The cryptocurrency market is posting small losses today as a slump in confidence causes prices to slip. Bitcoin rose just 0.02 percent on the day to trade for $6,451.49. Ethereum slipped 4.74 percent to trade for $289.12. Ripple dropped by 3.87 percent to go to $0.333730. Litecoin also dropped 3.43 percent to sell for $56.08.
This will be the second week in which the Securities and Exchange Commission (SEC) has delayed their decision to ratify a bitcoin Exchange-traded fund (ETF). The continued uncertainty has caused investors to slowly drop in confidence as BTC slides further into the red each week
Cypto Trading Platform Won’t Support Margin Trading
Two weeks after the Intercontinental Exchange (ICE) introduced Bakkt, a new digital assets platform, the latter’s CEO has set out to explain what the service will offer consumers.
Bakkt chief executive Kelly Loeffler outlined the fundamentals for a platform to trade, store or spend cryptocurrencies in a post published on August 20.
The platform is currently working with what she described as “a proven framework that underpins exchanges” which will include three characteristics: it will be consistent with existing regulations, provide a transparent system for price discovery and offer “institutional quality pre-and post-trade infrastructure.”
Notably, Loeffler emphasized the critical role that the physical delivery of cryptocurrencies plays in trusted price formation, which is the foundation of advancing the promise of cryptocurrencies, according to the post.