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23 Sep 2019
3 min read

Crypto and Forex News Roundup 23/09/2019

 

 

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Written by OspreyFX News Team

Crypto markets sliding again

The cryptocurrency markets appeared to be sliding again on low turnover. Bitcoin once again fell below the $10,000 level and was trading at around $9900 at press time on Monday. Ethereum also experienced a slight drop to the $210 level after having reached the $220 mark late last week. Other currencies that experienced drops included XRP, EOS and LTC which saw modest falls of around 2% each. BCHABC was back into relatively positive territory where it traded at around the $307 mark whilst Stellar continued losing ground after its massive pump last week, dropping by 3% to the $0.066 level.

Ripple beefs up its partnerships

The third-largest cryptocurrency by market cap, Ripple continued beefing up its partnerships. This time, it was the turn of Interbank and Vitesse, the former a Peruvian bank whilst the latter is an English based financial outfit. Interbank has a hundred-year history and although it’s relatively medium-sized, it still has assets of around $4 billion.

Vitesse is a company that is much more recent in the financial services trade. Opening their doors in 2013, this UK based company offers payments services to users. According to Ripple, these two partners are good since they mainly focus on international-based payments. This is apparently one of the key factors for which Ripple was built.

 

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Japan based Monacoin surges

Japan’s native cryptocurrency Monacoin (MONA) surged, recording a day-over-day increase of 17% on September 14. After struggling with a downtrend and sinking to new lows in August, MONA had rebounded sharply in oversold conditions. According to a report by the Japan Virtual Currency Exchange Association (JVCEA), the Japanese market was once again stocking up on MONA again.

Monacoin is Japan’s first native cryptocurrency. Developed by another anonymous entity, calling themselves “Mr. Watanabe” in 2014. The pseudonym is thought to be a homage to Satoshi Nakamoto whose identity is still a mystery. Watanabe is a common Japanese surname and comes after the ferrymen’s guild of medieval times. Since it’s being listed on several exchanges, The coin maintains a popular status in Japan and with traders.