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All But One of Top 20 Cryptos See Green, Bitcoin Safely Above $6,700

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Crypto markets are seeing another wave of growth, with Bitcoin trading above $6,700 و 19 out of the top 20 coins firmly in the green.

Sunday, September 23: crypto markets are seeing another wave of green. All but one of the top 20 cryptocurrencies by market cap have made gains over the past 24 hours, according to CoinMarketCap.

Market visualization from Coin360

Market visualization from Coin360

After suffering a slight decline yesterday, بيتكوين (BTC) rebounded today, trading above $6,700 throughout the day. The cryptocurrency is at $6,734 as of press time, up 0.9 percent on the day.

Bitcoin is also up 3.3 percent over the past 7 days, and up 5 percent up on the month. Despite that, Bitcoin’s dominance has dropped slightly, down from 55.6 percent a week ago to 51.2 percent at press time, according to CoinMarketCap.

Bitcoin price chart

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Ethereum (ETH), after having briefly given up its position during a massive Ripple (XRP) rally, is now back to the second spot by market capitalization.

The coin is up 2.6 percent in 24 hours to press time, currently trading at $245. Ethereum is up a significant 10.4 percent on the week, but it has not yet managed to recuperate its monthly losses, still down around 9 percent over the past 30 days.

Ethereum price chart

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

The third largest cryptocurrency by market cap Ripple (XRP) is the only one to see some losses among the top 20 coins, according to CoinMarketCap. Following a period of immense growth earlier this week, Ripple is down 0.23 percent over the past 24 hours, to trade at $0.568.

Ripple price chart

Ripple price chart. Source: Cointelegraph Ripple Price Index

Crypto markets are holding their gains firmly, with total market cap slightly up over the past 24 hours, currently at $227 billion. Following a significant sell-off that started on September 5, the market has only recently climbed back above the $220 billion point.

Total market capitalization chart

Total market capitalization chart. Source: CoinMarketCap

The sixth largest coin by market cap Stellar (XLM) is seeing the most gains among the top 20. Stellar’s price has surged more than 20 percent in 24 hours to press time, currently at $0.289. The altcoin experienced considerable growth this week, up around 40 percent over the past 7 days, according to CoinMarketCap.

Cardano (ADA) is up 10.6 percent today, currently trading at $0.09. The altcoin’s weekly gains constitute more than 31 percent, according to CoinMarketCap.

CNBC’s Ran Neuner has noted in a tweet that cryptocurrencies are gaining significant momentum, pointing out that the daily trade volume of the entire market is approaching $14 billion, which is “the most volume we have seen in a while.

الصفحة الرئيسية أخبار التشفير CEO Behind GAW Miners Paycoin Ponzi Scheme Sentenced to 21 Months in Prison
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CEO Behind GAW Miners Paycoin Ponzi Scheme Sentenced to 21 Months in Prison

CEO Behind GAW Miners Paycoin Ponzi Scheme Sentenced to 21 Months in Prison

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The CEO of now-defunct GAW Miners has been sentenced to 21 months in prison and ordered to pay $9.2 million in restitution to investors.

Homero Joshua Garza, the CEO of the now-defunct U.S. crypto firm GAW Miners, has been sentenced to 21 months in prison for defrauding investors, local news agency Hartford Business reports Thursday, September 13.

Garza received the verdict in the Hartford federal court, following his guilty plea to a wire fraud charge related to creating and selling a scamcoin dubbed PayCoin (XPY).

Instead of serving the original 20 year sentence, Garza will report to prison on January 4, 2019 and be jailed until 2021, with an additional three years of supervised release, including six months in home detention.

In addition to prison time, the former CEO of GAW Miners will have to repay a $9.2 million restitution to investors, which is the approximate amount of financial damage wrought by the nine-month crypto scam.

Founded in 2014, Bloomfield-based GAW Miners was a firm that specialized in manufacturing, supplying and selling special hardware for crypto mining. The company was shut down in 2015 following allegations of operating as a Ponzi scheme, which was followed by a lawsuit in 2016.

Created by GAW Miners developers, the PayCoin cloud mining cryptocurrency was launched in 2014. The digital currency was based on the SHA-256 algorithm and both proof-of-work (PoW) و proof-of-stake (PoS) protocols.

While GAW Miners had reportedly “guaranteedinvestors a $20 floor price for PayCoin, the highest XPY price was $15.92 instead, according to CoinMarketCap.

In late August, the alleged former owner of crypto exchange BTC-e Alexander Vinnik was indicted and subjected to afakeinterrogation by French prosecutors in a Greek Court. Following a protracted legal battle and several lower court rulings, the Greek Supreme Court eventually ruled to extradite Vinnik to Russia.

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