The cryptocurrency market is still rebounding after the massive sell off in the previous month, however not as strongly as the last week. The MVIS CryptoCompare top 100 index rose 0.44% in the last 24 hours to 4,634.33.
All the top 10 coins by 24 hour volume have posted gains ranging from 4 - 17%, with the exception of GTO which had a huge gain of 46.5%. The BCH price rose 4.5% in the last 24 hours to $1,251. ETC and NEO both posted positive 24 hour gains of 16.7% and 15.5% respectively. TRX and NEO also had gains of 11.5% and 8.75% respectively.
Last week, the Arizona Senate passed a bill that would allow residents to pay their income taxes using Bitcoin or other cryptocurrencies “recognized” by the state’s revenue authorities. The law will next be considered by the state’s House of Representatives, and its thought to be helping the recent rebound.
At the time of writing, the Bitcoin price is sitting at $8,758 representing a gain of 10.3% in the last 24 hours. More than $940M worth of BTC were exchanged in the BTC/USD market representing a 22.7% share of daily volume. The BTC/JPY pair that represents a 53.6% share.
The United Nations children’s agency, Unicef, has launched a futuristic pilot project to utilise the cryptocurrency Ethereum to raise money for Syrian children. The scheme is part of wider efforts by Unicef and other UN agencies to find uses for blockchain technology associated with the cryptocurrency.
The Ethereum price has risen by 9.6 % over the past 24 hours and is currently sitting at $866, with over $270M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 23.7% market share of the daily trading volume.
U.S. money transfer giant MoneyGram is partnering up with Ripple to test payments using the cryptocurrency. The company, based in Dallas, Texas, aims to use the XRP cryptocurrency to speed up and reduce the cost of transferring money through Ripple's payment network - xRapid. The main goal for this partnership is to lower its transaction fees and to decrease latency in transactions. MoneyGram handles billions of dollars in transactions yearly, so if Ripple becomes part of that equation, it could mean a big step forward for the company.
The Ripple price has risen by 15.9% over the past 24 hours and is currently sitting at $1.06, with over $240M worth of Ripple exchanged in the past 24 hours on the XRP/USD pair which has a 22.8% market share of the daily trading volume. The dominant pair - XRP/KRW - accounts for 50.4% of global volume.
The Litecoin price has risen by 7.7% over the past 24 hours and is currently sitting at $153 with over $85M worth of Litecoin exchanged in the past 24 hours on the LTC/USD pair which has a 28.4% market share of the daily trading volume.