Market Update 2.10.19 – Crypto Tax Bill Clears Hurdle

| Publish date: 02/10/2019

Market News

Crypto Tax Bill Clears Hurdle

There is a newly-proposed law in New Hampshire and it is reportedly meant to allow residents to pay their taxes using digital currencies. Interestingly, it is seeing some significant changes. Called House Bill 470, the bill would give state-level-agencies the ability to accept cryptos as mode of payment if approved.

Interestingly, the bill was able to pass the first minor hurdle. This was after being passed unanimously by a certain subcommittee on the House Executive Departments and Administration Committee. All of these happened with some amendments.

Read the full report here.

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Bakkt To Launch Later This Year

As far as the CEO of the Intercontinental Exchange (ICE) is concerned, the company’s very own digital asset platform called Bakkt is expected to launch later this year. The comment was made by the executive himself named Jeff Sprecher. This was during an earnings call on Thursday, February 7.

Changelly - Exchange cryptocurrency at the best rate

The call was specifically dedicated to the exchange’s financial results for the fourth quarter and the full year of 2018. According to the aforementioned CEO, the company spent more than $1 billion on strategic initiatives. This would include, in particular, the launching of the above-mentioned platform.

Read the full report here.

Crypto Movements After Market Surge

According to the official report, digital currencies were able to face a mix of mild gains – including losses – after a major market surge. The world’s leading cryptocurrency Bitcoin, in particular, held a steady above the $3,600 price point.

BTC reportedly gained more than $200 on Friday, February 8. It eventually reached a multi-week high of roughly $3,691 throughout the entire day. The top digital currency sustained and was even able to trade sideways. This happened before it stabilized to press time.

Read the full report here.

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Total Market Cap: February 10

The digital currency market’s trade volume ended up with a figure of around $18.62 billion. But when attaining the limelight of its market’s capitalization, it grasped a figure $121.67 billion.

Bitcoin Price Analysis: February 10

The world’s most prevalent and foremost crypto called Bitcoin got a trade jump of 0.49% and a price of $3,674.27. As for the altcoin’s trade volume goal, it carved a figure of $5.86 billion. But when talking about the market hit, it succeeded in throwing a figure of $64.41 billion.

XRP Price Analysis: February 10

In the past 24 hours, XRP’s price had a jump in its trade to 0.01% and, therefore, it dealt at about $0.309196. Going for the digital asset’s trade volume, it was playing at $433.88 million and its capitalization at $12.73 billion.

State of the Top 10 Cryptocurrencies: February 10

After the last 24 hours came, some prices of the 10 hailed top digital currencies either fell or jumped. Meanwhile, Bitcoin Coin continued to take the 10th place away from the cryptocurrency called Bitcoin SV.

  • Bitcoin’s market price was efficacious in jumping to 0.49% leading to a market price of $3,674.27. Plus, the market value was able to put up a considerable figure of $64.41 billion.
  • XRP’s market price was able to obtain a price of $0.309196 after jumping to a percentage of 0.01%. It was also victorious when it comes to its market value, which is at $12.73 billion only.
  • Ethereum’s market price jumped to about 0.84%, resulting to its price of a minor boost to $119.45. Meanwhile, its value as far as the market is concerned grabbed $12.52 billion.
  • Litecoin furnished a remarkable market price jump of about 1.95%, facilitating a price range of $44.28 and a market value of around $2.67 billion.
  • EOS’ market price, in particular, was fruitful in jumping, thus it reached 1.56%, resulting to a price number of $2.75. When speaking of its market value, the digital asset reportedly hit around $2.49 billion.
  • Bitcoin Cash was not successful in delivering market price, thus the figure is $127.85, which is all thanks to its percentage fall of 0.44%. As for its market value, the altcoin registered at $2.25 billion.
  • Tether followed the list after experiencing a price jump of 0.15% to $1.00. But as for its value in the market, it only managed to hit a figure of $2.03 billion.
  • TRON is also not an exception, as it plunged to a price mark of $0.025697, with a substantial trade fall of 4.80%. In addition, its market value did not bloom and only reached $1.71 billion.
  • Stellar’s market price plummeted to 0.61%, reaching a price of $0.080044 and a market value of about $1.53 billion.
  • Binance Coin has once again claimed the 10th spot from Bitcoin SV. This was the case after a trade jump of 6.28% to $9.18. As for the atlcoin’s market value, it was competent enough to hit a figure of $1.30.

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