Cryptocurrency update: Bitcoin, Ethereum edge lower; Binance coin climbs over 4%
Top cryptocurrencies like bitcoin, etherium conitnue to stay on top, while binance coin becomes the third most valuable cryptocurrency
Bitcoin and Ethereum prices, top two cryptocurrencies in terms of market capitalisation, dropped 2.06% and 1.18% on Friday. Bitcoin is currently trading at $31,866.95 while Ethereum is at $1,939.09.
Despite ban in Italy, Binance advanced nearly 6% to $320.57 levels in the last 24 hours.
Other cryptos like Dogecoin fell 3.62% yesterday, after its co-founder tweeted that he would not return to cryptocurrency and not share his thoughts on the same. Polkadot declined 3.43% in the last 24 hours. Both the currencies were trading at $0.1865 and $13.21 respectively.
Chinese cryptocurrency shutdown by regulators
Chinese cryptocurrency community and information provider Bishije was shut down by Chinese regulators by ceasing its operations in Mainland China and blocking its website citing violations of central bank regulations.
In May, the Chinese state council vowed for a crackdown on bitcoin trading and mining keeping in view the underlying financial risks.
Paypal increase crypto purchase limit
Users of Paypal can now buy $1,00,000 worth of bitcoin and other digital assets per week, up from a previous limit of $20,000. It will also be scrapping its annual purchase limit of $50,000.