Bitcoin popularity grows in Zimbabwe following USD ban – July 11

📈 30 Second Price Summary

Current Bitcoin Price$11,690

Over the last 24 hours, the cryptocurrency market has fallen more than 5%. Bitcoin and Ethereum are both down around 5.5%, while XRP is down 7.5%. In the top-20, almost all coins are in the red — some closer to 10% — with just LEO Token and Crypto.Com Chain, two newcomers to the top-20, in the green.

Top Stories for 11th July 2019 🔥

👉 Bitcoin popularity grows in Zimbabwe following USD ban

Starting in 2007, Zimbabwe went through something of a hyperinflationary crisis. The local currency effectively became worthless until 2015, when the government allowed the use of foreign currency like the US dollar.

Zimbabwe has just banned the use of foreign currency, reintroducing the local Zimbabwean Dollar, prompting citizens to turn to Bitcoin. Already, a marked increase in the use of LocalBitcoins, the Bitcoin trading service, has been observed.

👉 Federal Reserve chair: Libra “cannot go forward”

Jerome Powell is the chairman of the Federal Reserve, the United States’ central banking system. He’s held the position for almost one and a half years, and recently partook in a hearing at the House Financial Services Committee.

Discussing Libra, Facebook’s new cryptocurrency project, Powell said that the coin “cannot go forward”, specifically adding “without there being broad satisfaction with the way the company has addressed money laundering.”

👉 Binance launches margin trading

A few weeks ago we discussed Binance’s plans to launch a margin trading service, allowing users to make leveraged trades on a familiar platform.

Today, Binance just launched their margin trading platform!