Economic news

Bitcoin after reaching new high descends; Ripple’s future

The recent bitcoin surge continues. According to Coindesk, the cryptocurrency, which fell to $8,000 in May, exceeded $9,000 for the first time since May 2018 on Monday.

bitcoin slips 1806Photo: Pixabay

The cost of the most famous cryptocurrency, Bitcoin, reached the level of $9,455.05 according to Monday, while on Tuesday the main cryptocurrencies went down:

  • Bitcoin eased by 0.84 percent, to $9,208.89;

  • Ethereum fell by 1.16 percent to $269.83;

  • Bitcoin Cash lost 2.36 percent, reaching $421.50 at 9.40 GMT;

  • Litecoin reduced its value by 1.40 percent, to $132.03;

  • Ripple went down by 3.04 percent, to $0.4421.

The latter type of cryptocurrency added almost 8 percent yesterday due to the information that MoneyGram intend to sign an agreement to use XPR and the x-Rapid platform developed for cross-border transfers.

Ripple (XRP) is a global monetary system that appeared in 2012 for inter-currency and gross payments. And now this type of cryptocurrency will be used by the second largest company providing money transfer services MoneyGram.

The deal will be continued for 2 years and Ripple will invest $50 million in MoneyGram.

Due to the fact that there was information that Facebook is preparing to announce its cryptocurrency GlobalCoin, it is expected that the number of remittances will decrease, which means that the Ripple-MoneyGram partnership may be very far-sighted.

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree