The Week in Crypto Another volatile week was brought on by continued global uncertainty, with privacy coins surging, Bitcoin executing classic Bart Simpson patterns, and a Biden executive order bringing crypto deep into the realm of US politics.
Traditionally, big investors act as market makers who execute trades on both sides of the order books hoping to profit from the bid-ask spread and providing liquidity to exchanges in return for lowered trading fees. In open crypto markets, anyone can become a market maker:
To start the week, the NASDAQ, DOW and global markets plunged with dismal recoveries and GOLD rose sharply then faltered. BTC experienced high volatility and privacy coins saw significant gains.
Privacy coins spiked 25% overnight prior leading up to the crypto executive order announcement. Exchange tokens were down, signaling a market reaction to a potential clamp down on cryptocurrencies. Even crypto exchange founders are recommending that users put their digital assets in cold storage (self-custody). Update: Binance just announced it has attained Cold Storage insurance.
Get Ready for DEX Trading at Quadency!
To start the week, the NASDAQ, DOW and global markets plunged with dismal recoveries and GOLD rose sharply then faltered. BTC experienced high volatility and privacy coins saw significant gains.
Privacy coins spiked 25% overnight prior leading up to the crypto executive order announcement. Exchange tokens were down, signaling a market reaction to a potential clamp down on cryptocurrencies. Even crypto exchange founders are recommending that users put their digital assets in cold storage (self-custody). Update: Binance just announced it has attained Cold Storage insurance.
Get Ready for DEX Trading at Quadency!
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Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.
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