There have been several changes in the sector of virtual currency in the recent times. Several speculations are being made regarding the various investments that are taking place in the industry as well as the long awaited update on the ETF of Bitcoin. If an ETF of Bitcoin is formed, it would take this nascent sector much further. It is for this reason that any news related to an ETF can make a world of a difference to the users. However, there has remained a stability in the market in spite of the changes in the level of investment that has taken place.
An information that should have made a difference in the values of the various prominent virtual currencies is the news of the famous Yale University, an integral part of the ivy league, being a part of the sector. However, it has not led to an increase in the prices of the various virtual currencies in the market. According to the experts, the only factor that can lead towards a surge in prices is the extent to which it is being adopted by the common people. As long as virtual currency remains the field of a few people, it would be very difficult for the sector to grow not just in value, but also in the manner in which it is significant to the economic system of the various countries. Therefore, the entities in this sector should aim at mass adoption and only than will significant changes be noticed even in the values of the currencies.
Bitcoin has also shown a lot of stability over the past month. This was not expected considering the manner in which it had behaved through out the year. However,severe changes have not been seen in its value over the past month. Other popular coins are also showing very little change in the value, except for XRP. The most popular currency, that is, Bitcoin, has been maintaining its value over the year, it has had a few surges and has often reached the mark of $7000. Ethereum, which is the second most popular virtual currency is recovering from the slump that it has encountered this year. As for Ripple, it has also seen drastic increase as well as decrease in the value over the past months, at one point, it had overtaken Ethereum to claim second position in the market cap.
At this point in time, the trading volume is $11.4 billion. It had surged to $17 billion on 28th September. The most losses are seen by the coin of Binance as well as NEM. The coin that did well was TRON. There has also been some good news for the Winklevoss twins who have managed to obtain license for the insurance of the various digital assets. A deadline for the changes in the rules related to the formation of Bitcoin related Exchange Traded Fund.
This has been an eventful week for the sector of virtual currency, however, as the factor of mass adoption dominates, this has failed to leave its impact in the value of the various currencies.