Market updates on June 25
Welcome to Tuesday!
Bitcoin goes down
On Monday the prices of Bitcoin as well as other crucial crypto assets headed south with no certain directional drivers in place. However, reports that Yahoo Japan is relishing a thought of launching its own crypto exchange drew some attention.
On the Bitfinex exchange Bitcoin was caught at $8,480.6, heading south about 1% for the last 24 hours.
The world’s number two cryptocurrency, by market share, Ethereum, edged down 0.1% on the Bitfinex exchange, ending up with an outcome of $522.18.
In addition to this Ripple’s XRP token inched down 0.4% on the Poloniex exchange, displaying a result of $0.63103.
Beside this, Litecoin inched down 1.6% coming up with the result of $157.42.
Yahoo Japan is on the verge of entering the crypto exchange market, as follows from reports from Nikkei Asian Review. In April, the Japan-based internet company is about to acquire approximately 40% of BitARG Exchange Tokyo and create a full-fledged exchange expected to be launched next year.
The acquisition would be worth up to $19 million, as Nikkei informed, stressing that BitARG already boasts a license from Japan’s Financial Service Agency to run a crypto trading platform.
Following the reports to debunk such claims BitARG pointed out on the website that the company is currently looking into investment as well as partnership possibilities only, but as for concrete decisions at the moment, they haven’t been made yet.
The previous week the FSA has just rolled out a formal warning to the Hong Kong-based Binance for illegally operating in Japan.
Furthermore, remarks by Brett Redfearn from the US Securities and Exchange Commission drew some attention. It’s because he labeled the current state of crypto markets as the Wild West. He added that crypto exchanged could be improved by simply implementing similar principles of stock markets.
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