Daily crypto: Bitcoin continues to soar and Binance to launch operations in South Korea

Daily crypto: Bitcoin continues to soar and Binance to launch operations in South Korea.

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Christian Ploog

christian.ploog@trijo.co

The world's largest cryptocurrency exchange Binance are planning to launch in South Korea. At the same time, the bitcoin price has soared over $8,000 for the first time since May.

A recent study by the Bank of Canada shows that, in 2017, Canadian citizen mainly used bitcoin as an investment, rather than using the cryptocurrency for sending and receiving transactions.

Around 58 percent of those who participated in the study claimed that the purpose of buying bitcoin was as an investment. Twelve percent bought because their friends owned bitcoin, seven percent because they like new technology and only six percent to use the cryptocurrency as a means of purchasing online goods and services, Cointelegraph writes.

The world’s largest cryptocurrency exchange Binance is about to launch operations in South Korea. In a speech during a blockchain conference in Seoul recently, Binance CEO Changpeng Zhao emphasized the importance of the South Korean market, Business Korea reports.

Bitcoin over $8,000 again

The big news of today, however, is that bitcoin (+4,27%) have broken above $8,000 for the first time since May. What the cause of the rally might be you can read about here.

If we look at the biggest cryptocurrencies, there are mixed numbers. While bitcoin cash (+4,95%) and ethereum (+1,63%) also show green numbers, eos (-0,07%) has decreased in value slightly over the past 24 hours.

The ones who performed the best were bitcoin private (+25,48%) and zcash (+10,79%), and the ones who performed the worst were bitcoin diamond (-55,45%) and augur (-11,00%).

Asset: Price: % (24h)
Bitcoin $8 021,89 +4,27%
Ethereum $471,39 +1,63%
Xrp $0,455498 +0,35%
Bitcoin cash $855,80 +4,95%
Eos $8,13 -0,07%

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