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TRON (TRX) founder Justin Sun is the latest fan of Joseph Muscat, the prime minister of Malta. On March 26, Sun said on Twitter Inc. (NYSE: TWTR) that he supports the great foresight of Muscat because of his crypto-friendly policies.
On March 23, we reported that the crypto exchange Binance had been invited by Malta's prime minister to discuss the country's policy on cryptocurrencies. In February 2018, the Malta government launched the Malta Digital Innovation Authority to provide legal clarity for companies operating in the crypto market.
Sun also said that he is seriously considering investing and operating in Malta.
Here is a recap of the top cryptocurrency prices at 2:00 p.m. EDT (returns in last 24 hours).
- Bitcoin: $7,953.52, -0.97%
- Ethereum: $450.30, -2.90%
- Ripple: $0.577, -2.59%
- Bitcoin Cash: $866.95, -3.63%
- Litecoin: $133.13, -6.32%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies...
Cryptocurrency Market News
On Thursday morning, the market capitalization of the global cryptocurrency sector hit $300.12 billion.
Bitcoin comprised 44.9% of the total cryptocurrency market, with a market cap of $134.76 billion.
The top performer in the space was Mithril, which jumped another 45.19% over the last 24 hours.
Other top performers from the top 50 cryptocurrencies included Ontology (up 18.38%), Bytom (up 12.73%), Bytecoin (up 6.77%), Zilliqa (up 3.88%), EOS (up 3.56%), and Steem (up 1.60%).
The worst performers from the top 50 cryptocurrencies included Veritaseum (down -20.03%), 0x (down -6.74%), Siacoin (down -6.61%), Litecoin (down -6.32%), Lisk (down -5.12%), and DigixDAO (down -5.03%).
More Bitcoin Warnings from the Fed
A leading voice in the U.S. Federal Reserve warned investors against Bitcoin.
Atlanta Fed President Raphael Bostic said during an entrepreneurship conference that investors should steer clear of the cryptocurrency markets.
"Don't do it,'' Bostic said.
"They are speculative markets. They are not currency. If you have money you really need, do not put it in these markets.''
Bostic's statements were reminiscent of warnings made by Minneapolis Fed President Neel Kashkari, who compared Bitcoin's 2017 price surge to the mania of Beanie Babies.
U.S. Has Most Bitcoin-Friendly Cities
Despite some of the bearish Bitcoin comments, there's good news for Bitcoin bulls...
U.S. markets are friendlier to Bitcoin and other cryptocurrencies than those of other nations around the globe.
The city of Los Angeles was rated the friendliest city for Bitcoin enthusiasts, with 145 ATMs and 878 businesses that accept the cryptocurrency as a form of payment.
The report indicated that cities in Canada and Europe are also friendly, with cities in Asia providing very little options for BTC enthusiasts.
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About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.