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The Problem with Fidelity’s Crypto Trading Platform

October 16, 2018

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Crypto market sees calm after storm: Bitcoin and Ethereum unchanged, Ripple creeping higher

October 17, 2018

  • Bitcoin and major altcoins returned to previous ranges.

  • Fidelity Investment bombshell news largely ignored.

  • Ripple is a growth leader with 4.5% gains.

Cryptocurrency markets have returned to a quiet rangebound trading after a volatile start of the week. Most of the major coins have barely changed, creating a mixed picture of red and green at the time of writing.

 

Bitcoin has returned to the range of the early days of October, trading unchanged both on a day-to-day basis and since the beginning of Wednesday. BTC/USD is changing hands at $6,439.

 

The digital coin No.1 failed to get further boost on the news that Fidelity Investments is about to launch crypto trading and custody services for hedge funds and professional investors. 

 

Meanwhile, the crypto community is very optimistic about the launch, saying that it takes the industry to a new step of evolution. 

 

“For many reasons, seasoned investors have either been shut out of crypto markets or have been slow to invest up until now. This is a signal that financial markets and regulators are gaining clarity and comfort on the outlook for trading cryptocurrencies,” Bruce Elliott, president of ICOx Innovations, commented.

 

Ethereum is changing hands at $210.26 as of press time, virtually unchanged since this time on Tuesday. Having seen a short-lived spike to $232, the second largest coin returned to the range of the previous week. Ethereum's market value has settled at $21.5B, while average daily trading volumes are registered at $1.4B.

 

Ripple's XRP is a growth leader among top-10 coins with over 4.5% gains on a day-on-day basis.XRP/USD is trading at $0.4751, off Tuesday's high at $0.4817. XRP has a market value of $18.6B and average daily trading volumes of $600M.

 

The total cryptocurrency market capitalization settled at $212B.


By Tanya Abrosimova
FXStreet

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