Crypto Corner: Major Coins Looking Slightly More Stable, Circle Looks to Expand Poloniex in Asia and Taiwanese Central Bank Chief Skeptical About Crypto
Point Roberts, WA and Delta, BC - March 16, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what’s driving the cryptocurrency markets with today’s edition of Crypto Corner.
Crypto Corner - March 16, 2018
By Samuel Mowers at Investorideas.com
Major Coins Looking Slightly More Stable, Circle Looks to Expand Poloniex in Asia and Taiwanese Central Bank Chief Skeptical About Crypto
There has been a slight recovery by major cryptocurrencies that reached a one-month low earlier yesterday. Bitcoin (BTC) is consistently above $8000 USD (currently at about $8500 USD at press time), after having declined to $7676.52 USD at its lowest yesterday.
Overall the market cap has improved from the one month-low of around $320 billion USD to a roughly $338 billion USD at press time. Though prices may continue to decline if large scale sell-offs keep occurring, the mild improvement today may be attributed to the easing of anxiety that came with Google's announcement that it will be banning crypto ads.
Payments technology company Circle, which recently acquired cryptocurrency exchange Poloniex for a reported $400 million USD, plans to hire 100 new employees in a bid to expand into Asian markets in China, South Korea, Hong Kong and Japan.
In an interview with Bloomberg, Circle co-founder Jeremy Allaire said:
"The long-term view is that every form of value on the planet will become a crypto token,"...."We want to offer more markets, more assets, we want to localize it, and launch it in more international markets and, critically, we need to work with the most important regulators."
Taiwan's new central bank chief, Yang Chin-long, has expressed apprehension about cryptocurrencies, according to a roughly translated story from Taiwanese publication Apple Daily.
In the piece Yang is quoted as saying that he "[wanted] to go in that direction", but lamented that cryptocurrencies had become a highly volatile commodity and were unreliable as a payment method.
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