24 September, 2018
Cryptocurrencies started the week with a decline. Bitcoin price is no longer at the peak, especially considering the recent study concerning no impact on crypto prices from Teather company.
Bitcoin on the Bitfinex changed hands at $6,614, while Ethereum on this exchange was quoted at $234.46. Prices for XRP and Litecoin decreased to some $0.52900 and $58.280 respectively.
The crypto market showed a decline – capitalization amounted to $219 billion ($228 billion yesterday).
According to the analytical study, Tether has an only short-term influence on the bitcoin rates, and the trading backs to normal levels just over a week. The report reads that the analysts did not discover any connection of Tether and a d-o-d upturn in bitcoin prices as it was considered earlier.
For reference, Tether met the eye of the US CFTC in 2017, once Bitfinex and Tether got summons with charges of bitcoin price manipulation, as the media stated.
Texas University stated in June that Tether applied price manipulation practices entailing a hike of bitcoin to its an all-time record of $20,000 which was observed in December 2017.
It was also reported today that Dubai Financial authority and Smart Dubai Office jointly put into operation blockchain payment solution which is aimed to accelerate the process in the government institutions.