COINFEED HEADLINES OF THE DAY
Bitcoin stuck at $6500.
Movers and Shakers
Winners: Ravencoin, Odyssey, and PIVX all see double digit gains at 28%, 20%, and 17% respectively with some solid volume behind all three.
Losers: And of course what goes up must come down with 0x taking a nose dive down by 10%. Sure has been a wild ride.
The Tether and TrueUSD gap shrinks to four cents.
HEADLINES OF THE DAY
Which brings us to the Headlines of the day.
First seen on Coinfeed from Whale Alerts, nearly 4% of USDT or $80 million dollars sees its way to Binance. More recently, Whale Alerts reports that $50 million dollars transferred from Bitfinex to the Tether Treasury.
Huobi Stable Coin Trades
Huobi has seen a jump in stable coin trading volume. The exchange allows trading among stables coins such as USD Tether, True USD, and the Gemini Dollar.
Trump Tariffs Hurt US Crypto Mining
Last June, the Trump Administration reclassified Bitmain’s Antminer S9 from a tariff-free data processing machine to an electrical machinery apparatus. The change makes it subject to a 2.6% tax. This is already on top of the 25% tax charged on all Chinese products across the board. Be happy you didn’t buy into the Bitmain IPO.
EU ICO Investment
On the other side of the pond, ICO investment in the EU has surpassed $4b billion dollars. This is compared to a $2.6 billion dollars collected in the US. Don’t let that surprise you too much however. Our analysts at Coinfeed tell me that by normalizing those numbers, EU residents have spent $8.07 per person whereas Americans have spent $7.87. So pretty comparable.
Fidelity Gets a Client
Galaxy Digital, the public crypto merchant bank operated by billionaire investor Mike Novogratz, makes the news by becoming Fidelity’s first custody client. Good signs for the crypto landscape.
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We'll use this show to discuss cryptocurrencies (or as we prefer to call them: cryptoassets) such as Bitcoin. We'll also cover some alt coins from time to time. We likely won't mention any assets that have low liquidity since those assets are more prone to manipulation. Coins in our system include: Ethereum ETH, NEO, GAS, Litecoin LTC, Ripple XRP, Dogecoin, Pied Piper Coin PPI, Tether USDT, Stellar XLM, Nem XEM, Binance BNB, Kucoin KCS, ZCash ZEC, Monero XMR, Cardano ADA, Nano
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