Crypto Roundup – “Only Criminals Will Use Fiat Money” & Cryptos Need Not Be Clearly Defined Under Current Regulations

  • Six coins from the top 10 coins by 24-hour volume posted negative changes, ranging from 0.90% to 2.57%
  • Billionaire Tim Draper: Only criminals will use fiat money, as cryptos will hit mainstream in next few years
  • Russian Minister: Cryptocurrencies need not be clearly defined under current regulations

MVIS CryptoCompare Top 100 IndexThe MVIS CryptoCompare Top 100 Index has raised 2.29% in the last 24 hours to 1,216.69

Six coins from the top 10 coins by 24-hour volume posted negative changes, ranging from 0.90% to 2.57%. Billionaire Tim Draper: Only criminals will use fiat money, as cryptos will hit mainstream in next few years. Russian Minister: Cryptocurrencies need not be clearly defined under current regulations.

Top 10

CryptoCompare Top 10 Coins

Six coins from the top 10 coins by 24-hour volume posted negative changes, ranging from 0.90% to 2.57%. QTUM ($2.11) showed a loss of 2.31%, followed by Ethereum CLassic ($4.58) that posted a negative change of 2.14%. Bitcoin Cash ($142.67) represented a negative change of 1.78%. ZCash ($55.15) showed a loss of 1.04%, while Binance Coiin ($11.16) and Litecoin ($48.68) revealed gains of 14.70% and 2.42% respectively.

BTC

Bitcoin BTC/USD CryptoCompare Chart

At the time of writing, the Bitcoin price is sitting at $3,943 representing a gain of 0.45% in the last 24 hours. More than 245 Mln worth of BTC were exchanged in the BTC/USD market representing a 14.10% share of the global daily volume. The BTC/USDT pair represents a 67.09% share.

ETH

Ethereum ETH/USD CryptoCompare Chart

The Ethereum price posted a negative change of 1.81% over the past 24 hours and is currently sitting at $145, with over $110 Mln worth of Ether exchanged in the past 24 hours on the ETH/USD pair, which has a 7.39% market share of the daily trading volume. The ETH/USDT pair represents a 47.61% share.

EOS

EOS EOS/USD CryptoCompare Chart

The EOS price is sitting at $3.8 representing a positive change of 4.11% in the last 24 hours. More than $35 Mln worth of EOS were exchanged in the EOS/USD market representing a 2.99% share of global daily volume. The EOS/ETH pair represents a 39.16% share.

XRP

Ripple XRP/USD CryptoCompare Chart

The XRP price has dropped 3.96% over the past 24 hours and is currently sitting at $0.32, with more than $25 Mln worth of XRP exchanged in the past 24 hours on the XRP/USD pair, which has a 5.75% market share of the global daily trading volume. The biggest XRP pair is the XRP/USDT pair, that represents a 30.32% share.

Senate Banking Hearing on Facebook’s Libra; 0.25% of Algorand Tokens Sell for $60 Million

The top daily news from the cryptocurrency and blockchain space:

  • The Senate Banking Committee books hearing on Facebook's Libra cryptocurrency.
  • Bitcoin developers to get 50 bitcoin (BTC) in funding.
  • 0.25% of Algorand's ALGO tokens sell for $60 million.

At the time of writing, bitcoin (BTC) and ether (ETH) are trading at $9,294.1 (+1.5%) and $269.5 (+0.6%), respectively. As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 4,314.6 (-0.2%).

 

Bitcoin Ethereum CryptoCompare

Senate Banking Committee Books Hearing on Facebook

The U.S. Senate Banking Committee announced it will hold a hearing on July 16 in order to question witnesses over Facebook’s new cryptocurrency and blockchain project, Libra. As of press time, it has not yet been publicly disclosed which individuals will testify before the Committee.

The hearing – entitled ‘Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations’ – was scheduled just days after the social media giant officially revealed its plans regarding Libra and its new Calibra subsidiary.

Fund to Support Bitcoin Developers with 50 BTC

Primitive Ventures’ Dovey Wan has gathered 50 BTC – roughly $450,000 – on behalf of non-profit organization Hard Core Fund in an effort to sustainably fund Bitcoin developers.

When discussing why she decided to pursue the initiative, Wan told CoinDesk, “right now, you wouldn’t believe it, there are less than 10 full-time bitcoin developers... We want to fund full-time independent bitcoin developers.”

Established in 2018, the Hard Core Fund is managed by Pan Zhibiao, a former Bitmain employee. Wan – who serves as the executive director for the fund – is the only other team member listed on its website.

0.25% of Algorand’s ALGO Tokens Sell for $60 Million

Algorand – a scalable, secure and decentralized digital currency and transactions platform – closed its first Dutch auction with a clearing price of $2.40 per Algo (ALGO) token, the native token of the Algorand blockchain platform.

The auction was administered by the Algorand Foundation, which, in a blog post on Wednesday, said that it now stands as “the first organization to conduct a fully transparent global auction on its own blockchain.”

In total, a paltry 0.25 percent of ALGO’s total supply was sold to successful bidders for $60.4 million. Notably, the Algorand Foundation will – in exactly one year’s time – offer redemptions on tokens at 90 percent of the $2.40 clearing price.

The completion of the inaugural ALGO auction signalled the mainnet launch of the Algorand, also. It was first unveiled by MIT professor and Turing Award winner, Silvio Micali, in early 2017.