Wednesday, October 28, 2020

US bans Petro, Binance suffers a flash crash – Crypto In-Shorts

The Takeaway:

16th September 2019: Are you tired of scouring the web for the latest crypto-updates? Enter the world of Crypto In-shorts on Chaintimes and find all you need!

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Crypto bulletin

Millennials prefer traditional over crypto investments

Michelmores survey revealed that traditional investments outshine cryptocurrency investments. As reported, out of 500 millennials, only 20% invested in cryptocurrencies. 37% of them invested in shares, and 37% in pensions and stocks. Besides these, people invested in life insurance, investment trusts, and fixed-income securities.

Catch-26 for Libra 

Facebook’s Libra will be under the scrutiny of 26 central banks in Switzerland, as reported by Financial Times. Among the assembled central banks, executives from the Bank of England, US federal reserve, the Bank of International Settlements’ Committee on Payments and Market Infrastructure will be questioning Libra’s executives.

Another executive order ban: Venezuelan Petro

Trump has passed another executive order banning Venezuelan Cryptocurrency- Petro, in the United States. Although the order is yet to be voted into law, the community fears eventual bans on other crypto coins as well.

Binance suffered from an accidental flash crash 

Changpeng Zao allegedly called a Binance Bitcoin Futures an attacker after a flash crash on its platform. No liquidations occurred, and the incident was later reported to be an unintentional accident from the client’s side.

Cuba drives the crypto wheel

People in Cuba turn to cryptocurrencies to overcome US regulations. As reported by Reuters, Bitcoin is an active mode of transaction in the island. Currently, the crypto trading stands in the gray legal territory of the country; however, the President of Cuba had declared to ascend the use of virtual money to boost the suffering economy.

Stop getting REKT by exchanges 

Exchanges offering margin trading are manipulating the market to earn profits through liquidation. Technical errors, wash trading, and insider trading are some of the few tactics used by these exchanges.

 

Bitcoin Price

Current Bitcoin Price – $10,123.0

Yesterday, Bitcoin opened at a price of $10,356.47. The fluctuations drove it to the lowest value of $10,313.09 and the highest value of $10,387.03 in 24 hours. Bitcoin closed at $10,347.71 and saw a decrease of 0.08% throughout the day. The crypto coin is still below its all-time high value of $20,089.00 by 48.29%.

Ethereum Price

Current Ethereum Price – $191.28

Yesterday, Ethereum opened at $188.07. The fluctuations drove it to the lowest value of $186.45 and the highest value of $190.40 in 24 hours. Ethereum closed at $189.79 and saw an increase of 0.91% throughout the day.

The crypto coin is still below its all-time high value of $1,432.88 by 86.71%.

Cardano Price

Current Cardano Price – $0.046210

Yesterday, Cardano opened at $0.046507. The fluctuations drove it to the lowest value of $0.046231 and the highest value of $0.047114 in 24 hours. Cardano closed at $0.046799 and saw an increase of 0.63% throughout the day.

The crypto coin is still below its all-time high value of $1.33 by 96.45%.

 

Bitcoin Market Cap

The day ended with $185,863,090,038 for the Bitcoin Market Cap.

 Ethereum Market cap

The day ended with $20,952,646,876 for the Ethereum Market Cap.

Cardano Market cap

The day ended with $1,220,278,996 for the Cardano Market Cap.

 

Bitcoin Trading Volume

The 24-hour trading volume of Bitcoin – $12,426,036,820

Ethereum Trading Volume

The 24-hour trading volume of Ethereum – $6,744,859,458    

Cardano Trading Volume

The 24-hour trading volume of Cardano – $42,352,786

 

Whale alerts

Crypto enthusiasts beware of these whales:

  1. 260,000,000 XLM ($15,008,070) transferred from an Unknown wallet to Kraken. Transaction ID: c78a7f8c941448b96bed0bffc892958b77d3f03e56053b71c363f92982ebc5bf
  2. 77,670 ETH ($14,675,117) transferred from an Unknown wallet to Huobi. Transaction ID: 0xcb11eea2e9ffca9dd29a8a6c219136878a10165921ad26f50da0c5260abd96f6

 

Crypto controversy

Nigerian kidnappers are employing bitcoins to fund their illicit activities

 

What to expect today?

Bitcoin has struggled to break the $10,400 resistance and has been consistent in the $10,300 range. Will it see an uptrend or test lower supports tomorrow?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

William Botello
William Botello
William is a market research coordinator who believes that blockchain technology and cryptocurrencies can revolutionize the financial landscape. He completed his studies in Arts and Sciences from Arizona State University.

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