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 -0.09%. Out of the aforementioned five, XRP gave investors the best daily return; it was up 1.66%, which has its price now near $0.255509 USD. As for the worst-performing crypto out of the Big Five, yesterday that was Litecoin; it came in at down 2.56%, which drove its price to around $63.373865 USD. Out of the five coins observed here, two cryptocurrencies were up — which is a mixed sign for the crypto sector as a whole.
Buy Bitcoin online using your credit card
Yesterday was a fairly normal day for all of these cryptocurrencies, in the sense that they fluctuated within the normal daily range we have come to suspect them to move within. 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 Ripple; its 786,028 transfers added was about 14% greater than the transactions recorded on Ethereum, which was the runner up for transactions logged on its chain over the past 24 hours. 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. Ripple was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $25,724,000,000 US dollars.
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.
Bitcoin regulation is an ever-evolving topic, especially in the United States where national legislation is impacted by individual states.