Market Update:
At the time of writing, the Bitcoin price is sitting at $8,491 representing a loss of 3.3% in the last 24 hours. More than $990M worth of BTC were exchanged in the BTC/USD market representing a 24% share of daily volume. The BTC/JPY pair that represents a 50% share.
The Ethereum price has dropped 4.13 % over the past 24 hours and is currently sitting at $830, with over $290M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 26.6% market share of the daily trading volume.
See live charts https://www.cryptocompare.com/coins/btc/overview/USD and https://www.cryptocompare.com/coins/eth/overview/USD
MyEtherWallet Co-Founder Splits to Launch MyCrypto.com:
MyEtherWallet co-founder Taylor Monahan, unexpectedly announced last Friday the launch of her own cryptocurrency wallet platform, MyCrypto.com, following the split from MyEtherWallet. Taylor announced both news items in a long Medium post. The post reads:
“I was terrified—am terrified—at the potential harm this change will have on myself, the team, and/or the Ethereum community but ultimately, the risks created by continuing down the road we were on are greater than the risks of splitting to a new brand, new company, new name, and new domain. While contemplating this decision, I began to see that my inaction would be the only thing that guaranteed my failure.”
IMF Chief Lagarde: Global Cryptocurrency Regulation Is Inevitable
Christine Lagarde, head of the International Monetary Fund, stated that international regulatory action on cryptocurrencies is "inevitable." Lagarde, also said that the IMF's concerns over cryptocurrencies stem largely from their potential use in illicit financial activities. In an interview with CNNMoney on Feb. 11, she said:
"We are actively engaging in anti-money laundering and countering the financing of terrorism. And that reinforces our determination to work on those two directions."
Three EU Watchdogs Warn Over 'High Risks' of Cryptos:
Three European regulators with oversight over securities, banking and pensions issued a combined warning today to EU residents considering investing in cryptocurrencies.
Citing the crypto markets' volatility, lack of regulation and the potential for severe losses, the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) wrote a brief note warning investors of the "high risks of buying and/or holding so-called virtual currencies." The warning reads:
"VCs [virtual currencies] and exchanges where consumers can trade are not regulated under EU law, which means that consumers buying VCs do not benefit from any protection associated with regulated financial services. For example, if a VC exchange goes out of business or consumers have their money stolen because their VC account is subject to a cyber-attack; there is no EU law that would cover their losses."
State of the Crypto:
Bitcoin is down 3.29% at $8,491.800 with a volume of Ƀ111.7k - $980.9M on the USD pairs.
Ether is down 1.13% against Bitcoin at Ƀ0.09789 per Ether and down 4.13% against the dollar to $830.55 with average volume Ƀ45.7k on the ETH/BTC pair.
Bitcoin Cash is down 2.6% to Ƀ0.1423 with volumes of Ƀ20.7k and down 5.34% against the dollar at $1209.9.
Ripple is down 2.97% to Ƀ0.0001176 with volumes of Ƀ11.1k and down 5.71% against the dollar at $0.9995.
Zcash is down 3.3% for the day to Ƀ0.05155 per ZEC and down 5.89% against the dollar to $438.93 with an average volume of Ƀ4.1k for the 24 hour period.
Litecoin is down 3.38% against the dollar for the day at $154.53 and down 0.38% to Ƀ0.0182 on volumes of Ƀ15.7k.
Dash is down 1.89% at Ƀ0.0697 with Ƀ4.1k volume and down 4.25% against the dollar at $593.36.
Iota is down 2.65% to Ƀ0.000206 on Ƀ1.0k volume.
Ether Classic is up 15.4% to Ƀ0.003425 with volumes of Ƀ19.2k and up 11.87% against the dollar at $29.03.
Monero is down 4.72% against the dollar at $233.37 and down 2.56% against Bitcoin at Ƀ0.02737 on volumes of Ƀ3.1k.
Neo is down 1.62% for the day to Ƀ0.01276 per NEO and down 4.72% against the dollar to $108.11 with an average volume of Ƀ3.6k for the 24 hour period.
Waves is down 3.12% to Ƀ0.0006426 on Ƀ1.7k volume.
Stratis is up 5.71% to Ƀ0.0009059 on Ƀ789.404 volume.
