Market Update 5.21.18 – Coincheck Removes Anonymity-Focused Coins
Market News
Coincheck Removes Anonymity-Focused Coins
Coincheck, the Japanese cryptocurrency exchange that was the victim of the massive $532 million cryptocurrency hack in January, announced that it was ending trading in four anonymity focused tokens – Augur (REP), Dash (DASH), Monero (XMR) and Zcash (ZEC). The removal will be in effect from June 18.
According to the crypto exchange’s blog post, this removal is being undertaken so that the exchange remains compliant with the new counter-terrorist financing (CTF) as well as anti-money laundering (AML) regulations issues by Japan’s Financial Services Agency (FSA).
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Fundstrat’s Lee Still expects $25k BTC Price
Thomas Lee, the co-founder and CEO of Fundstrat Global Advisors had made predictions about the price of Bitcoin recently. He had predicted that Bitcoin’s price would rally after the Consensus 2018 conference, however, that prediction was proved wrong. In fact, cryptocurrency markets have dropped by as much as 10% since the conference.
Lee stated that this was because the cryptocurrency industry needs a trifecta of progress involving institutional tools, regulatory clarity as well as support from traditional banks if it is to break through the resistance it is currently facing.
Read the rest of the story here.
Colorado Proposal to Accept Cryptos for Political Campaigns
According to the latest news report, Colorado’s Secretary of State, Wayne Williams proposed that donations be allowed to be made in cryptocurrencies for political campaigns. This proposal was made on May 16 in a set of draft rules. According to the proposal, donations made in cryptocurrencies would be accepted as cash donations and their value would be determined as when the donations were made.
The Federal Election Commission (FEC) has already approved Bitcoin being accepted as in-kind donations for political campaigns and now allows the campaign 10 days to transfer the funds to the campaign’s official depository.
Find out more here.
Total Market Cap: May 21
Trading volume in the cryptocurrency market improved slightly to $17.23 billion. Market capitalization is currently at $389.61 billion in the industry.
Bitcoin Price Analysis: May 21
BTC’s price in the last 24 hours rose to $8503.73, a 2.73% increase. Trading volume for Bitcoin currently is $5.29 billion and its capitalization in the market is at $144.89 billion.
Ethereum Price Analysis: May 21
Ethereum’s price went up by 1.41% since yesterday to trade at $716.48. Trading volume for ETH is $2.21 billion and its market capitalization is $71.28 billion.
State of the Top 10 Cryptocurrencies: May 21
The weekend was good for the top ten cryptocurrencies, with all their prices gaining over the last two days. All the top ten cryptos saw price gains since yesterday, however, the star of the show was TRON, which saw a massive 14.77% jump in its token price. Bitcoin crossed the $8.5k mark and is now coming up against the $9k resistance once again.
- Bitcoin’s price went up by 2.73% to $8503.73 and its value in the market is now $144.89 billion.
- Ethereum’s price went up by 1.41% to $716.48 and its value in the market is now $71.28 billion.
- Ripple’s price went up by 2.05% to $0.696360 and its value in the market is now $27.26 billion.
- Bitcoin Cash’s price went up by 3.16% to $1273 and its value in the market is now $21.80 billion.
- EOS’s price went up by 3.48% to $13.95 and its value in the market is now $12.10 billion.
- Litecoin’s price went up by 1.92% to $138.27 and its value in the market is now $7.83 billion.
- Cardano’s price went up by 5.84% to $0.257871 and its value in the market is now $6.69 billion.
- Stellar’s price went up by 3.42% to $0.332081 and its value in the market is now $6.16 billion.
- TRON’s price went up by 14.77% to $0.081442 and its value in the market is now $5.36 billion.
- IOTA’s price went up by 1.68% to $1.81 and its value in the market is now $5.03 billion.