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Cryptocurrency Daily Roundup - Jan.7


Bitcoin regained its $4000 level Monday after falling below the mark two weeks ago. The world's largest cryptocurrency by market capitalization, BTC leaped sharply over the last 24 hours, adding more than 6 percent, reaching $4063 on Monday- its highest point in two weeks. The move signals an opportunity for the bulls to push higher this week, analysts say.

A summary of some of the widely followed stories on cryptocurrency and blockchain during the past 24 hours.

Cryptocurrency prices were highly correlated in 2018: study

A new report released by "The Block," based on recent research, says 10 of the top 15 crypto assets by market cap show a price correlation of more than 64 percent. They are Bitcoin Cash (BCH), Bitcoin Core (BTC), Ethereum (ETH), Ripple (XRP), EOS, Stellar (XLM), Litecoin (LTC), Cardano (ADA), Iota (MIOTA), and Monero (XMR). The two largest cryptocurrencies, Bitcoin and Ethereum, correlate the most with the other analyzed cryptocurrencies.

US Federal Agencies Raid Tech Hub For Unauthorized Crypto Trading

The office of technology hub The National Science Institute, previously known as The Geek Group, was reportedly raided by United States federal agencies for unauthorized cryptocurrency trading. Local news outlet Wood-TV reported that Geek Group founder Chris Boden made a live public statement on YouTube Saturday night regarding the closure of his company. He claimed that members of the U.S. Federal Bureau of Investigation or FBI and the Department of Homeland Security or DHS took away computers, hard drives, and other equipment from his office.

More crypto Exchanges Join Japan's self-regulatory crypto Association

In a statement, the association, formed in April by 16 class 1 registered crypto exchanges, said the five new Type II or second class members are Coincheck, Everyone's Bitcoin, Lastroots Inc., LVC Corporation, and Coinage Corporation. The association, which was formed following the $530 million hack of crypto exchange Coincheck, aims to create industry-wide investor safety standards.

China Banking Association launches blockchain-powered inter-bank platform

The new platform called "the China Trade Finance Inter-Bank Trading Blockchain Platform" is aimed at improving the transaction mode, transaction efficiency, and ensuring transaction security to achieve electronic, informational and convenient inter-bank transactions. The platform has successfully completed the first and second phase of the network test, forming a technical standard and business product standard for smooth operation. Ten Chinese banks were part of the tests.

French Crypto Wallet Ledger unveils Bluetooth-Enabled Nano X hardware wallet

French crypto hardware wallet maker Ledger unveiled a new Bluetooth-enabled hardware wallet called Ledger Nano X at the CES 2019 in Las Vegas to securely store cryptocurrencies. It also launched the Ledger Live Mobile app to connect with the new hardware wallet. The Nano X is the successor of Nano S wallet, which is reported to have registered sales of over 1.4 million units. The Ledger hardware wallets line is already sold in 165 countries.

Current Prices

At present, Bitcoin is trading up 5.34 percent or $203.79 at $4024.07 on Coinbase. Ethereum also is climbing 0.99 percent or $1.51 at $153.40.

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