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The prices of Ethereum and XRP digital coins rose Monday. (November 23), riding the wave of the recent bitcoin selling price.
Traders attribute Ethereum’s rise to growing demand and a network update expected in early December.
The update will reportedly make the currency safer and faster, meaning “more people and businesses can use Ethereum for economic activity, rather than just financial trading”, Ross Middleton, co-founder of cryptocurrency exchange DeversiFi, told Reuters.
XRP has risen to its highest price in over two years, according to Reuters, which has not identified a catalyst for the rise.
Bitcoin rose above $ 18,000 last week for the first time since December 2017
“Bitcoin has skyrocketed, profits have been taken, profits are back in altcoins,” which are more volatile than bitcoin, Joseph Edwards, head of research at crypto brokerage Enigma Securities, told Reuters.
Meanwhile, Ripple, which uses XRP as its native digital currency, recently posted a job advertisement for a “senior director of central bank commitments,” according to Cointelegraph.
Ripple is looking to educate global central bankers on CBDCs and build working relationships and projects with central banks, Cointelegraph reported. This role will use XRP Ledger, a real-time gross settlement system, to support the central bank’s digital currency (CBDC) initiatives.
In China, the city of Suzhou will hold a raffle for the digital yuan in Double 12 Day, the shopping festival to be held on December 12, CoinDesk reported citing The Paper.
This will be the second digital yuan lottery, after the one held in Shenzhen in October that gave away $ 1.5 million in digital currency. 50,000 winners were selected, but the lottery attracted nearly 2 million candidates.
Additional features of the digital yuan will be tested at the Suzhou event, such as the ability of users to transfer money offline by touching smart devices.
In preparation, many businesses in the city have installed Near Field Communication (NFC) technology and QR code capabilities in their point of sale systems, CoinDesk reported.
Meanwhile, Pickle Finance was compromised after an unknown user took advantage of a bug in the Pickle Swap Jar, removing nearly $ 20 million, NewsBTC reported.
The news sparked a mass movement to sell the PICKLE cryptocurrency and plunged its price down.
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NEW PYMNTS STUDY: ACCELERATE THE CURVE OF REQUEST FOR REAL-TIME PAYMENTS – NOVEMBER 2020
Of: Accelerating the demand curve for real-time payments: what banks need to know about what consumers want and need, PYMNTS examines consumers’ understanding of real-time payments and the methods they use for different types of payments . The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.
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