Cryptocurrencies were mixed Tuesday, with Bitcoin opening in the red and later recovering, amid a lack of positive news to pull the market out of the grip of fear, uncertainty and doubt, or FUD.
Speculation that activity by traders or investors with large crypto holdings, dubbed “whales”, are going to increase in the coming weeks damped market sentiment.
Overall cryptocurrency market capitalization was $199.73 billion and the Bitcoin dominance rate was 55.1 percent as of 10.34 am ET on CoinMarketCap.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Over 55% of Circulating Bitcoins Sitting In Investment Wallets: Diar
A report from digital asset market researcher Diar said the majority of circulating Bitcoins, 55 percent, are sitting in wallets that are valued more than $1.3 million at current prices. Further, more than a third of these Bitcoins have never made an outgoing transaction, the report said. This could be due to lost private keys, lowering real supply or simply holding for value appreciation or HODL.
French Soccer Club Inks Multi-year Blockchain Deal With Socios.com
French soccer club Paris Saint-Germain (PSG) entered into a multi-year strategic partnership with blockchain platform Socios.com, to be the “Official Branded Cryptocurrency Partner” of the club. PSG claims to be the first football club in the world to announce a long-term cryptocurrency strategy. It will also be the first team to join the Socios.com platform.
Former SpaceX Engineer-founded LXDX To Launch Crypto Exchange
LXDX, founded by former SpaceX engineer Joshua Greenwald, plans to launch ultra high-performance cryptocurrency exchange that would provide algorithmic trading to all investors. The company, which currently provides high-performance exchange technology and services, said its exchange would feature the advanced institutional tools of high finance to all crypto investors.
American National Standards Institute To Discuss Blockchain, AI
The American National Standards Institute or ANSI will discuss Blockchain and Artificial Intelligence at the upcoming forums in the World Standards Week 2018. The discussions will be conducted in its Legal Issues and Joint Member Forums during World Standards Week or WSW 2018, to be held October 15-19 in Washington, DC.
China Central Bank Warns Investors On Risks of Cryptocurrency, ICOs
The Shanghai branch of the People’s Bank of China issued a public notice that warns investors regarding the risks involved in cryptocurrency trading and initial coin offerings, or ICOs. The warning, which the bank said was a reminder, comes almost a year after the government banned ICOs.
As of 10.35 am ET, Bitcoin was up by 0.03 percent at $6,362.00, while Ethereum was lower by 1.26 percent at $211.67 on Coinbase.
by Jyotsna V