The latest cryptocurrency news show that the top cryptocurrencies Bitcoin (BTC), Ether (ETH) and Ripple (XRP) are all recording positive moves. The major cryptocurrencies are trending today after Bitcoin found a new weekly high, going over $8,000 days after it crashed below that level.
Trading shy of $8,000, BTC is now at $8,113 at press time. Overall, the top cryptocurrency is up by around 2% over the past 24 hours. The altcoin news, on the other hand, show that the top altcoin Ether (ETH) has dipped to $229 earlier this week but rebounded and is now trading at $260 at press time. The Ether recovery has led many other altcoins to grow, too.
For example, Ripple (XRP) is also in the major cryptocurrencies which saw gains on the day, trading at $0.401 and trending up with a rise close to 2%. Overall, the XRP coin has seen much less substantial gains than Bitcoin and Ether on the day, but is still in the green zone.
Other notable gains in the coming altcoin news were recorded by Bitcoin Cash (BCH) which crossed the $401 mark, EOS (EOS) which reached $6.52 and Binance Coin (BNB) which is now again at $35. The three coins were gaining 3%, 2.9% and 6.7%, respectively.
Among the top 10 major cryptocurrencies, the only loser was Litecoin (LTC) which lost 2% from its price and is now at $135. However, there is a solid sentiment right now which may trigger this altcoin to rise in the coming days.
Tether (USDT) seems to be perfectly pegged to its $1 position. The total market cap of the dollar-pegged altcoin is now at $3.37 billion and the daily trading volume of this stablecoin is at $18 billion so far on the day.
A notable increase was seen in the 30th ranked altcoin Aurora (AOA) which managed to surge by 67% and reach $0.054 with a market cap that went above $6.5 billion and a trading volume of more than $1.5 million on the day.
Right now, the best cryptocurrency news sites show that a bull run could be on its way. The total market cap has also reached the milestone set at $260 billion and the 24 hour volume is at $64 billion. Bitcoin’s dominance has dipped a bit, going at 55% as the major cryptocurrencies rose on the day.
Crypto Custodian BitGo Hires Xapo Vice President As New CRO
“Pete has a deep understanding of capital markets and an exceptional breadth of experience in financial services. This makes him a perfect partner for institutional investors who are entering the cryptocurrency market. We’re building the financial infrastructure of the future and Pete’s experience in both traditional financial markets and cryptocurrency will be critical.”The crypto custodian BitGo is one of the more stable companies out there - and Najarian's knowledge and skill set will definitely help the company. According to his LinkedIn profile, we can see that Pete Najarian has previously served as the global head of emerging markets sales at the Royal Bank of Scotland and has also been head of institutional client coverage - APAC at the financial services firm UBS (as well as other positions). Before this, the latest cryptocurrency news also showed that the crypto custodian BitGo has been expanding its presence to Japan this month - and is planning to substantially grow its Japan-based team. The expansion follows hiring a sales director for the Tokyo office of the firm. In May this year, the crypto custodian BitGo appointed a veteran Wall Street trader named Nick Carmi as its head of financial services - a hire which ostensibly intends to forge stronger connections between digital assets as well as the traditional financial sphere. Meanwhile, the latest Bitcoin and coming altcoin news show that there is a mix of greens and reds in the market, with the reds being more dominant as the crypto market suffered from another dump this Tuesday.
P2P Dash And Bitcoin Transactions Skyrocket In Venezuela
‘’In countries where residents are under pressure from economic mismanagement, Bitcoin trading becomes critical. Two factors drive Bitcoin trading: one, there is pressure to purchase Bitcoin using local currency before it loses even more value; and two, there is a need to redeem for the local currency either past purchases or purchases made outside the country by friends/family, enabling residents to cope with rising prices. This results in an increase in Bitcoin trading in the local currency.’’
Trading Platform Giant Binance Announces The Launch Of Venus
“We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the digital economy. We hope to achieve a vision, that is, to reshape the world financial system, allow countries to have more tangible financial services and infrastructures, protect their financial security and increase the economic efficiency of countries.”Venus is an open blockchain project that will develop localized stablecoins and digital assets pegged to fiat currencies so Binance will start providing full process technical support, compliance risk control and multi-dimensional cooperation network in order to build the new cryptocurrency but also will leverage its existing infrastructure and regulatory establishments according to the co-founder of Binance. The exchange also noted that they welcome more governments, companies, and organizations that have a huge influence on a global scale in order to collaborate with it for the new Venus initiative. Facebook’s cryptocurrency Libra has a similar structure. The goal is to serve the unbanked people and to facilitate low-fee money transfers around the world. Libra is expected to go live in the year 2020 but it has already faced scrutiny from many banks and politicians around the world. Facebook has stated recently in a risk disclosure filed with the Securities and Exchange Commission that Libra will never launch because there is no significant regulatory scrutiny. Binance, on the other hand, stated that it believes that Libra will grow at an exponential rate and will, therefore, reshape the world financial system. They also noted that Libra could bring changes more than the Internet did as per the announcements that we have in the latest cryptocurrency news:
“Instead of resisting change and losing the opportunity, it is better to embrace change. […] At the same time, ‘Libra’ needs to be developed in an orderly manner under the regulatory framework.’’
Bitcoin Breaks Resistance As Other Altcoins Awaken This Monday
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