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Cryptocurrencies trade higher through weekend as Ethereum (ETH) and Ripple (XRP) lead gains

Dec 24, 2018

 

 
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Top 5 Cryptocurrencies sorted by 24 hour Volume

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Bitcoin BTC USD$4185.12 0.18% 3.64% 22.86% USD$72,992,291,845 USD$6,989,057,834
Ethereum ETH USD$147.84 1.53% 14.57% 63.81% USD$15,372,873,764 USD$3,770,779,377
XRP XRP USD$0.43 -0.34% 15.07% 41.8% USD$17,511,930,490 USD$1,455,661,896
EOS EOS USD$2.97 0.06% 4.23% 37.33% USD$2,695,604,604 USD$1,142,997,652
Litecoin LTC USD$35.42 0.53% 6.37% 25.05% USD$2,114,724,892 USD$587,865,781

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
XRP XRP USD$0.43 -0.34% 15.07% 41.8% USD$17,511,930,490 USD$1,455,661,896
Ethereum ETH USD$147.84 1.53% 14.57% 63.81% USD$15,372,873,764 USD$3,770,779,377
Qtum QTUM USD$2.86 1.7% 12.53% 50.83% USD$255,092,658 USD$310,292,023
NEO NEO USD$8.68 0.86% 11.91% 38.96% USD$563,993,744 USD$180,559,083
Cardano ADA USD$0.05 1.44% 10.51% 54.59% USD$1,244,052,887 USD$53,981,216

 

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Crypto Market Recap

  • Cryptocurrencies rallied through the weekend as the price of Bitcoin (BTC) is up 8.19% since end of day Friday to USD$4,181.08. Ripple (XRP) and Ethereum (ETH) were among the top performing coins over the weekend, up 20.67% and 34.90% since end of day Friday to USD$0.42578 and USD$145.42, respectively. Bitcoin SV (BSV), meanwhile, lagged the broader crypto market, up just 4.78% since end of day Friday to USD$108.42.

Crypto Developments in Financial Services

  • The launch of Bakkt, a cryptocurrency exchange venture headed by the Intercontinental Exchange, may be delayed once again after the company set a January 24th, 2019 launch date just weeks ago, according to a report by CoinDesk. As Bakkt intends to offer Bitcoin (BTC) futures trading and custody services, the platform may be forced to delay its launch once again because it does not have the necessary approvals from the US Commodity Futures Trading Commission (CFTC).  
  • Binance, the world’s largest cryptocurrency exchange, announced the launch of two new trading pairs against Ripple (XRP) in a blog post Monday. Binance will begin offering the TRX/XRP (TRON) and XZC/XRP (Zcoin) trading pairs, marking the first time that Binance will use XRP as a base currency. On the news, XRP jumped up to 24% to trading at a high of USD$0.44/token.

Crypto Regulatory Environment

  • Members of US Congress introduced a bill last week to combat Iran’s efforts to develop its own cryptocurrency in order to avoid sanctions. Introduced by Wisconsin Representative Mike Gallagher, the, “Blocking Iran Illicit Finance Act,” calls for sanctions against those who knowingly provide funding, services, or, “technological support, used in connection with the development of Iranian digital currency.”

General Crypto News

  • Bitmain, a Chinese cryptocurrency mining giant, has allegedly fired its entire staff of Bitcoin Cash (BCH) developers according to early reports. The alleged layoffs will target up to half of BItmain’s 2,500-person workforce. This news comes after Bitmain announced the closure of its blockchain development lab in Israel earlier this month, citing low crypto prices.  
  • China’s latest release of its state-sponsored rankings of major cryptocurrencies ranks Bitcoin (BTC) 18th and awards the #1 position to domestic blockchain platform EOS (EOS). As per a press release on Friday, China’s Center for Information and Industry Development (CCID) ranked 24 major cryptocurrencies based on basis tech, applicability, and creativity. In the state-sponsored report’s June rankings, EOS also held the top position.  
  • Joseph Lubin, co-founder of Ethereum (ETH), announced on his Twitter that he is, “calling the cryptobottom of 2018,” on Friday. In his tweets, Lubin discussed an, “epic amount of fear, uncertainty, and doubt,” from industry media and social commentators that has driven crypto prices to bottom. Lubin concluded by saying that, “The sky is not falling. From my perspective, the future looks very bright. Peeking into 2019, if you could see the landscape through my eyes, you’d have to wear shades.”

 

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*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Sources:

https://coinmarketcap.com/charts/ 
https://coin360.io/ 
https://www.coindesk.com/us-lawmakers-seek-sanctions-against-irans-cryptocurrency-efforts 
https://www.coindesk.com/fincen-blasts-irans-use-of-crypto-to-bypass-economic-sanctions 
https://projects.propublica.org/represent/bills/115/s3758 
https://www.congress.gov/115/bills/hr7321/BILLS-115hr7321ih.pdf 
https://www.coindesk.com/launch-of-bakkt-bitcoin-futures-market-may-get-postponed-again 
https://www.coindesk.com/ices-bakkt-delays-bitcoin-futures-launch-to-january 
https://cointelegraph.com/news/top-crypto-exchange-binance-adds-ripple-based-trading-pairs-in-new-expansion 
https://support.binance.com/hc/en-us/articles/360021040432-Binance-Adds-TRX-XRP-and-XZC-XRP-Trading-Pairs 
https://support.binance.com/hc/en-us/articles/360020638931-Binance-Will-Add-TUSD-Quote-Pairs-into-the-USD%E2%93%88-Trading-Market-Tab 
https://cointelegraph.com/news/reports-bitmain-allegedly-fires-all-bch-developers-in-wave-of-redundancies 
https://twitter.com/DoveyWan/status/1076717693087080448 
https://twitter.com/Excellion/status/1076942377963700224 
https://www.linkedin.com/company/bitmain/ 
https://cointelegraph.com/news/chinas-new-cryptocurrency-ratings-see-btc-slip-while-embattled-eos-maintains-number-one 
https://cointelegraph.com/news/china-s-latest-government-backed-crypto-rankings-put-eos-1st-btc-17th 
https://www.prnewswire.com/news-releases/china-ccids-8th-issue-of-global-public-blockchain-technology-assessment-index-eos-ethereum-and-gxchain-stay-in-top-three-while-bitcoin-is-at-18th-300770444.html 
https://cointelegraph.com/news/ethereum-co-founder-calls-the-cryptobottom-of-2018 
https://cointelegraph.com/news/report-consensys-to-lay-off-up-to-60-of-its-staff 
https://twitter.com/ethereumJoseph/status/1076171152526110721

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