In recent weeks it has been Japanese demand (and notable premia) that has driven the exponential rise in Bitcoin, but recently, as CoinTelegraph reports, it has been South Korea. Overenight saw Bitcoin prices explode once again, smashing through $2500, $2600, and $2700 for the first time…
As CoinTelegraph.com reports, South Korean Bitcoin traders are facing asking prices of $4,500 as the virtual currency’s price continues to surge.
Order books from domestic exchange Coinone list a current price of 4,254,000 won ($3805), with a 24-hour high of 5,025,000 ($4494).
As the hyper-expensive – and now empty – sports venues built by Brazil for the 2016 Rio Summer Olympics rapidly deteriorate, many of the medals won by the athletes who participated are now revealed to be decaying as well.
Due to defective workmanship and low quality materials used in their manufacture, at least 130 medals from the 2016 Summer Olympics in Rio have been documented as decaying, rusting or chipping, according to USA Today.
“We’re seeing problems with the covering on between 6 or 7 percent of the medals,” conceded Rio Olympic Committee communications officer Mario Andrada, who added that, “it seems to do with the difference in temperatures.”
Andrada asserted that the decay was “completely normal,” observing that a mere 1.34 percent of an Olympic gold medal is actually gold, and affirming that some 30 percent of what is claimed to be sterling silver is actually recycled silver.
The spokesman suggested that Olympic committee-authorized manufacturing and material was not necessarily at fault, as many medals “were dropped or mishandled, and the varnish has come off and they’ve rusted or gone black in the spot where they were damaged.”
What sell-off? In a feat that has not been accomplished in more than a week, the S&P 500 on Wednesday notched a fresh record closing high.
The S&P 500 gained 0.25 per cent to 2,404, the Dow Jones Industrial Average added 0.36 per cent to 21,012.4, and the Nasdaq Composite gained 0.44 per cent to 6,163.
Last week, equities markets took a blow from rising concern over the political fortunes of US President Donald Trump.
The former businessman’s election last year helped stoke sharp gains for equities on expectations that his policies will support corporate America. That enthusiasm has ebbed and flowed as Mr Trump has struggled to dig-out of numerous scandals.
Still, after Wednesday’s gains, the most recent bout of selling has been entirely reversed and then some. The S&P 500 index is up 7.4 per cent for the year.
Investors on Wednesday parsed through minutes from the Federal Reserve’s May meeting, which set the table for next month’s meeting, which could see it raise rates for the second time this year. Investors interpreted the news as dovish on margin, however, with the US dollar slipping 0.26 per cent against a basket of six peers.
The yield on the benchmark 10-year Treasury note fell 0.0298 per cent to 2.2502 per cent.