There has been almost no overall movement in the past 24h as total market cap remained nearly static at 349b. BTC (+1.3%) and ETH (+1.1%) have had very minor gains as the crypto market is stuck in a rut that it needs to break out of to get back to the 400b+ market cap from a month ago.
Altcoins have had some more movement with some significant winners and losers. Blockchain infrastructure coin Aeternity (AE +13.5%) leads the way for the winners, along with Siacoin (SC +9.3%) and Zilliqa (ZIL +9.0%).
The biggest losers of the day were recently highflying Huobi Token (HT -7.9%), CyberMiles (CMT -4.8%) and MOAC (MOAC -3.8%).
The biggest news items of the day are all exchange related. The founder and CEO of Binance, CZ, has stated in an interview that they have successfully opened a new bank account in Malta and that they are working towards being able to offer fiat <-> crypto trading by the end of the year. However, this fiat trading would be restricted at first to Malta, expanding thereafter to Uganda and Asia.
Coinbase have announced that they are on track to become a US-regulated blockchain securities trading venue. This would mark a major step towards the blockchain space becoming more regulated and thus safer for retail investors (less scams).
Traditional Asset Management titans Fidelity have started looking for talent to help develop a cryptocurrency exchange. CEO Abigail Johnson is a firm proponent of Bitcoin, and Fidelity entering the Crypto space could give retail investors a huge boost of confidence when it comes to investing in crypto. Fidelity entering the crypto space would absolutely be a game changer and would likely trigger a rush of incoming investment from traditional institutional investors. Exciting times ahead if it comes to fruition.
Black Horse Group is a digital asset investment and advisory firm based in Hong Kong.