BREAKING: Futures Fall As Yields, Dollar Rise
Cryptocurrency News: Cryptocurrency prices are up Tuesday afternoon on the back of Monday’s attempt to start a new market rally. With positive gains for traditional and digital markets, here are today’s crypto headlines.
Bitcoin outperformed the market indexes in September, which is historically its worst-performing month out of the year. With the September slump over, here are the top five cryptocurrencies for the fourth quarter.
The Financial Stability Oversight Council approved a report on regulatory and financial stability risks of digital assets. The FSOC’s identified risks include spot markets for crypto-assets, lack of framework to engage in arbitrage, and retailers’ direct exposure to market practices like automated liquidation. Treasury Secretary Janet Yellen led the group, which recommends a bill that would charge the Commodity Futures Trading Commission (CFTC) with overseeing the spot market and another to establish rules for stablecoin issuers.
Japan’s Prime Minister Fumio Kishida announced the government is ramping up its efforts to promote Web3 services. In a speech before Japan’s National Diet, the country’s bicameral parliament, Kishida said the blockchain, NFTs and the metaverse will be part of the government’s growth strategy. Japan plans to digitize national security cards and will promote efforts to expand Web3 services that incorporate the metaverse and NFTs. In early September, the Japanese government began issuing NFTs as rewards for local authorities.
Celebrity influencer Kim Kardashian will pay $1.26 million to settle Securities and Exchange Commission allegations that she illegally promoted a cryptocurrency without disclosing she was paid for the advertisement.
Click here to jump to more on today’s Cryptocurrency News.
Bitcoin reclaimed $20,200 by Tuesday afternoon, up more than 3.5% over the last 24 hours. While Ethereum is holding around $1,355 late Tuesday, climbing nearly 2.9% over the past day.
Ethereum’s price has slipped after merging to a proof-of-stake network that should make the system faster and vastly more energy efficient.
Scroll down for more cryptocurrency news and price updates.
Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.
Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.
View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.
Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.
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