📈 30 Second Price Summary
Current Bitcoin Price: $5212
The cryptocurrency market has been pretty quiet since our last newsletter on Thursday. On the 24 hour charts, the market is showing some resistance with the market retracing — on average — just less than one percent.
Bitcoin itself has practically stood still today, while Ethereum and XRP are both down close to one and a half percent. Looking further down the charts, Bitcoin Cash is down two and a half percent while EOS is up two percent.
Top Stories for 9th April 2019 🔥
Last week we saw the price of Bitcoin shoot up by around 20%, with most other major digital assets following. At the same time, we saw Bitcoin trading volume hit a new all-time-high… but what are the exchanges seeing?
Binance CEO Changpeng Zhao has said that the number of orders being placed on the exchange is at an all-time-high. He claims that Bitcoin didn’t really claim a new all-time-high for trading volume last week (once fake volume is accounted for), but the number of orders definitely has spiked. He adds that registrations have also been ramping up to new highs.
Vitalik Buterin is the creator of Ethereum, one of the world’s leading blockchains. As a currency and decentralized computing platform, it’s essential that Ethereum offer fast transactions for low fees. The area of research concerned with improving transaction speed while reducing size and fees is known as scaling.
At a recent meetup in Taipei, Vitalik himself discussed a variety of scaling solutions for the Ethereum network. Notably, with the Layer 2 “rollup” scaling solution, the Ethereum network may be able to handle more than 270,000 transactions per second.
China has had an odd stance towards cryptocurrencies, for quite some time. Despite China being one of the world’s powerhouses for cryptocurrency mining, it seems that the government officials aren’t too happy about that either…
That’s right: according to Reuters, Chinese regulators are looking to outlaw Bitcoin mining. Although their exact reasons are unclear, it’s likely that mining is seen as a wasteful and environmentally harmful activity by the regulators.