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What happened: The price of bitcoin remained stable, gaining 9.57% in one week. It was trading at $ 18,334.95 at press time.
The main price of the Ethereum altcoin hit the $ 600 mark for the first time since July 2018. The digital currency gained 32.29% during the week and was trading at $ 605.
The current market cap of the cryptocurrency industry is $ 551,092,579,109.
Because matter: The cryptocurrency industry has seen major institutional players arrive this quarter, more than the previous one, according to a JPMorgan Chase & Co. (NYSE: JPM), as per CoinDesk.
The banking giant launched a blockchain unit called Onyx with a JPM coin ready for commercial use in October, a cryptocurrency publication and research platform, Block reported.
Paypal Holdings Inc The cryptocurrency payment and exchange platform (NASDAQ: PYPL) was released for US citizens on November 12.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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