Crypto Markets Stay Mostly Stagnant Despite This Week's Major News for Industry

Saturday, Oct. 6: crypto markets keep remain fairly stable on the day, despite this week's major news in the industry, including institutional investments and an update from the SEC on their highly-anticipated Bitcoin ETF decisions.

CNBC's CryptoTrader host Ran Neuner commented on Twitter today that all of this week's "Good news" - such as retail brokerage firm TD Ameritrade and Ivy League U.S. university Yale moving into crypto - are "Related to investment & speculation." Neuner suggested that perhaps such news was not moving the market because the market is now geared toward a narrative "Of adoption and mass real world usage."

The major cryptocurrency is trading at $6,597 at press time, seeing almost no price fluctuation over the past 24 hours, with growth of around 0.2 percent.

Ethereum, second cryptocurrency by market cap, is up slightly, around 0.39 percent over the past 24 hours to press time, trading at $224. Looking at the coin's one-year chart, the leading altcoin is just recovering now from recently hitting this year's lowest point so far at $175 on September 12.Ethereum one-year price chart.

Ripple, the third largest cryptocurrency by market cap, has seen much more dramatic price movement on the day then its fellow coins, dropping 7 percent over the past 24 hours and posting almost 15 percent losses on the week.

The major altcoin is still significantly up over the past 30 days, surging around 80 percent over the day on September 21 and bypassing Ethereum to move into second place by market cap.

Ripple is holding around 60 percent of its gains over the 30 days period now.

Binance Coin is down around 1.8 percent, trading at $10.44, while NEM is down 2.35 percent, trading at $0.103.

At press time, NEM is still 8 percent up over the week.

Later in the week, the U.S. Security and Exchange Commission set a deadline for reviewing proposed rule changes related to a series of applications to list and trade various Bitcoin exchange-traded funds - a highly discussed topic in the industry.