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Bitcoin Flat; Kraken Exchange Buys Crypto Facilities

Investing.com – Cryptocurrency prices were flat on Tuesday, with Bitcoin in the $3,400 range, while digital currency exchange Kraken said it acquired index provider Crypto Facilities.

The acquisition positions the San Francisco-based exchange to expand into futures trading. Crypto Facilities, based in London, provides trading of digital currency futures.

“Over the coming months, our teams will continue to enhance and expand these offerings,” Kraken CEO Jesse Powell said in a press release on Monday.

Kraken is among the most popular exchanges in the U.S., and processed nearly $90 billion in trading volume in 2018.

Bitcoin rose 0.4% to $3,462.70 as of 8:16 AM ET (13:16 GMT) on the Investing.com Index.

Cryptocurrencies overall were flat with the total coin market capitalization at $113 billion at the time of writing. Virtual currencies are thinly-traded over the past few days as China, South Korea and other Asian countries celebrate the Chinese new year.

Ethereum dipped 0.10% to $107.53 and XRP slipped 1.16% to $0.29779 while Litecoin was at $34.158, up 0.26%.

In other news, six Saudi Arabian commercial banks have joined the United Arab Emirates on a joint digital currency project to develop a coin to finance transactions between the two countries.

The project will be implemented over the next year, news site Argaam reported on Tuesday.

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