Daily crypto: Bitcoin battles on and crypto exchange OKEx moves to Malta

Bitcoin battles on and crypto exchange OKEx moves to Malta.

Bitcoin battles on and OKEx moves to Malta. Image source: Shutterstock

Christian Ploog

christian.ploog@trijo.co

Many people is now wondering if the long bear market has come to an end since bitcoin's big rise Thursday.

After the bitcoin price jumped $1,000 within 30 minutes on Thursday, and set a new price record for April, the price has stabilized at these new levels. During Friday, the price rose to over $8000 once again.

This bullish market has caused all major cryptocurrencies to rise, many of them with two-digit percentages. The ones who have soared the most is ripple (+24,26%), cardano (+21,75%), ethereum (+22,43%), and bitcoin (+18,39%). If we look at the smaller cryptocurrencies, golem (+120,94%) and bitcoin private (+115,01%) are the big winners.

The crypto island Malta

One theory of why the bitcoin price soared so much yesterday is that before the rally, an Islamic scholar considered bitcoin Sharia law compliant, which may potentially open the crypto market for Muslims around the world. It can be as many as over 1.6 billion people, writes Crypto Globe.

It has also become known that the world’s next largest cryptocurrency exchange, at least if you look at the daily trading volume, OKEx also are moving to Malta, just like Binance. The small Mediterranean island thus entrenches its place as a growing hub for newly started crypto companies, writes CCN.

Is XRP (Ripple) a security or not?

For some time now, there have been discussions about the cryptocurrency XRP, that the San Fransisco-based company Ripple is behind and which is the third largest cryptocurrency, and that it might be a security.

Because many purchase XRP as an investment, it can also be considered as stock or bond, which would require it to comply with US securities regulations. If this turns out to be true, Ripple can be in big trouble, as well as the crypto exchanges that have listed the currency.

However, now Ripple is pushing back.

“We absolutely are not a security. We don’t meet the standards for what a security is based on the history of court law”, said Cory Johnson, Ripple’s chief market strategist, to CNBC.

Prices the last 24 hours

Coin: Price: % (24h)
Bitcoin $8 104,11 +18,39%
Ethereum $518,18 +22,43%
Ripple $0,634646 +24,26%
Bitcoin Cash $762,04 +14,86%
Litecoin $130,03 +13,83%

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