This week Ripple surged after an executive teased the release of Xrapid, Elon Musk is still not giving away ETH, Bitcoin's hashrate doubles despite the bear market, and more!
XRP ($0.66) up over 75% in last 24 hours
XRP surges over 75% over the past 24 hours. At press time, the currency's market cap represented an astounding 10.34% of the total market cap of the top 30 cryptocurrencies.
Market Cap: Top 10 Crypto Assets
The top 10 currencies combined market caps have gained 7.37% over the last seven days. (Currencies included this analysis: ADA, BCH, BTC, EOS, ETH, LTC, USDT, XLM, XMR, XRP)
Market Cap: Top 3-10 Crypto Assets
The currencies ranked between 3 and 10 are seeing huge gains. As a group, their combined market caps have gained 26.68% over the last seven days. (Currencies included this analysis: ADA, BCH, EOS, LTC, USDT, XLM, XMR, XRP)
Since the emergence of cryptocurrencies, financial regulators in various countries are in a dilemma concerning the legal framework surrounding these virtual currencies. Five members of the House of Representatives urged the IRS on Wednesday to furnish updated guidelines on how taxpayers should record profits associated with investing in bitcoin and other cryptocurrency assets. Read more.
Ripple (XRP), a cryptocurrency developed by Ripple Labs, has surged by almost 50% in the last 24 hours as investors pile into the digital token after a Ripple Labs executive teased an exciting new feature. Read more.
So far, the U.S. Securities and Exchange Commission has stood in the way of allowing bitcoin ETFs to begin to trade, with multiple decisions rejecting requests from ETF providers interested in cryptocurrency-related products. Yet there's one commissioner on the SEC, Hester Peirce, who has been a voice of dissent, arguing that the regulatory agency's stance on bitcoin ETFs has actually been counterproductive in the SEC's goal to provide greater investor protection. Read more.
Samsung SDS said that the logistics system would allow export-related companies to share relevant documents, from customs declarations to delivery, in a smooth manner. The solution will also prevent the falsification of data and documents. The company noted that its Nexledger platform could handle a large number of transactions in real time. Its smart contract feature ensures a high degree of security while providing users with convenience. Read more.
Anyone who follows Crypto Twitter will be aware of the thousands of scambots attempting to impersonate Tesla-founder Elon Musk in attempts to secure Ethereum (ETH). Read more.
This is some seriously positive news for Bitcoin in the midst of its longest bear market. Despite a 70% decline in its prices the hashpower of Bitcoin network has more than doubled since May. This surprising piece of info was revealed by Wall Street-based investment firm Fundstrat in a research paper, and it reaffirms the bright future of Bitcoin in the long-term despite all the talk about its doom. Read more.
In what’s been a torrid year, with some cryptocurrencies shedding more than 80%, Josh Fraser, the co-founder of Origin, an open-sourced blockchain platform, said growth in the technology sector should see digital currencies end the year on a bright note. “Prices will slowly recover some of the losses they experienced in [the first of half of] 2018,” wrote Fraser in an email to MarketWatch. Read more.
More than half of the entire Bitcoin circulating supply is controlled by cryptocurrency whales, and 42 percent of them didn’t sell during peak crypto-mania.
Blockchain research unit Diar has put together some interesting data that suggests less than 1 percent of all wallet addresses control $100 billion in Bitcoin. Read more.