Bitcoin and other cryptos weaken on Monday

Posted 06 August, 2018

The prices for cryptocurrencies start this week with a decline, even after the owner of NY Stock Exchange announced the creation of the platform for digital asset trading.

On Monday, bitcoin changed hands on the Bitfinex at $6,932; Ethereum on this platform was priced at $404.5. Other main currencies – Ripple and Litecoin decreased to 0.42387 and 73.510 respectively.

The market capitalization dipped from $262 billion last Friday to $253 billion.

It was reported at the end of last week that Intercontinental Exchange (ICE) that run NY Stock Exchange expressed intentions to set up the global digital asset ecosystem based on cloud technologies of Microsoft. The project can be developed in cooperation with such giants as BCG, Starbucks, Microsoft. The crypto trading will be carried out by new Bakkt business.

It was rumoured that this project may enable bitcoin payments in Starbucks, though the latter denied such information. Moreover, Starbucks will take part in the platform for crypto conversion in the US dollar particularly for further payments in the Starbucks network.

In addition, the Central Bank in Thailand has reportedly greenlighted local financial institutions to buy/sell cryptos but only with strict compliance of a number of rules. Specifically, the financial institutions of the country can invest into the coins, but they cannot issue crypto credit cards and the regulator's permission is required. The commercial banks in their turn cannot issue, buy or sell tokens. However, tokens and crypto investments will be allowed if the cryptos are used for boosting the client services, though only within one regulatory sandbox.

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07 August, 2018 11:25

← US dollar trims gains after the Monday upturn

After the Monday strengthening, the US dollar has somewhat trimmed gains the next day. The US Dollar Index decreased from 95.44 to 95.17. The rate was very close to the peak of 95.96 recorded in late July but then weakened. The US-China trade conflict can support the greenback as Washington may reduce the US trade balance deficit making use of the imposed restrictions.

US dollar trims gains after the Monday upturn

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