The number one cryptocurrency reports a slight increase of one percent during the day and is trading at $5,276. Other altcoins, on the other hand, see mixed signals capped fewer than 2% so we read more in today’s coming altcoin news.
BTC-the number one cryptocurrency is up by five percent by looking at the weekly chart. It reached a previous position at $5,342 but is now trading around $5,275.
If we take a look at some of the other major cryptocurrencies, we can see that Ethereum (ETH) is clinging to its position as the largest altcoin by market cap nearly $18.3 billion. The data from CoinMarketCap shows that Ethereum increased by half a percent over the past day. Rather than the number one cryptocurrency (BTC), over the week ethereum increased up to 6 percent.
Another one of the largest cryptocurrencies Ripple (XRP) is slightly down by half a percent over the past 24 hours. The cryptocurrency is the second largest cryptocurrency but on the contrary to the number one cryptocurrency, Ripple is trading around $0.329. The data shows that the coin is up by 1.2 percent over the week as we previously updated in our altcoin news.
Among the top twenty cryptocurrencies by market cap, the biggest gains had what other than the Binance Coin (BNB). In the previous data analysis, the coin was still among the top cryptocurrencies with the most notable price action and increase in price. It is currently ranked at the seventh position which after it increased up to three percent over the weekend. The Binance Coin increased up to 33 percent over the week which is still a lot more than the number one cryptocurrency.
Currently, the total market capitalization of all cryptocurrencies is summed up to $181 billion. This is a four percent increase from the value a week ago. As previously reported during the week, according to surveys, out of 1,000 American retirees who are older than 50 years old, nearly 56 percent of the respondents answered they were aware of the number one cryptocurrency. However, most of the retirees are not interested in investing in BTC while 2.7 percent claimed to have invested in BTC.
Bitcoin SV (BSV) Doubles In Value After The BTC Copyright Claims
“BSV doubled on Craig’s copyright news. This is only the start of him proving BSV is the only bitcoin. Now is a great time to convert all your other shite coins to Bitcoin.”However, as reported in the latest cryptocurrency news, the copyright does not entitle Craig Wright with any exclusive rights on Bitcoin. It seems as the big pockets are pouring and pumping the Bitcoin SV market to confirm the ‘’we-are-the-best’’ slogan. A massive 200 price surge is one of the reasons why traders should restrain themselves from buying the high or the lower lows. The Bitcoin SV (BSV) price corrected up to 53 percent before establishing a historic high at $195 on Huobi. The market bias is currently bullish and the majority of the technical indicators signal the strong buying sentiment. With the flawed fundamentals, a dump right now should not surprise the market.
Terrorist Groups Are Turning To Cryptocurrencies: FSB Director
“Electronic payment systems and cryptocurrencies are increasingly being used by terrorists to move money received from some states and organizations that support the global terrorist network.’’He says that the terrorist groups are getting their finances on direct proceeds from illegally selling oil or other criminal activities. The FSB chief claimed that the main source for the groups is the value transfer system referred to as ‘’hawala.’’ The system enables the parties to conduct the transfers without using financial documents. Bortnikov also told the media that the international terrorist groups are improving the systems that they use for electronic banking and encrypted communication. He stated that there are about 5,000 terrorist groups that are close to the borders in the north region of Afghanistan. Also, ISIS has used bitcoin previously in order to get the funds to conduct the suicide bombing in Sri Lanka which resulted in the death of 253 Christians according to the data intelligence firm Whitestream. Russia is now preparing to fight terrorist funding by targeting retail banking clients. For example, the Sberbank bank which is the largest bank in Russia asked its customers to provide information on all of the earnings made with crypto within five days. The bank is also interested whether some of its clients have any mining equipment in order to obtain further documentation of ownership or lease. According to the headlines in the best cryptocurrency news sites, the co-founder of the trading platform provider Tokenbox.io Vladimir Smerkis posted on Facebook a letter that was sent to the bank. According to the letter, the client transferred to the Sberbank account an amount that he received from cryptocurrencies informing the bank. However, the bank wanted further details on the crypto-related income and the crypto community was shocked that the bank should not go this far.
Bitfinex And Tether Proceed With Case Dismissal Due To Lack Of Jurisdiction
“The Office of the New York Attorney General (“OAG”) initiated this special proceeding ostensibly ‘to protect New York investors.’ [...]"However, OAG chose to target two virtual currency businesses which are not related with the New York investors - "and don't allow New Yorkers on their platforms and do not advertise or otherwise do business here," as the statement shows. As the coming altcoin news show, the counsel also argues that the Martin Act - which is a law governing securities and commodities which the NYAG is using - does not apply to Tether's stablecoin and is therefore irrelevant to the Bitfinex and Tether case. Speaking of, the case between Bitfinex and Tether was first initiated from a court filing in April signed by Letitia James, who accused the two organizations of defrauding New York investors via a massive $850 million loss cover-up. At the time, James said:
“New York state has led the way in requiring virtual currency businesses to operate according to the law. And we will continue to stand-up for investors and seek justice on their behalf when misled or cheated by any of these companies.”A new development in the case is on many best cryptocurrency news sites, revealed as the attorney for Bitfinex mentioned that Tether was invested in Bitcoin (BTC) and other assets. The New York Supreme Court Judge Joel M. Cohen responded with questions, stating:
“Tether sounded to me like sort of the calm in the storm of cryptocurrency trading. And so if Tether is backed by bitcoin, how is that consistent? If some of your assets are in a volatile currency that Tether is supposed to somehow modulate, that seems like it’s playing into what they are saying.”
Tether Issuer Claims It Had Invested Its Reserves Into Bitcoin
“Tether sounded to me like sort of the calm in the storm of cryptocurrency trading. And so if Tether is backed by bitcoin, how is that consistent? If some of your assets are in a volatile currency that Tether is supposed to somehow modulate, that seems like it’s playing into what they are saying.”As it was previously reported in the best cryptocurrency news sites, the New York Attorney General’s Office (NYAG) noted that the crypto exchange Bitfinex lost nearly $850 million. The office also stated that Bitfinex used the funds from Tether to try and cover the previously mentioned $850 million. The lawyers for Tether confirmed the rumors that its tokens didn’t really have full reserve backing but that only 74 percent was backed by fiat dollars and some other reserves. The New York Attorney General Letitia James also requested a disclosure for the documents regarding the deal that was allegedly made between the two companies. Following her request, the New York Supreme Court Judge Joel M. Cohen decided that both of the parties should resolve their dispute in a refined argument. He also noted that the NYAG cannot bring its full force of the court against Bitfinex and Tether since both of the companies denied any wrongdoing. The companies even criticized the authorities for the way they handled the case.
Join us on Facebook
- Bitcoin Copyright Registrations Don’t Recognize Wright As The BTC Creator
- Dutch Crypto Scammer Steals $2.2M In BTC Mining Fraud
- Bitcoin SV (BSV) Doubles In Value After The BTC Copyright Claims
- Terrorist Groups Are Turning To Cryptocurrencies: FSB Director
- Crypto Startup Circle Fires 10% Of Its Staff Due To Harsh Regulatory Climate
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News5 days ago
Facebook’s Cryptocurrency Network Launched In Switzerland
Regulation4 days ago
Crypto Regulation In Japan: The Measures G20 Wants To Impose
Litecoin News5 days ago
Litecoin (LTC) Price Analysis: It Needs To Be Above $87 For Bullish Outlook
Bitcoin News4 days ago
European Central Bank: Bitcoin Is Not A Threat But It Needs Monitoring
Bitcoin News4 days ago
Cryptocurrency Movie: Hollywood BTC Fan Explores Making A Real Flick
Blockchain News4 days ago
Crypto Project OneCoin Denies Being A Ponzi Scheme
Bitcoin News1 day ago
Bitcoin Whitepaper Copyright Registration Filed By Craig Wright
Altcoin News4 days ago
Bitcoin Cash Hashrate May Be ‘Dangerously’ Controlled By One Mining Pool