Japan Confirms Massive Involvement in Digital Assets

Digital assets have continued to face headwinds early this morning as Bitcoin and other major cryptos including Ripple and Ethereum languish.
Yaron Mazor
bitcoin japan

Japan’s FSA has released data on cryptocurrency use in the nation. And Texas has issued a warning to its residents regarding the use of cryptocurrencies.

Japan’s Infatuation with Cryptocurrencies Confirmed by FSA

The Financial Services Agency of Japan has published data regarding the nation’s involvement with cryptocurrencies, and the numbers confirm massive involvement in digital assets via its citizens. There are at least 17 cryptocurrency exchanges operating in Japan, and almost 85% of the people trading are between the ages of 18 and 40. It also highlights that in 2014 approximately two million U.S Dollars in the value of Bitcoin was being traded using margin, and the number soared to over 543 billion U.S Dollars of value via margin accounts as of late 2017.

Ripple Stays above November 2017 Price Ratios & Raises Eyebrows

There is no denying Ripple has been affected by the bear trend in digital assets. XRP continues to trade near forty-eight U.S cents and its forty-two cent support level remains in plain sight. However, intriguingly Ripple has not sunk below it mid-December 2017 price levels. Meaning the cryptocurrency has not challenged its November lows when euphoric buying started to grip the wide marketplace. Traders can look at this one of two ways, either XRP will eventually relent and move lower and lurch towards thirty cents per coin. Or this plateau Ripple has achieved – shows some type of fundamental strength and a solid juncture in which to build. And speculator certainly has reasons to consider both possibilities as they position themselves.

Ripple Daily Chart

Texas Warns its Residents and Retails to be Careful of Cryptocurrencies

The state of Texas has warned its residents’ many promoters of cryptocurrencies are engaged in fraud. The Texas State Securities Board also told retailers to avoid allowing its clients to purchase good with digital assets. The agency has warned that without a physical address, companies promoting the use of cryptocurrencies and their exchange remains difficult to supervise and pursue in cases alleging criminal activity.

Blockchain Conference at the University of Texas in Austin Tomorrow

The University of Texas will host a Blockchain conference tomorrow in Austin which will focus on Blockchain opportunities and realities.

  • April 13th, U.S, McCombs Blockchain Conference in Austin

Yaron Mazor is a senior analyst at SuperTraderTV.

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