading Bitwise Adds Ric Edelman As Advisor; Sees Shift In Client Mix Due To Crypto Market Downturn
Up until now, the increase in cryptocurrency trading volumes is said to be largely driven by retail investors. This has led to wild price swings and volatility. As institutional investors and hedge funds enter cryptocurrency markets, however, decentralized dark pools are expected to mop up a portion of the existing trading volume at cryptocurrency exchanges. Dark pools are trading venues for holders of large institutional … Continue reading Republic Protocol Launches RenEx – A Decentralized Dark Pool For Cryptocurrency Trading
Brokerage firm TD Ameritrade has invested in ErisX, a new cryptocurrency platform for spot trading and derivatives products. ErisX is led by Citigroup trading veteran Thomas Chippas. The company’s first product, which is a spot trading exchange, will be released next year. The company will offer bitcoin, bitcoin cash, ethereum, and litecoin to the investing public. It will also offer bitcoin futures contracts that are … Continue reading TD Ameritrade Invests In ErisX, A New Crypto Exchange