Market Update 12.09.18 – Gemini Lists Bitcoin Cash With NYDFS Approval

| Publish date: 12/09/2018
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Gemini Lists Bitcoin Cash With NYDFS Approval

The Winklevoss-owned Gemini crypto exchange is adding support for Bitcoin Cash (BCH). Specifically, the New York-based startup is only supporting the fork of the cryptocurrency based on the Bitcoin ABC roadmap, and not the alternative version, which “Satoshi’s Vision” (SV). The difference arises after a controversial hard fork last month when the crypto’s network split into two different and competing blockchains with their own tokens.

The exchange has added replay protection to ensure that transactions are only valid on the one network, wrote engineering VP Eric Winer.

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“Any cryptocurrency sent to Gemini over a blockchain that we do not support, such as Bitcoin SV (BSV), will be invalid and irrecoverable,” he said, adding:

“We are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.”

Read the full report here.

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Venezuela Selling Oil For Petro Crypto

Venezuela’s President Maduro has said the nation will sidestep the U.S. dollar and phase in use of its controversial petro token for oil sales starting next year. According to the official report, the country’s leader said that the move is aimed at minimizing the dollar’s dominance in the industry and diversifying the global market.

“In 2019, we have a schedule for [oil] to be sold in petros and in this way continue to free us from a currency that the elite of Washington uses.”

The president reportedly has a six-year financial plan to use the token to avert the crippling impact of U.S.-led sanctions on Venezuela’s economy. The announcement of the plan – which involves setting up trading in the petro with a range of currencies – comes after a meeting earlier this week with Russian President Vladimir Putin in Moscow.

Read the full report here.

Coinbase Wants To Add 30 New Crypo Assets

Coinbase Pro said it was launching support for Civic, District0x, Loom Network, and Decentraland’s tokens. Its order books will remain in transfer-only mode for a couple of hours, with customers able to deposit, but not withdraw, any of the tokens. After adding support for several new tokens over the past months, Coinbase has revealed more than 30 crypto assets it is considering for listing.

However, the San-Francisco-based exchange is not adding the 31 tokens to its platform just yet, but rather, is “continuing to explore the addition” of the assets. The tokens included in the list range from ERC-20 tokens to independent projects.

Read the full report here.

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Total Market Cap: December 9

The volume of trade in the crypto market sat at $13.95 billion. The market’s capitalization, on the other hand, reached $111.38 billion.

Bitcoin Price Analysis: December 9

In the past 24 hours, Bitcoin jumped 1.96% to trade at $3,502.54. The leading cryptocurrency’s trade volume trickled to $5.02 billion, while its market slid to $60.98 billion.

XRP Price Analysis: December 9

XRP’s price jumped 0.93% to trade at $0.307470. As for the altcoin’s trading volume, it reached $403.12 million; whereas its market capitalization hit $12.58 billion.

State of the Top 10 Cryptocurrencies: December 9

In the past 24 hours, most prices were up except for Bitcoin SV’s. Meanwhile, TRON continues to dethrone Cardano at the 10th spot.

  • Bitcoin’s market price jumped 1.96% to $3,502.54, and its value in the market is $60.98 billion.
  • XRP’s market price jumped 0.93% to $0.307470, and its value in the market is $12.58 billion.
  • Ethereum’s market price jumped 1.91% to $92.50, and its value in the market is $9.59 billion.
  • Stellar’s market price jumped 1.06% to $0.119679, and its value in the market is $2.29 billion.
  • Bitcoin Cash’s market price jumped 5.17% to $108.74, and its value in the market is $1.90 billion.
  • Tether market price jumped 0.64% to $1.02, and its value in the market is $1.89 billion.
  • Bitcoin SV’s market price fell 3.74 to $96.27, and its value in the market is 1.68 billion.
  • EOS’ market price jumped 5.92% to $1.83, and its value in the market is $1.66 billion.
  • Litecoin’s market price jumped 3.32% to $25.88, and its value in the market is $1.54 billion.
  • Tron dethroned Cardano at the 10th spot, with its market price jumping 2.17% to $0.013548. As for its value in the market, it is $8.97 million.
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