Crypto Week in Review: NEM’s XEM Leads Top 20, Fidelity, Goldman Sachs Dive in Crypto Market

It’s Invest Diva’s Kiana Danial with News BTC and here’s a summary of what’s been going on in the cryptocurrency market in the past few days. The top 20 cryptos generally kept quiet over the weekend, with NEM’s token, XEM, leading the way with its 5% gain on Sunday. Ranked number 17 on the list, NEM’s market capitalization now stands just a bit under 1 billion dollars. Elsewhere in the markets, leading financial institutions, Fidelity and Goldman Sachs, made headlines last week with new involvements in the cryptocurrency industry. More specifically, in what could be seen as the biggest news in the cryptocurrency market, Fidelity Investments launched a new crypto service for its institutional Wall Street customers last Monday. The new digital currency service includes custody and trade execution, and will be called “Fidelity Digital Asset Services LLC.” Goldman Sachs, on the other hand, joined a venture founded by one of its former partners, billionaire Mike Novogratz, to invest in a cryptocurrency custody startup called BitGo. The endorsement from the two firms with robust Wall Street roots may get more institutions, and wealthy investors dive in the crypto investing market, especially as the U.S. stock market slows down and is on the verge of a meltdown. While we’re expecting more volatility in the market before the next big surge, now may be a good time to get your hands on cheap crypto assets for long-term investment strategies. Thanks for watching, invest responsibly and subscribe for more updates.


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