Just as the crypto markets show growth over the past few days, the center of attention of today’s crypto news is Ethereum which surpassed Bitcoin Cash for the first time in history.
The data collected from multiple price trackers confirm that there is an ongoing battle within the top 10 cryptocurrencies an Ethereum is trading at $91 at the time of writing and Bitcoin Cash is trading at $87.
Bitcoin cash has traded above Ethereum since it was created in August 2017. Since the hard fork of BCH in November, the crypto asset split into two different chains and the second one being Bitcoin Cash ‘’Satoshi Vision’’ or BSV.
BSV’s price started fluctuating according to the movement of Bitcoin before it started going down and almost reaching BCH in price in December. Both of the chains are holding positions among the eighth and ninth position by crypto market cap.
Bitcoin has since managed to jump up from and reached a $3,200 over the weekend.
Many traders are still not quite sure about the chances of the resistance level holding and crypto expert Tone Vays says that a crash to $1,300 could be imminent. He said:
“Until we close below it, my probability of $1,300 remains a little bit lower; the […] we have a full candle below the moving average, it’s all over; we’re going to $1,300.’’
In the top twenty list, Litecoin saw some daily gains up to 9 percent thus reaching a price at around $28,79 and this increase in price comes from the announcement that a booking website named Travala will start accepting Litecoin.
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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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