Daily crypto: Prices continue down and new big crypto exchanges will launch

Daily crypto: Prices continue down and new big crypto exchanges will launch.

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Christian Ploog

christian.ploog@trijo.co

The downward trend seems to continue on the world's crypto markets. At the same time, several companies in Japan and South Africa have announced that they will launch new crypto exchanges.

Lately, there has been news about crypto exchanges around the world.

South African investment company Sygnia ltd. has announced that they will launch a crypto exchange in the third quarter of 2018. The exchange will be called Sygniacoin, and the idea is that it will comply with the principles and regulations that exist for crypto exchanges in New York State, USA.

“The cryptocurrency market is evolving at a rapid pace internationally and domestically, and is attracting both domestic and international flows”, says Magda Wierzycka, the chief executive officer of Sygnia, to Bussinestech.

A Chilean bank has reopened accounts for two crypto exchanges after a court order. The exchanges have previously had their accounts closed. The court ruling ordered three of the country’s largest banks to reopen accounts, but so far, only one has complied, Bitcoin News reports.

In Japan, six big companies have announced that they will launch crypto exchanges. The companies are for instance an entertainment conglomerate, a large music label, and a medical corporation, Bitcoin News reports.

The downward trend is persistence

Despite the recent downturns, bitcoin is still a good buy, according to blockchain venture capitalist Spencer Bogart. He believes that the price “at least” should be above $10,000 at the end of the year.

“Could bitcoin trade lower? Certainly. But do I think it will be higher a year from now? Absolutely”, said Spencer Bogart recently to CNBC.

If we look at the prices of the cryptocurrencies, the downward trend seems to hold on. Among the largest cryptocurrencies, ethereum (-8,12%) and bitcoin cash (-5,76%) lost most in the past 24 hours.

The ones that performed the best were all sports (+27,07%) and mybit token (+26,54%), while fusion (-13,48%) and centrality (-11,39%) performed the worst.

Prices the last 24 hours

Asset: Price: % (24h)
Bitcoin $7 243,90 -1,16%
Ethereum $537,26 -8,12%
Ripple $0,584530 -3,69%
Bitcoin cash $938,13 -5,76%
Eos $12,09 -2,48%

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