💵 Today's Crypto Updates: February 22nd 📈

Today's Crypto Updates:

1. Robinhood’s Zero-Fee Bitcoin, Ethereum Trading Is Live In Five US States
2. Crypto Markets Continue Experiencing Slump, BTC Dips Below $10,000
3. 20% Gains: Nano Floats In A Sea Of Crypto Red
4. Litecoin Cash Has Forked But It's Hardly Trading

Summary Of Today's News:

Robinhood launches zero fee crypto trading. Markets dip after a strong week of resurgence. NANO is up nearly 30% despite the rest of the markets. Litecoin Cash suffers low trading volume.

1. Robinhood’s Zero-Fee Bitcoin, Ethereum Trading Is Live In Five US States

Source: https://cointelegraph.com/news/robinhoods-zero-fee-bitcoin-ethereum-trading-is-live-in-five-us-states

Key Highlights:

• "The Robinhood mobile trading app launched zero-fee Bitcoin (BTC) and Ethereum (ETH) trading for the first batch of the users of its Robinhood Crypto platform on Thursday, Feb. 22"

• "According to the latest blog post, the current number of Robinhood Crypto users has reached four million with over $100 bln in transaction volume on its brokerage platform and over $1 bln in saved commissions in equity trades."

Crypto Phil's Take:

Robinhood is a fairly well known platform for trading stocks already, thanks to it's free trades. Now it's planning on disrupting the crypto space by launching zero fee trading for Bitcoin and Ethereum. Zero fee trading is great. But the biggest takeway about this for me is all the potential new money that this could bring in to crypto.

2. Crypto Markets Continue Experiencing Slump, BTC Dips Below $10,000

Source: https://cointelegraph.com/news/crypto-markets-continue-experiencing-slump-btc-dips-below-10000

Key Highlights:

• "Crypto markets have continued their slump, with Bitcoin (BTC) briefly dipping below $10,000 today, Feb. 22, and altcoin Ethereum (ETH) edging closer to $800, according to data from CoinMarketCap."

• "Total market cap is down as well, around $430 bln by press time, down from last week when it broke $500 bln."

Crypto Phil's Take:

I mentioned this a few days ago, that I thought the recent uptrend we saw could have been a potential bull trap. That being said, it's still to early to tell whether we're headed back down for $6000 Bitcoin again or whether this is just a natural correction after a very strong week for the markets.

3. 20% Gains: Nano Floats In A Sea Of Crypto Red

Source: https://www.ccn.com/20-gains-nano-floats-sea-crypto-red/

Key Highlights:

• "Nano is the only coin in the top 30 by market cap to have gained significantly on a day when most cryptocurrencies have fallen by high single-digits."

• "At the time of writing, Nano (XRB) is up almost 20 percent to the US dollar and almost 25 percent against Bitcoin."

Crypto Phil's Take:

It's about damn time this coin had some good news! The technology behind this coin remains extremely strong but wave after wave of bad news and FUD have really hurt the price in recent weeks. It's good to finally see it moving in the right direction again.

4. Litecoin Cash Has Forked But It's Hardly Trading

Source: https://www.coindesk.com/litecoin-cash-forked-hardly-trading/

Key Highlights:

• "The lackluster pricing follows what had been a notable start as far as the price action is concerned."

Crypto Phil's Take:

Surprise, surprise! A completely useless hard fork meant to cash in on the Bitcoin Cash naming scheme is not being welcomed eagerly in the market. Who would have thought!

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