Next to Istanbul banks on the banks of the Golden Horn there is a billboard that displays the current exchange rate of the Turkish lira: its value in dollars, euros, pounds, and bitcoins. The last of the currencies may seem out of place given the bearish market trend. Despite this, trading volume on Turkish cryptocurrency exchanges has increased by 37% since the beginning of October.
Yesterday's decline hit new yearly lows. The market consolidates slightly over the weekend
The Finnish tax authorities handed over information about 2,700 crypto traders to the Danish tax authorities. According to the press release, they used the Finnish exchange to collectively buy and sell approximately $15.65 million worth of Bitcoin. Some investors traded amounts ranging from $1,105 to $110,450. Most traded in smaller amounts and very few traded in amounts greater than $110,450.
American fast food chain Church's Chicken has begun accepting Dash payments in Venezuela, the company said in an official announcement on Facebook. Cryptocurrency is accepted at all 10 Church's Chicken restaurants. Dash has already made its first transaction with Church's Chicken and uploaded a video about it on its official YouTube channel. The restaurant claims to be the first global fast food chain to embrace digital.
According to a recent analysis by Nasdaq's Jiguang, the number of Chinese citizens using cryptocurrency-related apps has exceeded 7.5 million, a figure that shows a 230.84% year-on-year increase despite severe market volatility.
IOTA has reportedly developed a plan to decentralize its network by eliminating the coordination node. This part of the IOTA Tangle is currently responsible for ordering transactions, but it poses a number of problems. IOTA has already started the process and intends to remove this node from the network next year.
This year, several stablecoins (Circle USD, Gemini Coin and PAX) have been listed on major cryptocurrency exchanges. For the first time since 2014, investors in the digital asset market have access to verified, backed and regulated alternatives to Tether (USDT).
Bearish pressure may resume with renewed vigor, which will lead to new annual lows. But for now the market is trying to consolidate at current prices.
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