The governor of a South Korean financial regulator has said it has “no plans” to supervise cryptocurrency trading.
CoinDesk
Flying High: Bitcoin Cash Rallies on Korean Volume Spike
Amid high trading volumes in South Korea, bitcoin cash is flying high today and could gain more altitude in the near-term.
CoinDesk
Korean Exchange Bithumb Suffers Outage amid Bitcoin Cash Craze
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The post Korean Exchange Bithumb Suffers Outage amid Bitcoin Cash Craze appeared first on CryptoCoinsNews.
Upbit Enables Korean Won Trading Market for Ethereum
Every cryptocurrency in existence today is always looking to generate more liquidity. This means currencies need to get added to additional trading platforms moving forward. Ethereum has been incredibly successful in this regard over the past few years. Upbit, one of the biggest exchanges in South Korea, has added a KRW/ETH pair. This is a major development for the second-largest cryptocurrency by market cap in the world today.
There is no shortage when it comes to cryptocurrency trading platforms which support Ethereum. More specifically, it seems every exchange in the world has an ETH trading pair right now. Especially in Asia, there seems to be a growing interest in this altcoin. Not just by speculators or traders, mind you, but also by trading platforms themselves. Multiple South Korean companies have added Ethereum to their list of currencies in the past few months. Upbit is one of the last ones to do exactly that.
Upbit Banks on ETH/KRW to pay off
It is unclear what took the company so long to complete this step. After all, competing South Korean exchanges have enabled ETH trading ages ago. This was a smart move, as the trading pair always generates a lot of trading volume. Upbit is looking to get in on this market, even though they took their sweet time in doing so. Then again, with Korea’s largest exchange finally on board, things will get pretty interesting. Whether or not this will result in an ETH price increase, remains to be determined.
So far, this new trading market hasn’t generated any spectacular volume. It is not better or worse compared to other exchanges, which is to be expected. Then again, more fiat currency gateways for Ethereum can only be considered to be a good thing. After an initial uptrend, it seems the price has returned to normal. Bringing this value in line with other exchanges is only to be expected.
It is also worth mentioning there are a ton of other Ethereum markets on Upbit. Bitcoin, as well as any other supported cryptocurrency, can be traded against Ether right now. It is good to see secondary and even tertiary markets on Upbit right now. The company has high hopes for all supported currencies, by the look of things. Whether or not they can compete with Bithumb and Coinone in the ETH/KRW department, remains to be determined. Still, a worthwhile addition and one that spells positive news for Ethereum moving forward.
Header image courtesy of Shutterstock
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Litecoin Price Looks Northwards Amid Korean Volume Spike
Having spent a better part of the last month defending the key trend line support, litecoin clocked a three-week high of .71 yesterday.
CoinDesk
Blockchain-Based Chain ID Brings More Security to Korean Online Banking
Blockchain technology continues to be of great interest to financial institutions all over the world. Although there is a lot more in the way of speculation than working products right now, that’s slowly changing in South Korea. More specifically, the country’s online banking industry just received a major blockchain-based security upgrade. Amazingly, it is its first major improvement in two decades. Blockchain Makes Korean Online Banking More Secure It is evident the blockchain industry could have a major impact on the Korean banking industry as a whole. More broadly, it could affect any financial sector in any country on the planet. It seems South Korea is
BitNewz.net
Ripple Price Outlook Positive on Korean Volume, Analyst Prediction
Ripple’s XRP cryptocurrency has gained 10 percent in the last 24 hours amid keen Asian trading and bullish price predictions.
Litecoin Shows No Optimism to South Korean Exchange Announcement
With the digital spotlight being focused on Bitcoin in recent weeks, its smaller sibling Litecoin has fallen by the wayside. Trading has been flat and it has failed to gain traction in either direction, currently sitting around where it has been languishing for the past fortnight.
The world’s fifth largest cryptocurrency may be in store for a well-needed lift after a major South Korean exchange enabled direct LTC trading. Since the doors in China were unceremoniously slammed shut on crypto trading last month South Korea has taken up the lion’s share of that trade, surpassing China to become the third largest Bitcoin market.
South Korea’s second-largest exchange, Coinone, recently added Litecoin to its platform, processing .2 million dollars in trade during the first 24 hours. The country is big on Litecoin, with the top exchange Bithumb accounting for over a quarter of global LTC trades. In fact, Bithumb is even bigger than Bittrex in terms of 24 hour USD volume with over 0 million traded according to Crypto Coin Charts. Bithumb settles .5 million in LTC to KRW trades per day, a trading volume that is over twice as a large as that of GDAX, Coinbase’s flagship digital currency exchange. Bithumb is also largely responsible for the rapid growth of Bitcoin Cash and was hugely influential on the adoption of other altcoins such as Qtum.
Coinone, though not as big, offers something slightly different, an offline trading exchange that appeals to traditional investors and retail traders. A direct customer service is available from headquarters in Seoul, this would be heaven for anyone that has tried and failed to get anywhere near customer service from other exchanges such as Coinbase.
This is all good news for Litecoin though it has yet to be reflected in the price, higher trading volumes do not guarantee higher prices. The trend is the key factor here and with Litecoin being the silver to Bitcoin’s gold, processing four times faster, it should start to make gains soon. In addition to its liquidity, the integration of LTC will be a long-awaited boost in the mid to long-term future for the altcoin. The coin has integrated the Bitcoin core development team’s scaling solutions (SegWit) and is exploring further technology to improve security and increase efficiency for its users. Bitcoin maybe be the current King of coins but there is light at the end of the tunnel for Litecoin
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Bitcoin Is a Commodity Not a Currency, Says South Korean Central Bank Chief
The head of South Korea’s central bank has ruled out classifying bitcoin as a currency, according to a new report.
Police Confirm North Korean Connection in Bitcoin Exchange Phishing
Law enforcement officials have confirmed that hackers from North Korea sought to steal bitcoins from exchanges in South Korea.
CoinDesk