Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
Bitcoin stands still
On Monday, cryptocurrencies demonstrated mixed performance, with Bitcoin standing still because trade was still thin because of the American holiday.
As a matter of fact, on the Bitfinex exchange Bitcoin managed to ascend by 0.02% coming up with an outcome of $7,2327.40. By the way, the trading session was anticipated to be light enough, as market participants in America celebrated the Labor Day holiday.
In general, crypto assets turned out to be a bit lower. The coin market cap of the total market capitalization accounted for $235 billion at the time of writing versus Sunday’s outcome of $239 billion.
The number two crypto asset by market cap, Ethereum went down by 1.03% ending up with $287.87. At the same time XRP, which appears to be the third largest digital coin, slumped by 1.17% showing $0.33441. As for Litecoin, it reached $64.762 adding 0.14%.
Japan’s Financial Services Agency is rolling out stricter registration rules for crypto exchanges. Tha’ts what the Japan Times informed on Sunday. As for the rules, they’re expected to supervise whether crypto exchanges are conducting risk management in the right way or not. The changes include, minutes of board meetings, more application questions as well as reviews of the companies’ shareholders.
Japan turned out to be the first country in the world to officially legalize crypto exchanges with the licensing regime started in 2017. After a number of exchange hacks, the watchdog has closely watched currently existing crypto companies and has provided business improvement orders to some of them.
In addition to this, web-browser Mozilla Firefox is expected to block crypto mining malware. Well, as crypto assets are getting more popular, security still appears to be one of the greatest hurdles to the industry. Future versions of Firefox are going to have crypto mining practices blocked by default.
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Ethereum crossed $3000 recently and is aiming at $3500 already. Is it taking over Bitcoin's place?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.