Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $54,840.3 (+0.96%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has fallen to $1,747.21 (-3.56%), while XRP has dropped by 4.57% and is now trading at $0.449.
Goldman Sachs Group Inc. is trying to figure out how it can handle the rising client demand for Bitcoin while complying with regulatory requirements, the bank's president and chief operating officer, John Waldron, has said:
"Client demand is rising. We are regulated on what we can do. We continue to evaluate it... and engage on it."
The bank recently restarted its crypto trading desk and this month it started dealing Bitcoin futures and non-deliverable forwards. The bank is also exploring the prospects of a Bitcoin exchange-traded fund (ETF) and a digital asset storage service.
According to Waldron, Goldman Sachs expects the trend of growth in online sales to continue and forecasts an associated "explosion" in the use of cryptocurrencies:
"The pandemic has been a significant accelerant. There is no question in our mind there will be more digital commerce… and (use of) digital money."
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in red.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,669,842,795,059.
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