Mitsubishi UFJ Financial Group to launch own crypto

April 10, 2019

Cryptocurrency assets consolidated on Tuesday at previously achieved levels. The price of Bitcoin has not changed at all and has remained near the level of $ 5,200. Ethereum fell to a level of 177 dollars, and XRP to a mark of 0.3510 dollars.

Yesterday, Facebook announced its intention to attract funding in the amount of a billion dollars to develop its own cryptocurrency. This amount of funding will require Facebook to provide stablokina real money. According to some reports, a new steablockcoin will be tied not to a specific fiat currency, but to a whole basket of currencies, which will reduce the token volatility. The emergence of Facebook Coin may cause additional interest in the cryptocurrency market and attract a large number of new members.

The main cryptocurrencies on Wednesday continue to grow gradually amid the news that the largest bank in Japan, Mitsubishi UFJ Financial Group, is preparing to launch its own cryptocurrency by the end of the year. Against the background of this news, Bitcoin, according to Libertex, at 9.30 a day went up by 1.22% - to 5259 dollars with a capitalization of 92.8 billion dollars. Ethereum by this time added to the price of 2.31% and rose to 181.9 dollars with a capitalization of 19.2 billion dollars. XRP has strengthened by 1.41% - to $ 0.354, its capitalization has reached the level of $ 14.9 billion. Litecoin grew by 0.56% to $ 88.8 with a capitalization of $ 5.4 billion.

The largest bank in Japan, Mitsubishi Financial Group, also announced plans to launch its own cryptocurrency by the end of 2019. The token will be tied to the Japanese yen, the opportunity to exchange fiat money for a new cryptocurrency via the bank's application will be realized. In February of this year, the bank announced the launch of the Global Open Network payment blockchain platform, and now plans to become the first Japanese bank to issue its own cryptocurrency.

The China National Development and Reform Commission has recommended that the authorities ban the Bitcoin mining in the country. At the moment, the Commission identifies Bitcoin mining as an undesirable industry and recommends that it be completely banned along with similar industries. The statement of the Commission is advisory in nature and it is unclear how much it can affect the real mining sector in China, which remains the largest in the world.

The total market capitalization has reached $ 182.8 billion. From a more significant growth cryptorok keeps a message about a possible ban mining cryptocurrency in China. The country has banned ICO operations as far back as 2017. Probably, in the short term, cryptocurrency will continue to grow moderately, financial scouts believe. In our forecast for today, we assume further strengthening of the Bitcoin price to the levels of 5230, 5250 and 5300 dollars, growth of Ethereum to the levels of 178, 180, 183 dollars, and growth of the XRP price to the levels of 0.3550, 0.3580 and 0.3600.

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