Crypto: BTC Rises on Thailand’s Digital Asset Plan
CRYPTO – On Friday, Bitcoin and other major cryptocurrencies slightly increased in Asia. Moreover, this followed after news that the stock exchange of Thailand is eyeing the possible development of a nationwide digital asset. It would incorporate a cryptocurrency exchange.
Bitcoin gained 0.96% to $3,611.3 as of 12:35 AM ET, . There was an increase of 1.05% to $121.4 in the Ethereum. Moreover, XRP surged 0.46% to $0.32554. Litecoin climbed 1.45% to $31.22 on its trade.
Numerous reports from media showed that the plan of Stock Exchange of Thailand (SET) to submit an application for a digital license. Through it, the operation of a crypto exchange would emerge and could allow digital asset trading.
Meanwhile, Pattera Dilokrungthirapop is the Association of Securities Companies’ chairwoman and vice-chairwoman of the SET’s board of governors.
“Securities firms are currently waiting for the SET to apply for a license. For us, digital assets are expected to grow in the future as investors gain more understanding of this asset class,” she said.
Bankok Post stated that this move would place Thailand’s market in the pioneer group in the world that launched a separate crypto exchange.
Further, the news followed after the approval of Thai regulators on working licenses for three crypto trading firms.
Thailand has been widely popular as the friendliest Asian markets particularly for crypto businesses. The country did not only place approval for the crypto and ICO regulations. It also pursued the legalization of seven cryptocurrencies such as Bitcoin and Ethereum.
Elsewhere, US researchers gained exposure on Friday. This was after their statement that they are currently developing a new cryptocurrency superior to Bitcoin.
Seven colleges including Stanford and MIT are working Unit-e, a new digital coin.
Crypto: BTC drops amid Ethereum’s security concerns
On Thursday, cryptocurrency prices went hit low. Further, this is amid the news of a delay in Ethereum ’s hard fork because of security concerns, shocking investors.
Meanwhile, hard fork happens when there is a modification in the code of a digital token. Further, there had been expectations regarding its capability to resolve the scalability of Ethereum. However, it only just followed after ChainSecurity discovered the potential vulnerabilities from the plan.
As of 8:30 AM ET, Ethereum dropped 4% to $119.81. Cryptocurrencies edged up the total coin market capitalization at $122 billion at the time of writing.
Bitcoin dropped 1.3% to $3,579.40. Moreover, there was a decrease of 3.5% to $30.431 in Litecoin. XRP fell 1.96% to $0.3233.