Crypto NEws

All But One of Top 20 Cryptos See Green, Bitcoin Safely Above $6,700

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Crypto markets are seeing another wave of growth, with Bitcoin trading above $6,700 and 19 out of the top 20 coins firmly in the green.

Sunday, September 23: crypto markets are seeing another wave of green. All but one of the top 20 cryptocurrencies by market cap have made gains over the past 24 hours, according to CoinMarketCap.

Market visualization from Coin360

Market visualization from Coin360

After suffering a slight decline yesterday, Bitcoin (BTC) rebounded today, trading above $6,700 throughout the day. The cryptocurrency is at $6,734 as of press time, up 0.9 percent on the day.

Bitcoin is also up 3.3 percent over the past 7 days, and up 5 percent up on the month. Despite that, Bitcoin’s dominance has dropped slightly, down from 55.6 percent a week ago to 51.2 percent at press time, according to CoinMarketCap.

Bitcoin price chart

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Ethereum (ETH), after having briefly given up its position during a massive Ripple (XRP) rally, is now back to the second spot by market capitalization.

The coin is up 2.6 percent in 24 hours to press time, currently trading at $245. Ethereum is up a significant 10.4 percent on the week, but it has not yet managed to recuperate its monthly losses, still down around 9 percent over the past 30 days.

Ethereum price chart

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

The third largest cryptocurrency by market cap Ripple (XRP) is the only one to see some losses among the top 20 coins, according to CoinMarketCap. Following a period of immense growth earlier this week, Ripple is down 0.23 percent over the past 24 hours, to trade at $0.568.

Ripple price chart

Ripple price chart. Source: Cointelegraph Ripple Price Index

Crypto markets are holding their gains firmly, with total market cap slightly up over the past 24 hours, currently at $227 billion. Following a significant sell-off that started on September 5, the market has only recently climbed back above the $220 billion point.

Total market capitalization chart

Total market capitalization chart. Source: CoinMarketCap

The sixth largest coin by market cap Stellar (XLM) is seeing the most gains among the top 20. Stellar’s price has surged more than 20 percent in 24 hours to press time, currently at $0.289. The altcoin experienced considerable growth this week, up around 40 percent over the past 7 days, according to CoinMarketCap.

Cardano (ADA) is up 10.6 percent today, currently trading at $0.09. The altcoin’s weekly gains constitute more than 31 percent, according to CoinMarketCap.

CNBC’s Ran Neuner has noted in a tweet that cryptocurrencies are gaining significant momentum, pointing out that the daily trade volume of the entire market is approaching $14 billion, which is “the most volume we have seen in a while.

Home Crypto News Wall Street’s EF Hutton Wants to Raise $60 Mln Issuing Crypto ‘Instruments, Coins, Tokens’
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Wall Street’s EF Hutton Wants to Raise $60 Mln Issuing Crypto ‘Instruments, Coins, Tokens’
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Wall Street’s EF Hutton Wants to Raise $60 Mln Issuing Crypto ‘Instruments, Coins, Tokens’

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Stock brokerage EF Hutton continues its cryptocurrency foray by pledging to issue its own products to attract investment.

U.S. stock brokerage firm EF Hutton plans to issue $60 million in various cryptocurrency instruments from January 2019, Bloomberg reported September 13.

The latest in a series of crypto-related announcements this month, the company’s parent organization HUTN said it would begin offering “multiple instruments, coins and tokenswhich would “generate proceeds of at least $60 million.

The move comes the same week as EF Hutton confirmed it was the major sponsor of a new U.S. cryptocurrency exchange known as ACEx, which also plans to start operating next January along with issuing its own token.

“Proceeds will be used to fund marketing, technology and to redeem debt and for general corporate expenses,” the release explains about the asset issuance plans.

“We know ICOs succeed when they present powerful use cases that improve their holders utility with the peer-to-peer functionality of blockchain’s technology,” HUTN CEO Christopher Daniels commented on the most recent announcements:

“Consequently, we are confident that ICO buyers will eagerly seek to hold the coins and tokens we are issuing.

Whitepapers for the forthcoming tokens are promised this autumn, promising a “use casefor each instrument on offer. As yet, no specific information is available about the offering.

HUTN has already hired an advisor with a history of helping companies engage in Initial Coin Offerings (ICOs) to the tune of $290 million, it continues, adding it now “has special insight and experience in the cryptocurrency market.

The company has already attempted to back those claims, Cointelegraph reported September 7, as in embarked on a cryptocurrency research project to assist investors “confusedabout the industry.

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