One of the leading crypto platforms in Asia (in terms of liquidity, trading volume and traffic) is registered under Japanese authorities, regulated by Japan’s Financial Services Agency (FSA) and audited by the Japan Blockchain Association. The report ends with an overview on regulatory movements that Ripple supports. Coincheck is a cryptocurrency centralized exchange (CEX) with a global community and a key user base in Japan.
Coincheck coinmarketcap series#
The report also takes us through the way back machine to a series of other moments that helped send the crypto markets into a downward spiral earlier this year.įrom rumors of a total ban on crypto in South Korea, to China’s tightening of the belt on ICOs and digital currencies, to the investigations on Tether’s reserves and forensics on the $532 million hack on the Japanese exchange Coincheck, the year in crypto has been episodic and volatile. XRP fell 19.1 percent versus an average of 7.2 percent for the other top five digital assets by market capitalization on ’s index price.” While it impacted all digital asset prices, XRP’s relatively high share of volume from the South Korean market meant its displayed price dropped disproportionately versus other top digital assets. “The change artificially erased $100 billion in market value, which resulted in significant market turbulence. That’s when CoinMarketCap abruptly decided to remove South Korean exchanges from its pricing index, which rocked XRP’s boat in a real way. Ripple also looks back at a significant move that upended the markets back in January. These sales represented 0.095 percent (9.5 basis points) of the $160.0 billion traded globally in XRP in Q1.” …Additionally, the company sold $151.1 million worth of XRP programmatically, as a small percentage of overall exchange volume. “In Q1 2018, market participants purchased $16.6 million directly from XRP II, LLC – our registered and licensed money service business (MSB). The report details the market value of all the XRP the company sold to institutional market-makers and financial institutions. Ripple recently released a report on XRP, recapping the major movements of the coin in the first quarter of 2018.
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