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Crypto (BTC, ETH, XRP) Markets In The Green after Upbit’s Internal Audit Reveals No Fraud

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The crypto markets have generally been in the green from yesterday when the Consensus Summit started in New York City. Bitcoin (BTC) is currently trading at $8,789; Ethereum (ETH) has found a footing above $700 and trading at $734; Ripple (XRP) is trading at $0.745; Bitcoin Cash (BCH) is currently valued at $1,446; and EOS (EOS) is showing some remarkable recovery at $14.19. All these top 5 coins are showing daily gains of between 2% to 5%: not bad increments considering the market dip that was experienced when news hit the crypto-verse that Upbit was under investigation for fraud.

The South Korean exchange was raided by local police and investigators on allegations that it was cooking its books. The investigations further dug deep to conduct allegations of suspicious movement of funds from the Upbit exchange to the personal accounts of Upbit executives.

This announcement, on the 10th of May, caused a major dip in the crypto-markets that saw the total market capitalization drop from a stable $440 Billion to levels of $389 Billion in a time period that was less than 12 hours. This happened as more and more traders received the above news and started withdrawing their digital assets from the exchange for fear of it falling apart or being closed by South Korean authorities. This news was coincidentally reported at the same time there was fear of a Mt. Gox Bitcoin (BTC) dump that was worth over 8,200 BTC: Double FUD in a day!

The above two events caused a panic that rocked the markets throughout the weekend, and into Monday when the Consensus 2018 event kicked off in New York City, bringing a much-needed increment in volume in the crypto-markets.

News reaching Global Coin Report indicates that an internal audit by Upbit has come up with preliminary findings that distance the South Korean exchange from any wrongdoings. The exchange is still operational as we speak and continues to process transactions for its traders. Upbit is very confident that the issue will be resolved 100% once the South Korean officials also reveal similar findings.

This show of confidence by Upbit has brought some much-needed relief that will allow traders to continue using the exchange without fear of further panic. Upbit is currently ranked 5th on coinmarketcap.com and according to daily trade volume in USD. The exchange is currently doing $718.53 Million in daily trade volume at the moment of writing this with EOS being the highly traded asset on the exchange. The token makes up 15.63% of the daily trade volume on the exchange.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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We know what the Institutions are saying, but what are they doing?

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Many of us hear that institutions are buying tons of BTC, XRP, and other top 20 cryptocurrencies.  The thing is how much truth really is there to that when we cannot even see the market moving in any direction other than on a downtrend. Right now, many do not know this but there is the OTC or the over the counter exchanges that exist. These exchanges like OTC trading desks do the trades off the market hense over the counter. This means that it functions in the same way the black market functions as when you sell these items it is essentially off the books so to speak.

Why does all this matter? Have any of you seen this VIDEO with Tekka Tiwari. Here he explains what I love to say as listening with your eyes. He goes on to show how Wall Street legally manipulates the market, they throw out in the media and go into the limelight and bash the said stocks, or bitcoin. The result is that of them falling drastically as many panic sell the asset. While everyone is selling off tons of their assets when it gets close to the bottom, similar to where cryptocurrency is currently they buy it in droves. He explains how this is exactly what happened in the…

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Why Is Coinbase Stalling With XRP?

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For a cryptocurrency project, getting their coin to Coinbase is one of their biggest goals. However, the popular exchange has become infamous over the years for only accepting a handful of top-ranking coins, while other ones were deemed unsafe for listing for various reasons. In the first half of 2018, however, Coinbase decided to distance itself from this old way of looking at things, and it has even announced that it will look into numerous altcoins, in order to locate and list the best among them.

Since then, the exchange has kept its word, and while it did not add dozens of new coins, they still did open up to a few projects, such as 0x and even Zcash.

However, for all this time, there was no mention of XRP, a cryptocurrency formerly known as Ripple, which is currently the second largest coin by market cap. Despite high demand, constant requests, and alike — Coinbase did not even consider adding XRP.

That is, until several days ago, when numerous reports of Coinbase considering another group of altcoins emerged. While the XRP community was very excited to see XRP listed as a candidate for a potential listing, many believe that it is still not going to happen.

Why Coinbase doesn’t want to add XRP?

As mentioned, the XRP community has been asking for the addition of XRP for…

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Why 2019 Will Be A Big Year For Crypto

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As 2018 is getting close to its end, a lot of crypto investors are turning their gaze towards the future. Considering the crypto bearish trend that has dominated this entire year, not to mention two big market crashes, it is of no surprise that everyone is more than ready to leave these harsh events behind.

However, a few questions still remain unanswered — what to expect in 2019? Is the situation going to change, or will there be just more of the same? Is investing now, when the prices are low, a good idea? These are the issues on every investor’s mind right now.

What to expect in 2019 in terms of crypto value?

Understandably, after a year such as 2018, expectations of the future are quite high. The crypto scene is still in its infancy, as many analysts have stated numerous times. Add a few more issues, such as regulatory uncertainty, mistrust coming from institutional investors, and constant hacks, scams, and theft that have been a significant factor in this and previous years, and it’s no wonder that the market keeps crashing.

However, there is more to it than that. Due to high volatility and no real control over cryptocurrencies, a massive bull run of 2017 brought cryptos to heights that were not supposed to be reached that early. Because of that, some analysts claim that, what…

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