The Currency Analytics
By Maheen Hernandez
South Koreans are spending more on fiat to buy cryptocurrency than at any time before. A non-profit organization in Korea recently revealed that nearly 7.
The cryptocurrency industry has been facing several hurdles from the local law due to shifting regulations and hacks in exchanges.
The average investment per person in cryptocurrency has increased up by 64% to more than $6000. The investors initially used to be only older buyers.
The price of BTC went up to $5,300 during the beginning of April, and the Bullish trend is currently re-emerging.
Market participants; however, continues to face problems as one of the South Korean exchange is closing its doors in the past week.
The parent company of Bithumb recently gained a $200 million in investment from a Japanese fund, therefore, confirming plans for the United States and Japanese expansion.
Meanwhile, a Japanese cryptocurrency is getting dumped post a 70% spiking in the past week. The last week ended for Monocoin with a 50% gain.
With Facebook likely to come up with its own cryptocurrency, it is now felt that it is not an unreasonable move for businesses to use and create their own cryptocurrencies.
Gavin Brown stated, "What we're seeing really is the democratization of money, so you know, if you and I wanted to, we could create a CNBC coin.”
It is felt that multinational companies like McDonald have a better rating than several countries like Ireland.