Bitcoin, Ethereum, EOS, and XRP and other virtual currencies dropped on Friday after some disappointing news from Japan and India; Japan’s biggest cryptocurrency exchange bitFlyer is suspending new accounts registration; Indian banks are about to terminate the accounts of the crypto companies; The Netherlands’s Schiphol Airport has installed a cryptocurrency ATM; and more – here is what is happening in the cryptocurrency market on Friday.
In the News
Over the past 24 hours, the cryptocurrency market has booked a loss of more than $17 billion. All major currencies – Bitcoin, Ethereum, Ripple, Bitcoin Cash, and EOS – delivered a disappointing performance in the past 24 hours. EOS was the worst performer, tumbling more than 10% overnight.
Bullish bitcoin investor Brian Kelly believes that the market for initial coin offerings (ICOs) is overvalued. Speaking in CNBC’s Fast Money on Thursday, Kelly said that investors are in a “wait-and-see mode” and people are putting “the brakes on the ICOs right now.” The cryptocurrency investor said, “To me, [ICOs are] not as hot as they used to be.”
Japan’s biggest cryptocurrency exchange bitFlyer has decided to suspend new accounts registration effective immediately to update its anti-money laundering and know your customer system. The cryptocurrency exchange is improving its client management system on a direction from the Financial Services Agency.
In bitcoin news, BTC fell more than 5% on Friday. The virtual currency may come under pressure after the Japanese financial regulator directed cryptocurrency exchanges including bitFlyer to improve their client management systems.
In India, it was a very disappointing day for the cryptocurrency market. The country’s largest cryptocurrency exchange Zebpay announced that banks are terminating the accounts of the crypto companies and stopping all dealing with virtual currencies, following new rules issued by the Reserve Bank of India.
Amsterdam’s Schiphol Airport has installed a cryptocurrency ATM that allows visitors to convert euros into bitcoin or Ether. This is the first cryptocurrency ATM installed in a European airport, according to a blog posted on the airport’s website. The airport administration says that the ATM will be tested for six months.
In Ukrain, police arrested a gang of four computer programmers on accusations of running six fake cryptocurrency exchanges. Aged between 20 and 26, the four men were arrested in the city of Dnipro where they were running exchange sites. According to police, the suspects built their own custom-made online programs to run and manage the content of exchange websites.
Cryptocurrency Prices Today
Bitcoin (BTC) fell 5.72% over the past 24 hours, trading at $6,333.52 in the morning.
Ethereum (ETH) is trading at $478.38, down 10.26% over a 24 hour period.
EOS decline 12.34% over the past 24 hours, now trading at $9.16.
Ripple (XRP) is trading at $0.5055, down 5.38% over a 24 hour period.
Litecoin (LTC) is trading at $88.42, down 8.58% over a 24-hour period.
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