The cryptocurrency market closed out a lackluster week with a day of powerful selling on Friday, with most major currencies trading down more than than 6 procent. Here&rsquo,s a look at some of the headlines that were moving the cryptocurrency market today &mdash, and which currencies were on the budge.
Korean authorities raided the offices of cryptocurrency exchange UpBit on Thursday and Friday. UpBit, which is the largest Korean cryptocurrency exchange and the fourth largest te the world, said on its webstek it’s &ldquo,under investigation by prosecutors and is cooperating.&rdquo,
According to a report by Cheddar, Facebook Inc. (NASDAQ: FB) is gravely considering developing its own cryptocurrency. Earlier ter the week, Facebook launched a fresh blockchain team led by former Messenger head and Paypal Holdings Inc. (NASDAQ: PYPL) executive David Marcus but didn’t provide details on the goals of the team.
Economist Nouriel Roubini, who gained notoriety for predicting the 2008 financial keerpunt, blasted cryptocurrencies at the Fluidity Summit ter Brooklyn. Roubini said cryptocurrencies create &ldquo,puinhoop&rdquo, te the payments business and are &ldquo,totally inefficient&rdquo, and &ldquo,never going to work.&rdquo,
The Bitcoin Investment Trust GBTC (OTC: GBTC) traded at $13.88, down Four.8 procent.
Here&rsquo,s how several top crypto investments fared Friday. Prices are spil of Trio:30 p.m. ET and reflect the previous 24 hours.
- Bitcoin declined Five procent to $8,671,
- Ethereum declined 6.7percent to $691,
- Ripple declined 9.7 procent to 70 cents,
- Bitcoin Contant declined 9.9 procent to $1,418,
- EOS declined 14.Four procent to $15.34.
The three cryptocurrencies with at least $1-million market caps that have made the thickest gains overheen the past 24 hours are:
- BunnyCoin: $Two.4-million market cap, 122.9-percent build up.
- InflationCoin: $1.1-million market cap, 38.4-percent build up.
- BitTokens: $1.0-million market cap, 26.7-percent build up.
The three cryptocurrencies klapper hardest te the past 24 hours were:
- LiteDoge: $1.6-million market cap, 35.7-percent decline.
- PeepCoin: $Two.2-million market cap, 32.5-percent decline.
- Rubycoin: $15.1-million market cap, 30.5-percent decline.