Bitcoin and cryptocurrencies rise
Many crypts made strong gains on Monday, as did the major stock indices, while the coronavirus continues to wreak havoc on the global economy. We can see then how cryptocurrencies rise like foam.
This week started off to be very fruitful for the price of Bitcoin (BTC), as the digital asset recovered 12.73% to $ 6,599, before retreating to $ 6,480 a few hours later.
Despite grim news that the United States reached 3,000 deaths, traditional markets also increased on Monday. The S&P 500 recovered 3.35%, while the Dow and Nasdaq gained 3.19% and 3.62% respectively. So it is not only cryptocurrencies that rise, also traditional ones.
Most of the altcoins also posted moderate gains as the Bitcoin price rebounded. So cryptocurrencies rise as united foam, from Bitcoin to the top, to the smallest.
Highlighting that it follows the trend of Bitcoin as a guide and face of the crypto market, setting the trend of when cryptocurrencies rise or fall.
In order to see how cryptocurrencies go up, we recommend our Crypto Online tool. At the time of writing the article, cryptocurrencies are behaving as follows:
Bitcoin is trading at $ 6,474, with growth of 2.43%. Ethereum (ETH) posted a 0.41% gain, while Bitcoin SV (BSV) and Binance Coin (BNB) increased 5.83% and 4.15% respectively in the last 24 hours.
Coinbase Releases Report With Bitcoin Buying Record During Collapse
Coinbase, the leading cryptocurrency exchange based in the United States, released a report containing detailed information on how its users responded to the violent crash of the cryptocurrency market suffered on March 12. Highlighting that cryptocurrencies, like Bitcoin, rise unexpectedly.
While many in major markets were panicking because President Trump’s travel ban sent shock waves into the global economy, cryptocurrency traders at Coinbase were mobilizing funds to buy the fall, the report supplied by Coinbase specified. .
The Coinbase retail platform experienced “record” 48-hour trading activity during and after the aggressive downturn, compared to its 12-month averages. So within the chaos generated by the Coronavirus and its preventive measures, cryptocurrencies rise like foam in the rubble.
Binance announced launch of exchange in Korea
Binance crypto exchange is preparing to enter the Korean market for the first time. According to a company blog post, the Malta-based exchange will soon open Binance KR for trade.
Binance KR will launch on Binance Cloud and offer the “deepest trading liquidity on the market, the most robust comparison engine and the most advanced security, custody and risk controls”
The launch of Binance KR comes just after the purchase of financial tech firm BxB, which is behind KRWb, the world’s first stable KRW-backed currency, was announced. Binance had been hinting at a possible expansion in Korea for some time, but nothing had been confirmed so far.
You can see the actions of Binance go up to impact almost everyone, with cryptocurrency projects almost on all continents.
Cryptocurrency Activities Up in Japan: OkCoin Japan
OKCoin, one of the oldest exchanges in China, continues its expansion of the crypto exchange business. It recently announced that it has obtained official licenses in Japan. We can see the competitors for Binance rise in the cryptocurrency trade.
According to its announcement, OKCoin Japan has completed its registration with the Kanto Office of Local Finance. According to the firm, this makes OKCoin the first international exchange to obtain a cryptocurrency exchange license through the official application procedure in Japan. Beating Binance this time.
Japan said that since its establishment in September 2017, it has been
preparing to be in a position to achieve a commercial framework that can
comply with Japanese law. OKCoin’s marketing manager added that:
“OKCoin wants to obtain the recognition of the Japanese authority in terms of its own technologies, products, equipment, compliance and regulatory systems and internal management system, etc., in this way, they are finally approved by the license.”