Most altcoins, especially the top 20 are reporting moderate gains on the day as the largest cryptocurrency approaches the $8,000 price point again. As noted in all of the altcoin news headlines, Bitcoin increased up to 2 percent on the day.
The largest cryptocurrency is trading at $7,957 at press time according to the data from CoinMarketCap. Bitcoin is up by 2 percent on the day and by looking at its weekly chart the cryptocurrency is up by 2.55%.
The proximity of the biggest cryptocurrency is $8,000 which comes as the United States Securities and Exchange Commission (SEC) reported a few days ago that they are ‘’still in information-gathering mode’’ regarding the VanEck bitcoin exchange-traded fund (ETF).
Most altcoins among the top 20 are reporting notable gains and one of the biggest winners is Bitcoin SV (BSV) which increased up to 102 percent at press time. As reported in the latest cryptocurrency news, Bitcoin SV promoter and the self-proclaimed Satoshi Nakamoto-Craig Wright, has officially filed U.S copyright registrations for Bitcoin’s whitepaper and code.
Ethereum (ETH) on the other hand, is clinging to its position as the largest altcoin by market cap which is currently standing over the $26.7 billion price point. The second largest altcoin XRP now has a market cap of $16.6 billion.
Following the data from CoinMarketCap, we can see that the price of ETH increased by 3.1 percent over the past day. At press time, ETH is trading at $253. By looking at the weekly charts, Ethereum seems to have increased by over 18.5 percent.
Ripple’s XRP is nearly three percent over its previous price in the last 24 hours and is now trading at $0.401. Over the week, the altcoin increased by about 4.50 percent. At press time, the total market cap of all cryptocurrencies combined is $248.5 billion which is three percent higher than the one reported week ago.
Most of the oil futures and indexes saw some mixed signals over the day with WTI Crude going down by 0.13 percent. Brent Crude dropped by 0.08 percent and Mars US by 0.13 percent at press time. The Canadian Crude index saw some increase action by 0.6 percent at press time.
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“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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