Bitcoin remains the growth leaderJul 10, 2019
We have previously emphasized that the correlation between the change in the value of the largest cryptocurrency and other coins is rapidly declining. This dynamic continues in the current week. BTC remains the growth leader, rising by more than 15% over seven days. At the same time, no tokens from TOP10 have grown by more than 5%, while 5 of them lose in value.
According to CoinMarketCap, Bitcoin continues to increase its market share, which has already reached 65% – the highest level since April 2017.
The rapid growth of BTC and a significant increase in its market share attracts the attention of rating agencies. Weiss Ratings, a US rating agency, assigned Bitcoin a first A- grade. It is also very important to note that the agency focused on the profitability of investing in Bitcoin because now the potential profit is above the risk level. This is also a good signal for BTC, which continues to grow noticeably faster than other coins.
Another eight coins have a fairly good rating with the index “B”, and only Ethereum got B+.
New York Prosecutor General’s Office VS Bitfinex
The New York State Attorney General’s Office (NYAG) has again filed accusations against the Bitfinex cryptocurrency exchange and Tether. The reason for the next lawsuit was that Bitfinex served customers in New York longer than they claimed.
The NYAG said in the new documents:
“Even a cursory examination of the facts gathered to date in the OAG’ s investigation shows that Respondents have extensive and consistent contacts to New York concerning the matters under investigation.”
This time, the agency saw signs of unregistered securities in UNUS SED LEO tokens. In case NYAG succeeds in starting an ongoing legal case on one of Bitfinex’s key assets, the company will face great upheavals.
KuCoin Trading Platform
The new trend is trading platforms for derivatives. This time we are talking about the Kucoin Bitcoin Exchange platform, which has already launched the KuMEX trading platform. At the moment, the platform is working in test mode, not having the function of depositing and withdrawing funds.
It is also reported that after the official launch of KuMEX, the platform will use 50% of its net profit to distribute bonuses among the owners of the KSC token.