Cryptocurrency Prices Rebound from Six-Week Lows
Cryptocurrencies have rallied following a dip in European financial markets. As of 12.00 (GMT+1), Bitcoin is up 3.50% to $7520, Ethereum is up 6,48% to $570, and Ripple raised 6.34% to $0.618852. Analysts note that the rebound coincided with the euro’s fall to a 10-month low, which was triggered by a sell-off of Italian government bonds. Traders are currently monitoring the political situation in Italy, where populist parties are scrambling in a last-ditch push to form a government. Investors fear that a repeat election in July will turn into a de facto referendum on the euro, potentially shaking the foundations of the entire currency union.
Austrian Regulator Freezes Activity of Mining Firm Invia
The Austrian Financial Market Authority (FMA) has “prohibited the business model of Invia GmbH”, alleging that the firm violated the country’s banking laws. The regulator claims that Invia failed to register with the FMA, and unlawfully managed an alternative investment fund, both of which constitute direct violations of the Austrian Banking Act. The company used a client-specific algorithm to mine the most profitable cryptocurrencies, converting them into Bitcoin (Bitcoin) or Ethereum (ETH/USD), and paying them out to investors. Company representatives claim that it was licensed in Austria, adding that its software is nothing short of revolutionary in the field of cryptocurrency mining.
Bitbay to Move to Malta
Bitbay, the largest cryptocurrency exchange in Poland, intends to cease operations in the country and relocate to Malta, as local banks are no longer cooperating with the platform. Users will be able to access their zloty (PLN) accounts until the end of May 31st, after which they will be suspended. All of the exchange’s other functions will be available until mid-September.
PwC Australia Introduced Blockchain-Based ‘Trade Community System’
The new system was designed to link supply chain information using blockchain technology. In its development participated PwC Australia, the Australian Chamber of Commerce and Industry, and the Port of Brisbane. ‘Trade Community System’ will revolutionise international trade by removing complexities in the system. There is a growth in trade in Australia, which increases pressure on the supply chains. About 9 million container movements are carried out annually in 5 major ports of the country. According to forecasts, by 2025 this figure will increase to 15 million. Industry representatives believe that this is the right time to initiate a program of reforms and modernization.
Bithumb Reduces The Withdrawal Limit For Crypto Traders
Bithumb, one of the South Korea's largest cryptocurrency exchanges, has announced that it “has decided to reduce the withdrawal limit for customer accounts that have not converted to real name confirmation accounts”. The first stage is scheduled for June 4th when it will be possible to withdraw not more than $ 41.8 thousand per day with unconfirmed accounts, which is 10% less than it is available now. There will be several of such stages but the withdrawal limit has not yet been announced. However, Bithumb declared that it has decided to gradually reduce the withdrawal limit to fight financial crime.
Bitcoin Cash and EOS Added to deVere Crypto
deVere Crypto, a mobile cryptocurrency exchange application, added Bitcoin Cash and EOS as a new survey revealed that 35% of HNWI (high net worth individuals) will show interest to cryptocurrencies by the end of 2018. Prior to the update, the platform was offered operations with Bitcoin, Ethereum, Litecoin (LTC/USD), Ripple, Dash (DASH/USD), Monero (XMR/USD) and Stellar Lumens. Nigel Green, CEO of deVere Group, commented that the move was a part of the company’s “ongoing commitment to clients.”
At 12.00 (GMT+1) Total cryptocurrency market capitalization stands at $331,1 billion
Ethereum (ETH/USD) $570 (+6,48%)
Ripple (XRP/USD) $0,61 (+6,34%)
EOS (EOS/USD) $12,71 (+7,47%)
Cordano (+9,79%) showed the best growth among the top-10
Theta Token (+39,31%) showed the best growth among the top-100 in the last 24h
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By Nadya Astam