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.
Gold-Backed Russian Crypto Could Crush The USD Standard
“As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”Nabuilna explained that CBR is still unsure whether to use cryptocurrencies and how they could be launch into Russia’s monetary system but the idea of a zero-volatility digital asset is inviting:
“The CBR, in principle, is opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies fulfill the function of monetary surrogates. We have prepared an analytical report and will soon present it which will analyze what cryptocurrency is, what is happening in the world, what approaches different countries to have, and what regulation is envisaged. And, if the phenomenon of cryptocurrency in any perspective may cause risks to our macroeconomic stability, we need to understand that.”As noted in one of the best cryptocurrency sites, Russia is under significant economic sanction from the United States.
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“Every time we’ve seen a halving event in Bitcoin or Litecoin, the price has risen astronomically,” is what Mati Greenspan believes, who is a senior market analyst at the trading platform eToro. “So if that pattern continues, what we’ve seen so far is small potatoes in comparison,” he said. “This is quite normal for the crypto market.”Right now, cryptocurrencies are undergoing a major renaissance. While Litecoin is reported as the hottest cryptocurrency this year by many best cryptocurrency news sites, Bitcoin is also triggering a new rally and Facebook with its expected crypto project is additionally fueling up the space. All of the developments happening this year have managed to push the price of Bitcoin by 120% since the beginning of the year - and the price of Ether close to 100% this year. Litecoin remains the hottest cryptocurrency - going from $30 at the end of last year to $130 right now.
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