Bitcoin Steady, Ethereum Dips in Quiet Trade

The price of digital currency bitcoin was steady on Monday as it levelled off following last week’s steep declines, while rival ethereum edged lower having hit record highs on Saturday.

was trading at $13,749 by 05:36 AM ET (10:36 AM GMT) on the Bitfinex exchange.

Bitcoin’s market capitalization stood at around $233 billion.

, the world’s second largest cryptocurrency by market cap, was last at $1,319.10 on the Bitfinex exchange after peaking at $1,423.20 on Saturday.

Meanwhile, XRP token was trading at $1.8 on the Poloinex exchange.

Cryptocurrency prices plunged in a broad based selloff last Thursday following reports that South Korea may be preparing to ban all virtual currency trading in the country.

South Korea’s justice minister said the government was preparing a bill to ban trading of virtual currencies on domestic exchanges. The country is one is one of the largest markets for major coins like bitcoin and ethereum.

Cryptocurrency trading in South Korea is highly speculative and digital currencies are often traded at a premium, meaning that they are priced significantly higher in the country’s exchanges than elsewhere in the world…

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