Market Update 9.19.18 – Palestinians Using BTC for Cross-Border Transactions
Palestinians Using BTC for Cross-Border Transactions
Bitcoin has now become a lifeline for many in the occupied Palestinian territories in the Gaza Strip as well as the West Bank. According Ahmed Ismail, who works as a financial analyst in Gaza, at least 20 unofficial cryptocurrency exchanges that are helping users trade in Bitcoin (BTC). Ismail also stated that he has personally helped 30 clients in trading in Bitcoin to invest abroad since they don’t have any local alternatives.
Because of the ongoing conflict with Israel, Palestinians do not have a national currency of their own, and neither do they have access to the global economy.
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Crypto Exchanges Vulnerable to Manipulation
According to a new report published by the Attorney General’s Office in New York, cryptocurrency exchanges are vulnerable to manipulation, conflicts of interest as well as other issues that can pose as risks to consumers.
The Attorney General, Eric T Schneiderman had sent letters to 13 different cryptocurrency exchanges in April this year, requesting them for information about their internal controls, operations and other aspects of their business. It is on that data that this report is based.
Read the details here.
Majority of BTC Stored in Wallets
According to a new report released by the crypto industry and analysis publication, Diar, most of the Bitcoins (BTC) in circulation are being held in investment wallets today. According to this analysis, about 55% of BTC are being kept in wallets with an average value of more than $1.3 million, and each wallet containing balances of more than 200 BTC.
This report also showed that most of this BTC has never been used in outward transactions since December of 2017 when crypto prices were at their peak. Reasons for this range from lost private keys, a reducing supply or simply a strong belief by the investors that the value of BTC will grow.
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Total Market Cap: Sep 19
Trading volumes have gone up by $0.18 billion to $12.81 billion. The market’s capitalization has risen by $6.2 billion to $199.29 billion.
Bitcoin Price Analysis: Sep 19
Bitcoin’s price is now $6354.71, gaining 0.93% since yesterday. Bitcoin’s market value is $109.83 billion and its trading volumes are $4.26 billion.
Ethereum Price Analysis: Sep 19
Ethereum’s trading price is $211.49, soaring 6.83% since yesterday. The market cap of Ethereum is $21.62 billion and volumes for the crypto are $1.80 billion.
State of the Top 10 Cryptocurrencies: Sep 19
Once again, besides stablecoin Tether, all the cryptocurrencies in the top ten list were in the green with Ripple leading far ahead. The price of XRP surged overnight by 18.51% on reports that its parent company was launching its new platform xRapid next month. Other cryptos to also surge are Cardano, which has gone up by 9.25%, Ether, which jumped by 6.83% and Stellar, which has gained 6.66% in trading so far today.
- Bitcoin currently has a price of $6354.71, rising 0.93%. The virtual currency’s market value is $109.83 billion.
- Ethereum currently has a price of $211.49%, rising 6.83%. The virtual currency’s market value is $21.62 billion.
- Ripple currently has a price of $0.323244, rising 18.51%. The virtual currency’s market value is $12.86 billion.
- Bitcoin Cash currently has a price of $435.19, 3.66%. The virtual currency’s market value is $7.55 billion.
- EOS currently has a price of $5.12, rising 5.06%. The virtual currency’s market value is $4.63 billion.
- Stellar currently has a price of $0.208466, rising 6.66%. The virtual currency’s market value is $3.91 billion.
- Litecoin currently has a price of $54.33, rising 4.25%. The virtual currency’s market value is $3.17 billion.
- Tether currently has a price of $1, falling 0.16%. The virtual currency’s market value is $2.76 billion.
- Monero currently has a price of $112.05, rising 3.97%. The virtual currency’s market value is $1.83 billion.
- Cardano currently has a price of $0.069002, rising 9.25%. The virtual currency’s market value is $1.78 billion.