Home / Bitcoin / Crypto's surge raises $ 25 billion to market value in a large Friday rally

Crypto's surge raises $ 25 billion to market value in a large Friday rally

Bitcoin and major digital currencies were traded higher on Friday, putting most of the coins on the track for the consecutive winning weeks.

After losing trend for much of the week, bitcoin, the world's largest digital currency, has surpassed its recent short-term trading range, scoring a maximum of two weeks at $ 6,769.35. In Friday trading, a single bitcoin

BTCUSD, + 4.97%

reached the last position for $ 6,714.53, up 5.3% from Thursday to 17:00. Eastern Time on the Kraken exchange.

FX Pro analysts have said that a number of material projects have generated optimism among crypto enthusiasts. "A number of factors helped to form this price [move higher]", wrote the team of analysts. "The CEO of Ripple suggests the launch of a new XRPID XRP product already in the next month, access to the largest Asian remittance market, including India, Sri Lanka, Malaysia, Indonesia and Vietnam, and the start -up of Fintech also begins to work in Africa. "

The large-scale rally added $ 25 billion to the value of all cryptocurrencies Friday, which now stands at $ 227 billion, according to CoinMarketCap data.

Read: The fragmentary approach to cryptographic surveillance creates regulatory arbitrage?

XRP bursts higher, surpasses Ether

XRP, the coin that runs on the Ripple protocol, explodes higher on Friday, at one point exchanging 75% more than 75%. Encouraged by the optimism around the xRapid product that hopes to improve cross-payments for financial institutions, XRP has reached a daily maximum of 78 cents.

Read: XRP increases by 75%, exceeds Ether as the second digital currency in the world

The move saw the total value of XRP replace Ether as the second digital currency. In the early afternoon, exchange a single XRP

The XRPUSD coin, + 45.30%

sold the last time for 57 cents, with an increase of 40.4% on the day.

Elsewhere, Ether

ETHUSD, + 9.20%

rose 9.5% to $ 228.42, Bitcoin Cash

BCHUSD, + 12.53%

added 12.7% to $ 481.80 and Litecoin

LTCUSD, + 7.18%

was 7.2% higher at $ 58,87.

In the futures trading, the October contract of Cboe Global Markets Group Inc.

XBTV8, + 4.37%

gained 4.5% to $ 6,690 and the CME Group Inc. contract September

BTCU8, + 4.45%

gained 4.8% to $ 6.710.

SEC begins proceedings for proposal of the ETF

The Securities and Exchange Commission said that today it had initiated proceedings in its decision on the approval of a fund traded on a stock exchange bitcoin (ETF) presented by VanEck and SolidX.

In an "Order establishing procedures to determine whether to approve or disapprove a proposed change of rules", SEC Secretary of Brent Fields said: "The establishment of proceedings does not indicate that the Commission has reached conclusions Regarding none of the problems, Rather, as described below, the Commission seeks out and encourages interested parties to comment on the proposed change of rules. "

On 7 August, the SEC stated that it wanted to make a decision on 39, joint offer on 30 September. [19659002] SEC added that it received over 1,400 comments on application.

Read: The cryptocurrency market & # 39; Wild West & # 39; must be regulated, says the US Treasury Committee

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