Current Bitcoin Price: $6716 (as of 9:00 AM PST)
What an exciting day it is in the cryptocurrency market! Only a handful of the top-100 cryptocurrencies are in the red, with most other currencies rising more than 5% today. We can’t go any further without mentioning the star of the show — Ripple — which has followed an incredible upwards swing of more than 88%.
Bitcoin and Ethereum are holding on, with the two coins up by 4.38% and 7.89% respectively. However, this means that XRP has now overtaken ETH for the number two spot on the cryptocurrency market capitalization charts!
Top Bitcoin & Crypto News Stories for 21st September 2018
A constant topic of discussion in the cryptocurrency space — albeit a controversial one — is the possibility of a Bitcoin ETF. In fact, there have already been multiple applications to issue a crypto-backed ETF, but it’s up to the United States Securities and Exchange Commission to approve them.
The cryptocurrency community had been patiently anticipating their September 30th decision on VanEck’s BTC ETF proposition, which was delayed yesterday until yet later this year.
Stable cryptocurrencies, while not much of a speculative asset, combine the best of fiat currency (i.e. stability) with the best of cryptocurrency (i.e. fast, decentralized exchange). Tether pioneered the idea last year, and since then others have followed suit.
The latest stable coin is the Gemini Dollar, created by the Gemini exchange founders, the Winklevoss brothers. New York regulators have just made the move to approve this currency.
Among all the big-money institutions coming into crypto there’s Fidelity Investments, which manages over $2.4 trillion of assets. As you can expect, they’ve been looking at getting into crypto.
Fidelity has turned down the offer of Bakkt investment, in the pursuit of creating their own, in-house cryptocurrency exchange!