United Kingdom riddled with crypto scams
Owing to the lack of regulation and restriction in the United Kingdom, fraudulent companies have been flocking to the country.
Since the previous day, the five most-watched cryptos ( Bitcoin Bitcoin Cash, Litecoin, Ethereum, and Ripple) provided their holders with a return of 1.59%. Out of the aforementioned five, Litecoin gave investors the best daily return; it was up 4.44%, which has its price now near $42.44 USD. In terms of the worst performer, that would be Ethereum, which reported a day-over-day return of 0.06% — a move that puts its price around $134.33 USD. Out of the five coins observed here, four cryptocurrencies were up — which is a bullish sign for the sector as a whole.
It should be noted that the price behaviour of XRP and Litecoin was especially curious, as their moves yesterday were much larger than their respective normal daily trading ranges. Traders may also wish to bear in mind the following events going on regarding current price patterns:
The blockchain that saw the most transactions recorded on its blockchain over the past day was Ethereum; its 640,668 transfers added was about 98% greater than the transactions recorded on Bitcoin, which was the runner up for transactions logged on its chain over the past 24 hours. Ethereum’s transaction fee was also less than Bitcoin’s, suggesting transaction fees might be a key reason why users are preferring Ethereum. Bitcoin was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $55,404,296 US dollars. Bitcoin’s dominance of the crypto market remains intact, with it now accounting for approximately 68.22% of the value of all circulating cryptocurrencies. Its dominance has been in a downtrend over the past two weeks, going between 67.6% to 68.92%.
Owing to the lack of regulation and restriction in the United Kingdom, fraudulent companies have been flocking to the country.
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