Hi there! Here is the latest Tradesanta’s weekly digest. Breaking cryptocurrency news of the previous week are collected right here:
- Bitcoin price reached USD 11 000 and hit a more than 15-month high;
- FATF published controversial requirements, saying cryptocurrency exchanges must share users personal info;
- Facebook will face with regulatory questions about Libra cryptocurrency.
Cryptocurrency Market Stats
Total market capitalization of all cryptocurrency assets increased by 320 billion USD. Check the last week’s main results in the table below.
|Stat||Value (7d change)|
|Market Cap||$ 326 253 008 396 (+15.63%)|
|Markets||19 032 (+0.53%)|
|Cryptocurrencies||2 278 (+1.78%)|
|BTC Dominance||59.1% (+1.9%)|
Major Coins’ Price Stats
According to the Coinmarketcap data, cryptocurrencies suddenly rocketed during the last week. The price spike has been the catalyst for a significant inflow of new capital. Let’s check out the results.
|Coin||Close||7d Gains||7d High||7d Low|
|Bitcoin||$10 855.37||+20.68%||$11 246.14||$9 004.90|
Quote of the Week:
Maxine Waters, chairwoman of the U.S. House of representatives’ financial services committee: “Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action.”
In Case You Missed It:
- According to CoinMarketCap, Bitcoin price soared above $11 000, and hit a more than 15-month high. At this point, the world’s largest digital currency by market value had climbed more than 250% from the lowest price $3,122.34 reached in December.
- The Financial Action Task Force, which fightsmoney laundering and financing terrorism, published recommendations on regulating cryptocurrencies for its 37 member countries. According to Coindesk, the problem is that this document contains a controversial requirement that “virtual asset service providers”, including crypto platforms, must share information about their customers to one another while transferring funds between companies.This recommendation makes official part of FATF’s offer published several months ago, saying countries should make sure that if cryptocurrency companies transfer funds, they: “…obtain and hold required and accurate originator [sender] information and required beneficiary [recipient] information and submit the information to beneficiary institutions. Further, countries should ensure that beneficiary institutions … obtain and hold required (not necessarily accurate) originator information and required and accurate beneficiary information.”
- Facebook revealed its plans for Libra cryptocurrency. According to CNN, the Libra association for managing this cryptocurrency, and Calibra for building applications will be launched. Facebook rolled out a test version of its blockchain so developers will be able to build applications on the platform and leave their feedback on the code. Moreover, Facebook revealed that Libra coin will be launched next year. Alas, lawmakers aren’t happy about new cryptocurrency: they are concerned about storing users data in secure, also, Libra can be used by criminals and fraudsters.
That’s all for now. We hope that our digest will be helpful for you. So, stay tuned for more blogposts, and as usual, we wish you a successful trading!