Daily Market Update- May 19, 2020

$BTC 24 Hour High $9,906.03 $BTC 24 Hour Low $9,570.36 $BTC -2.1%


Crypto markets were mostly flat today. Traditional markets however, were up today.The big winner today is the Dow, which surged more than 900 points following news that a vaccine for the coronavirus could be closer than initially thought. The S&P 500 also surged by 3% today and is likewise up 3% over the past year, while the NASDAQ is up 6%. (Source)


Bakkt has grown it's institutional client base for crypto custody to over 70 and has partnered with major financial institutions as it plans for the launch of it's consumer app.

According to a Monday blog post by the firm's president, Adam White, Bakkt has also partnered with insurance broker Marsh to offer clients more than $500 million worth of coverage. Customers of Bakkt would have to work bilaterally with Marsh to purchase the insurance. The firm also completed its SOC 1 Type I examination and SOC 2 Type II examination, following the lead of other crypto market participants such as Gemini, Coinbase, and BitGo. The audits evaluate a company's internal controls and procedures. (Source)


One week after the Bitcoin rewards halving, investors are speaking more positively about the coin than they have at any point over the last 2.5 years according to crypto data company The TIE. CEO Joshua Frank spoke to Cointelegraph on May 18, saying the 30-day average daily sentiment score — the number of positive reviews in relation to the number of negative reviews — of Bitcoin (BTC) is the highest the company has ever recorded. (Source)


Tether, the oldest and largest stable coin tied to the U.S dollar, has fallen below par value for the longest stretch since Bitcoin hit 12-month lows in March. Tether maintained or exceeded par value consistently during bitcoin’s subsequent two-month rally. (Source)




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