Market Analysis Report (07 Oct 2021)

The price of Bitcoin has moved past the $55,000 mark this week following rumors that the U.S. Securities and Exchange Commission (SEC) will approve a BTC exchange-traded fund (ETF) later this month.

Cross-border payments giant MoneyGram has started working with the Stellar blockchain to create instant, blockchain-based transactions using the Centre Consortium’s USDC stablecoin.

The U.S. Federal Deposit Insurance Corp. (FDIC), a key banking regulator, is studying whether certain stablecoins might be eligible for its coverage. The discussions are preliminary, but sources suggest the agency is analyzing what pass-through FDIC Insurance may look like for the reserves stablecoin issuers hold at banks.

In your cryptocurrency trading journey, you will find there are various types of financial products out there that go well beyond just buying and selling a cryptocurrency for a profit. Among them are perpetual swaps, a type of derivative – a futures contract – that doesn’t have an expiry date.

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Top stories in the Crypto Roundup today:

• Bitcoin Surges Past $55,000 Following ETF Approval Rumors
• MoneyGram Partners With Stellar For Instant, Blockchain-Based USDC Payments
• U.S. FDIC Studying Whether Stablecoins are Eligible for Deposit Insurance
• What are Bitcoin Perpetual Swaps
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Source: https://www.cryptocompare.com/email-updates/daily/2021/oct/07/