Market Update 4.09.18 – Lobby against Crypto Ad Ban Grows
Market News
Lobby against Crypto Ad Ban Grows
Blockchain and cryptocurrency organizations from another three countries – the Kazakhstan Blockchain and Cryptocurrency Association from Kazakhstan, the Armenian Blockchain Association from Armenia and InnMind, a Fintech company from Switzerland – have joined the lobby to file a lawsuit against the tech giants Facebook, Google and Twitter for banning crypto-related ads.
The first three organizations to band together in this effort were the Russian Association of Cryptocurrency and Blockchain, the Chinese Crypto association LCBT and the Korea Business Associations. The suit will be filed in May this year in New York.
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Petition Launched to Stop Ban on Cryptos in RBI
A petition was launched in India through Change.org called “Making India the Forefront of Blockchain Applications Revolution”. This was done in an effort to reverse the Indian central bank, Reserve Bank of India’s (RBI) ruling that it would end all associations with accounts related to cryptocurrencies.
Started on April 5, the petition has already garnered 17,000 signatures. The petition asks the RBI to reverse its decision regarding the crypto-industry. The petition said that the cryptocurrency industry has generated tens of thousands of jobs for the youth in the country.
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Two More Exchanges Ordered Shut Due to Failure of KYC Protocols
The Japanese financial regulator, the Financial Services Agency has ordered two more crypto exchanges to be shut shop for the next two months as they have inadequate KYC (Know Your Customers) protocols. The shut-down order for these two exchanges – Eternal Link and FSHO – will last till June 5 and June 7 respectively.
According to the FSA, neither of the companies had required their customers to submit information about themselves such as purposes of trade. Additionally, the two exchanges did not have procedures in place to report suspicious activities to the FSA.
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Total Market Cap: Apr 09
Trading volume was slightly better in the last 24 hours at $11.28 billion and the cryptocurrency market’s value also showed further improvement to $261.14 billion.
Bitcoin Price Analysis: Apr 09
Bitcoin’s price was down by 1.72% to trade at $6854.35. The digital currency’s market value is $116.08 billion and trading volume is $4.45 billion.
Ethereum Price Analysis: Apr 09
Ethereum’s price went up by 4.50% for the second day, trading now at $406.38. ETH trading volume is now at $1.33 billion and its market cap is up to $40.05 billion.
State of the Top 10 Cryptocurrencies: Apr 09
The top ten cryptocurrencies by market value were a mixed bad in the last 24 hours. Bitcoin rose through the day but suddenly dropped in afternoon trading. Of the top ten the most outstanding performer has been NEO that registered a 9.06% gain in the last 24 hours. Compared to NEO all other cryptocurrencies’ prices moved only slightly – both up as well as down.
- Bitcoin fell by 1.72% to a price of $6854.35. The market capitalization for BTC is $116.08 billion.
- Ethereum rose by 4.50% to a price of $406.38. The market capitalization for ETH is $40.05 billion.
- Ripple rose by 0.07% to a price of $0.490307. The market capitalization for XPR is $19.16 billion.
- Bitcoin Cash fell by 0.63% to a price of $644.49. The market capitalization for BCH is $10.99 billion.
- Litecoin fell by 1.24% to a price of $115.38. The market capitalization for LTC is $6.46 billion.
- EOS fell by 0.50% to a price of $5.87. The market capitalization for EOS is $4.59 billion.
- Cardano rose by 1.16% to a price of $0.152312. The market capitalization for ADA is $3.94 billion.
- Stellar fell by 1.29% to a price of $0.199315. The market capitalization for XLM $3.69 billion.
- NEO rose by 9.06% to a price of $51.11. The market capitalization for NEO is $3.32 billion.
- IOTA rose by 0.85% to a price of $0.998681. The market capitalization for MIOTA $2.77 billion.