Market Update 9.18.18 -Musk Asks Palmer to Help Combat Twitter Crypto Scammers
Market News
Musk Asks Palmer to Help Combat Twitter Crypto Scammers
Elon Musk, the Chief Executive Officer of Tesla Inc. and SpaceX, posted a request on Twitter on Monday, September 17, asking the creator of Dogecoin (DOGE), Jackson Palmer, to help him combat cryptocurrency scammers that were infesting Twitter.
Palmer replied almost instantly, asking Musk to connect with him on direct messaging. He stated that he had the script that could solve this issue and would send it to Musk. Later, Palmer tweeted that he had sent Musk the scrip and instructions on how to use it. He also tweeted that Jack Dorsey, the CEO of Twitter should look at a permanent solution on the company’s side though.
Read the details here.
Ether Loses Last Week’s Gains
Last week Ether gained 35% on its token price. However, over the weekend, the world’s second largest cryptocurrency lost more than half of its price and is currently trading at $197.80, down by 10.30% in the last 24 hours. The drop takes place after the altcoin recorded its highest per day trading volume in the last one year, thanks to increased investor interest.
However, today, thanks to a broader market slowdown, sellers overtook buyers, then leading to another plunge in Ether’s price.
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Ukrainian Parliament Proposes Crypto Tax Bill
The Ukrainian Parliament, the Verkhovna Rada, is proposing a bill, which, if passed into a law, would tax all cryptocurrency related operations. This tax bill was initiated by 23 officials of the Ukrainian government and it proposes a 5% tax imposition on individuals as well as legal entities that work with digital assets such as cryptos and tokens.
According to Trading Economics, from January 1, 2024 onwards, all profits derived from crypto related business would be levied an 18% tax, which is the basic tax rate for corporate as well as personal income tax in the country.
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Total Market Cap: Sep 18
Trading volumes are up today by $2.66 billion to $12.63 billion. However, the market’s capitalization has dropped $9.44 billion to $193.09 billion.
Bitcoin Price Analysis: Sep 18
Bitcoin’s price is currently at $6295.87, dropping by 3.12% since yesterday. Bitcoin’s value is $108.69 billion and trade volumes are now $3.94 billion.
Ethereum Price Analysis: Sep 18
Ethereum’s trading price is currently $197.96, plunging 9.83% since yesterday. The market capitalization of Ethereum is currently at $20.18 billion and trading volumes for the crypto are $2.01 billion.
State of the Top 10 Cryptocurrencies: Sep 18
The majority of the cryptocurrency market is in the red today, and all of the top ten cryptocurrencies by market capitalization are down. The biggest losers in trading so far today are Ethereum, which has fallen by 9.83%, EOS, which dropped by 9.65% and Litecoin, which has lost 8.64% of its price in the last 24 hours. Bitcoin is performing relatively better than most others, losing about 3.12% of its price in the same time period.
- Bitcoin has a price of $6295.87, dropping by 3.12. The digital asset’s value is $108.69 billion.
- Ethereum has a price of $197.96%, dropping by 9.83%. The digital asset’s value is $20.18 billion.
- Ripple has a price of $0.274011, dropping by 2.48%. The digital asset’s value is $10.90 billion.
- Bitcoin Cash has a price of $421.17, losing 6.64%. The digital asset’s value is $7.30 billion.
- EOS has a price of $4.86, dropping by 9.65%. The digital asset’s value is $4.40 billion.
- Stellar has a price of $0.196821, dropping by 3.99%. The digital asset’s value is $3.69 billion.
- Litecoin has a price of $51.88, dropping by 8.64%. The digital asset’s value is $3.02 billion.
- Tether has a price of $1, dropping by 0.05%. The digital asset’s value is $2.75 billion.
- Monero has a price of $109.98, dropping by 7.54%. The digital asset’s value is $1.94 billion.
- Cardano has a price of $0.063857, dropping by 7.40%. The digital asset’s value is $1.65 billion.