Are you aware of what’s going on in the cryptocurrency market space recently? If not, have a look with some short glance.
According to Binance CZ- Crypto market is undervalued
Changpeng Zhao the CEO at Binance cryptocurrency exchange notes: a crypto market is undervalued. During the Blockchain Week event of Binance held in Singapore earlier this week, CZ mentions that Bitcoin has been oversold.
Talking about the event which was around four days, the initial two days was initiated for Binance SAFU Hackathlon i.e. Jan 19 and 20, the next two days was given for the Binance Conference i.e. Jan 21 and 22.
Recently, the Bitcoin price declined below $3600 which in turn affected a few major cryptocurrencies like Ethereum, Bitcoin Cash, Ripple XRP, EOS, etc. CZ rememorizes the value and price of Bitcoin along with cryptocurrency market which was in late 2017. That time it hits a peak of around $20000. He states that:
I believe… at the end of 2017, there was definitely an overshoot on the price side… There was a lot of guys rushing in, very simple projects with very simple whitepapers. Indeed the meteoric rise in crypto prices enticed massive rush in 2017 and ‘once that massive rush-in finishes the price declines.
South Korean Komid Exchange CEO Fakes Trading Volume, Receives 3-Year Jail
The two executives working for Komid crypto exchange at South Korea has sentenced to jail for almost years with charges to fake trading volume and cheating investors. Hyunsuk Choi, the CEO at Komid also receives a 3-year sentence specifically for his role in this particular crime and for fraud. The second member within this team is Park Mo who receives 2-years punishment.
Choi is said to make a majority of fake accounts within their exchange in January 2018. Moreover, they have been using a trading bot, to present millions of false transactions regarding cryptocurrency.
Ahn Seong-Joon, the top judge at a court in South Korea also states that Choi transferred bitcoin right from their exchange into an external wallet. However, this crime brought in the worth of $45 million in fees, the judge states:
Choi has committed fraud for a countless number of victims for a long period of time … Furthermore, he holds the financial authorities responsible for failing to keep track of the industry better.
Covesting Crypto Exchange Recently Announces Its Fiat Gateway
Covesting is one amongst a European- licensed digital currency exchange along with a professional trading platform. They intend to provide safe and technologically advancing infrastructure specifically for investors traders globally.
This platform announces its first phase of their cryptocurrency converter and fiat gateway. Now, EUR deposits through wire transfer are available. The alternatives for fiat deposits as well as withdrawals for purchasing/selling cryptocurrencies will be available in next release over the coming weeks.
FXCM Italy Rolling Out Their Crypto CFD Offering
FXCM Group has an Italian branch office dub as FXCM Italy. This is a leading international provider specifically for CFD trading; online foreign exchange trading, crypto CFDs and relevant services. The platform introduced that they are ready to start offering two crypto CFDs.
They are mainly, Bitcoin (BTC/USD) as well as Ethereum (ETH/USD). The FXCM Company has been working with partners like Liquidity Providers; minimizing crypto CFD spreads which is some of the most competitive around the market.
Apart from adding the new crypto CFDs, the team recently also adds Commodity CFDs, CORNF, WHEATF, and SOYF which are Corn, Wheat, and Soybean Futures1 resp. as their underlying references along with the Index CFD US2000 which will act as cash CFD.
CopPay Crypto Payment Service Provider Reveals It Exchange Service
CopPay is a multi-digital Payment Company which recently announced the launch of their exchange service. Moreover, the platform will enable clients to convert crypto-crypto in a relatively fast and safe way.
Currently, CoPay integrates these cryptos: Bitcoin, Ethereum, Litecoin, and Dash. Also, the team is preparing to add more coins in the coming future. CopPay does have some set of limits regarding a single transaction, still, it doesn’t asks users to share or register personal information.
This platform also adds functionality to buy digital coins with Euro and clients can then make the payout in bitcoin along with other coins to their partners and suppliers.
At the moment, CopPay supports eight cryptocurrencies: Bitcoin, Ethereum, Ripple, Litecoin, NEM, Dash, Steem, and Steem-Dollar. Talking about modes within exchange:
- Regular mode: the merchant receives cryptocurrency
- Exchange mode: the merchant exchange cryptocurrencies and receives fiat money into a bank account
The exchange feature is currently available in every country within the EU, where Euro is the base currency.