Cryptocurrencies were trading higher Friday morning, extending their gains from a day earlier.
Market sentiment was boosted by strong moves by the Ripple altcoin and the news of the US regulator seeking more input on a proposed Bitcoin ETF.
Overall cryptocurrency market capitalization jumped to $225.05 billion and the Bitcoin dominance rate was 51.8 percent as of 10.40 am ET on CoinMarketCap.
Here is wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Ripple Jumps Nearly 60%
Ripple, the altcoin carrying the symbol XRP, surged about 60 percent on Thursday on news that the Ripple Labs is set to launch a service as early as next month that use the XRP digital currency. As of 10.33 am ET, XRP was up 61.14 percent at $0.58 on CoinMarketCap where Ripple briefly displaced Ethereum to be second largest crypto after Bitcoin.
US Watchdog Postpones Decision On VanEck Bitcoin ETF, Seeks More Input
The US SEC postponed a decision on the VanEck/SolidX physically-backed Bitcoin exchange-traded fund as it sought more details, rather than an outright rejection. This is the second time the regulator has delayed its decision on the Bitcoin ETF.
PNC Bank Joins RippleNet For Real-time Cross-border Payments
U.S.-based PNC Bank joined Ripple’s enterprise blockchain network RippleNet to enable faster and secure inward real-time cross-border remittances for its commercial clients of PNC Treasury Management. PNC, the ninth largest U.S. bank by assets, will use RippleNet’s blockchain-based settlement solution, xCurrent, which allows settlements in fiat currency.
UN Women To Use Blockchain For Cash Transfers To Refugee Women In Jordan
UN Women and the World Food Programme (WFP) are set to use blockchain technology to transfer cash to Syrian refugee women under the UN Women’s cash-for-work programs running at the Za’atari and Azraq refugee camps in Jordan. UN Women is a United Nations organization dedicated to gender equality and the empowerment of women.
As of 10.40 am ET, Bitcoin was up 4.72 percent at $6,735.00 and Ethereum was higher by 8.65 percent at $230.18 on Coinbase.
by Jyotsna V