MVIS-CryptoCompare Index:
The MVIS CryptoCompare Digital Assets 10 Index has closed at 12,968.65 with a loss of 2.82% for the day.
Market Update:
At the time of writing, the Bitcoin price is sitting at $13,617, representing a loss of 1.3% in the last 24 hours. More than $1.7B worth of BTC were exchanged in the BTC/USD market representing a 36.5% share of daily volume, followed by the BTC/JPY pair that represents a 36% share.
The Ethereum price has dropped by 3.2% over the past 24 hours and is currently sitting at $1,202, with over $840M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 32% market share of the daily trading volume.
Venezuela Will Pre-Mine the Petro and Launch in 6 Weeks:
One day after Venezuela’s oil-backed cryptocurrency was declared illegal, the government of President Nicolas Maduro announced plans to pre-mine the Petro. The new currency is expected to launch in six weeks. The Venezuelan Superintendent of Cryptocurrencies and Related Activities, Carlos Vargas, announced on Wednesday, as reported by El Universal:
"The petro will not be minable but pre-mined, that is, the complete emission will be under the control of the country. In addition, it will be assigned with a procedure similar to that of an auction. In a period of a month and a half, the sale of the petro cryptocurrency will take place and people will be able to create their digital wallets"
MoneyGram to Pilot Ripple's XRP Token:
The international money-remittance firm, MoneyGram, is partnering with Ripple to test the startup's XRP token for international payments. According to a press release, MoneyGram will test Ripple's xRapid service due to its claimed speed and cost efficiency. The release noted that XRP transaction fees are significantly less than those of the Bitcoin network. Ripple chief executive, Brad Garlinghouse, said:
"The inefficiencies of global payments don't just affect banks, they also affect institutions like MoneyGram. By using a digital asset like XRP that settles in three seconds or less, they can now move money as quickly as information."
Overstock Glitch Mixes Bitcoin and Bitcoin Cash:
Retailer Overstock experienced a glitch in their system that allowed customers to pay for goods using Bitcoin Cash rather than Bitcoin, which is valued at a fraction of what Bitcoin is. Overstock’s website gave customers the option to pay with either Bitcoin or Bitcoin Cash interchangeably. Although a seemingly small error, the two cryptocurrencies hold vastly different values. Customers taking advantage of this mistake would also have had the possibility of cancelling the order and being refunded in Bitcoin, making a profit as a result.
State of the Crypto:
Bitcoin is down 1.29% at $13,617.490 with a volume of Ƀ124.6k - $1700.5M on the USD pairs.
Ether is down 1.51% against Bitcoin at Ƀ0.08865 per Ether and down 3.16% against the dollar to $1202.45 with average volume Ƀ75.8k on the ETH/BTC pair.
Bitcoin Cash is down 0.87% to Ƀ0.1827 with volumes of Ƀ39.7k and down 2.01% against the dollar at $2483.83.
Ripple is up 12.28% to Ƀ0.000149 with volumes of Ƀ78.9k and up 10.93% against the dollar at $2.03.
Zcash is up 2.57% for the day to Ƀ0.0487 per ZEC and up 1.67% against the dollar to $665.35 with an average volume of Ƀ5.5k for the 24 hour period.
Litecoin is down 1.52% against the dollar for the day at $231.23 and down 0.06% to Ƀ0.017 on volumes of Ƀ16.1k.
Dash is down 1.19% at Ƀ0.07477 with Ƀ5.6k volume and down 2.52% against the dollar at $1020.46.
Iota is down 3.57% to Ƀ0.0002536 on Ƀ4.0k volume.
Ether Classic is down 1.7% to Ƀ0.002433 with volumes of Ƀ8.3k and down 2.96% against the dollar at $33.1.
Monero is down 3.59% against the dollar at $365.52 and down 2.25% against Bitcoin at Ƀ0.02695 on volumes of Ƀ5.4k.
Neo is up 2.49% for the day to Ƀ0.008686 per NEO and up 2.32% against the dollar to $118.43 with an average volume of Ƀ7.3k for the 24 hour period.
Waves is up 0.21% to Ƀ0.0008143 on Ƀ2.9k volume.
Stratis is up 0.57% to Ƀ0.001241 on Ƀ1.6k volume.
