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Investorideas.com - #CryptoCorner: #XRP Overtakes #Ethereum, Australian Exchange Bit Trade Partners to Introduce First Aussie #Stablecoin, California Votes to Ban Crypto Donations While Taiwan Receives First Campaign Contributions in #Bitcoin
#CryptoCorner: #XRP Overtakes #Ethereum, Australian Exchange Bit Trade Partners to Introduce First Aussie #Stablecoin, California Votes to Ban Crypto Donations While Taiwan Receives First Campaign Contributions in #Bitcoin
#CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App
Point Roberts, WA and Delta, BC - September 21, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.
#CryptoCorner: Market Surges, #XRP Overtakes #Ethereum, Australian Exchange Bit Trade Partners to Introduce First Aussie #Stablecoin, California Votes to Ban Crypto Donations While Taiwan Receives First Campaign Contributions in #Bitcoin
Market Surges, XRP Overtakes Ethereum, Australian Exchange Bit Trade Partners to Introduce First Aussie Stablecoin, California Votes to Ban Crypto Donations While Taiwan Receives First Campaign Contributions in Bitcoin
As we enter the weekend the crypto market is showing a considerable surge. While the total market capitalization was just $203 billion USD on yesterday's Crypto Corner, it is clocking in at $226 billion USD at press time, according to CoinMarketCap. Similarly while Bitcoin (BTC) was trading at $6436 USD 24 hours ago, it is currently going for $6687 USD.
The real story, however, is the sustained explosion in the price of XRP, which in the past day has rocketed past Ethereum (ETH) to become the second-biggest crypto by total market cap. At press time, XRP has a valuation of $26.5 billion USD, leaving Ethereum at $23 billion USD in the dust. XRP has seen some 140 percent growth in the week, with 80 percent in the last day alone. CCN quotes Ed Cooper, head of mobile at crypto-friendly fintech company Revolut:
"While this is great news for many crypto enthusiasts and especially for XRP fans, it remains to be seen if the bullish trend will prevail, given the current market conditions that have seen nearly all cryptocurrency losing around a great deal of their value since the beginning of the year."
Australian crypto exchange Bit Trade has announced a partnership with blockchain company Emparta to launch the first stablecoin pegged to the Australian dollar (AUD). Emparta was founded earlier this year and specifically handles employment issues ranging from payment solutions, data security and compliance with hiring laws. The blog post outlines the need for stablecoins:
"Stablecoins solve one of the principal issues that may drive investors seeking steady returns and merchants that currently accept traditional currency away from digital currencies: volatility.
We believe that stablecoins will boost trust, accelerate wide-spread adoption, and could function as the backbone of blockchain-based financial applications, especially here in Australia given the favourable regulatory environment."
The Associated Press reports that the California watchdog for political campaign donations has voted to ban contributions made in crypto. The Fair Political Practices Commission voted 3-1 yesterday to prohibit donations in bitcoin and other cryptocurrencies in the state, following a similar move by North Carolina.
Conversely, Taiwan has received its first political campaign donation in bitcoins, according to BusinessNext. The New Power Party's Hsiao Hsin-chen, who is running for Taipei City Council has received anonymous contributions in bitcoin amounting to $10,000 NT ($326 USD). Commenting on the donation Hsiao said:
"Bitcoin has a transparent nature. Each transaction is recorded publicly using blockchain technology, making it difficult to counterfeit. This could lead to more transparency when politicians accepted political donations."
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