Ethereum falls for third straight session after Microsoft's ban

2018-05-16 13:08:48 GMT (Economies.com)
Ethereum falls for third straight session after Microsoft's ban

Ethereum fell on Wednesday for the third straight session away from the crucial support of $700 as most cryptocurrencies lose ground following Microsoft's blanket ban on crypto ads. 

 

At Bitstamp, ethereum fell $9, 1.3% to $695 from the opening of $704, with a session-high at $710, and a low at $675. 

 

Ethereum lost 3.2% on Tuesday, the second loss in a row amid concerns of increased regulatory measures in Japan and deepening official investigations in South Korea. 

 

Ethereum tumbled 7.2% last week, the first loss in six weeks as cryptocurrencies fell en masse. 

 

Market value of cryptocurrencies fell $18 billion on Wednesday to a total of $373 billion, moving below $400 billion again and heading for April lows. 

 

After Facebook, Google, and Twitter, Microsoft lopped another hit at the crypto market by banning all crypto-related ads on the search engine Bing. 

 

The company stated the reason behind the ban is the current illegal position for crypto messaging, which increases risk of fraud and misguidance for Bing users. 

 

The company said the main factor was that there are no official regulations for crypto products so far, which prompted Microsoft to take precautionary actions until the issue is addressed by regulatory authorities

 

Bing plans to start implementing a global-wide ban between June and early July. 

 
 
 
  Symbol Last Change Chg.%
1.1689
0.0058
0.5025%
1.3189
0.0119
0.9101%
14.191
0.124
0.885%
71.060
2.072
3.004%
79.46
0.06
0.08%
1201.690
7.915
0.663%
 
 
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