Should Beijing look at its crypto ban? A former bank member believes so
A former member of the Monetary Policy Committee at the People’s Bank of China believes the ban on China should be reconsidered.
In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were down -0.92%. Leading the way was Bitcoin, whose price is now around $9157.52 USD, which yielded holders a return of -0.13% from the day prior. On the flip side, the worst performer was Bitcoin Cash coming in at -2.06%; its price is now near $282.78 USD. None of the coins had up days, which indicates a wave of bearishness befell the sector as a whole.
None of the coins had moves that could be regarded as unusually large; all the moves were within the volatility ranges we’ve come to expect for each currency. Traders may also wish to bear in mind the following events going on regarding current price patterns:
Ripple had more transactions recorded on its chain yesterday than any other coin; to be precise, it had about 118% more transactions recorded than Ethereum, which was the runner up for the day in terms of transactions recorded. Ripple has a transaction fee less than the transaction fee of Ethereum, which may indicate that transaction fees might be a key reason why users are preferring Ripple. Bitcoin was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $91,714,360 US dollars. The circulating value of all Bitcoins now comes in at approximately $164.23 billion US dollars — which means Bitcoin accounts for about 67.1% of the entire cryptocurrency market. Its dominance has been in an unclear trend over the past two weeks, ranging between 65.36% to 68.13%.
A former member of the Monetary Policy Committee at the People’s Bank of China believes the ban on China should be reconsidered.
Owing to the lack of regulation and restriction in the United Kingdom, fraudulent companies have been flocking to the country.
United States senators have requested information from Silvergate Capital regarding the firm's association with FTX.
The adoption rate of cryptocurrency in Nigeria hits new highs and the price of Bitcoin has hit a more than 60% premium.