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 Tuesday, crypto assets were generally intact, with Bitcoin keeping to the $3,400 band in the face of a lack of triggers for key price action.
Market participants paid attention to the latest crypto industry news, in particular Kraken’s recent statement. So, one of the most popular crypto exchanges in the United States told that it would have UK-based index provider Crypto Facilities acquired.
The given move actually positions the San Francisco-based crypto exchange for further expansion into futures trading. As a matter of fact, based in London, Crypto Facilities provides trading of crypto futures.
As Kraken officials told, in the nearer future they’re going to resume enhancing and expanding these offerings.
Eventually, Kraken managed to process approximately $90 billion in trading volume the previous year.
Bitcoin, the world’s number one digital coin managed to head north by up to 0.4% ending up with an outcome of $3,462.70 on the Investing.com Index.
In general, digital coins were intact. As for their overall market capitalization, it amounted to $113 billion at the time of writing. Crypto assets have been thinly-traded for the last several days. It took place due to the fact that South Korea, China as well as other Asian countries are involved in celebrating the lunar new year.
In addition to this, Ethereum headed south by 0.10% concluding the trading session at $107.53. Besides this, XRP slumped by about 1.16% being worth $0.29779. As for Litecoin, it was worth $34.158, heading north by up to 0.26%.
Furthermore, six Saudi Arabian financial institutions have joined the United Arab Emirates on a joint crypto project with the aim of developing a digital currency to fund transactions between the two countries.
The project is going to be implemented in 2020, as Argaam informed on Tuesday.
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Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.