This Tokenleak cryptocurrency news update finds the market stuttering towards some sort of stability, one which many will hope continues throughout 2019…
CoinMarketCap has the overall value of the coin market at around 130 billion US dollars (USD) today after a slide of roughly 15 billion across the week. This may seem dramatic but the ebb and flow we’ve seen so far in 2019 speaks of a market attempting to find its true value, as opposed to one falling foul of the wild volatility we saw in 2017/18.
Head honcho, Bitcoin, has drifted back from the 4,000 dollar-mark and once again sits at a familiar 3,800 USD today having lost 2.89% of its value across the week. Nonetheless, BTC continues a positive start to the year and is up 11% for February as a whole.
Ever the market whipping post, Ethereum, suffered a slump of nearly 8% over the past seven days leaving its coin price at 135 USD today. Again, this price feels a good fit for the dApp platform, at least for now.
Number 3 in the ratings is Ripple, which also appears to be enjoying a contiguous period of stability. This is due to the token’s huge institutional backing as much as anything else. XRP was down by half a per cent this morning having experienced negligible movement across the week.
The top three’s rise to respectability will no doubt be aided by the launch of Nasdaq’s BLX (Bitcoin) and ELX (Ethereum) Liquidity Indices. The indices will update every 30 seconds, using trading volume, order book depth and other metrics to determine authoritative coin prices. Nasdaq hopes the move will lend transparency and legitimacy to the crypto asset market and could, in turn, pave the way for the fabled Bitcoin exchange-traded fund (ETF).
Elsewhere, the Woz himself spoke to Bloomberg about the long and short-term potential of Bitcoin investment, admitting that he’d divested himself of most of his holdings at the height of the boom but still “tinkers” with an innovation he feels offers “massive value creation.”
At the bizarre end of this cryptocurrency news update, previously reliable crypto news source CCN appears to have fallen under the populist spell of the Donald. Stories like Obama’s Nobel Prize Should Be Stripped, Awarded to Donald Trump Instead and Airhead Alert: Ocasio-Cortez Declares Radical Leftist War on Moderate Democrats are now peppered throughout the once apolitical site. More on this in due course, but if you don’t believe me (and why should you?), check it out for yourself. However, I would advise you go armed with a pinch (or shovel) of salt…