Bitcoin, which is the largest and most popular cryptocurrency in the world, demonstrates a steady growth on Friday. So does Ripple, which announced a few deals with several banks. Ethereum, the second largest cryptocurrency, continues to decline in price.
As follows from the data shown on CoinMarketCap, Bitcoin has had a daily gain of 5.89%, to $17,400. The quotation provided by Bitfinex exchange grew by 5%, to $17,210. On GDAX, Bitcoin rose 3.82%, to $17,390. According to Coindesk, Bitcoin went up by 4.26%, to 17.24 thousand US dollars.
The Ethereum currency was down 10.85%, to 660.27 dollars. Bitcoin Cash was down 5%, to 1.76 thousand dollars, while Ripple jumped 34%, to 75.3 cents, according to CoinMarketCap.
The total market capitalization of all the cryptocurrencies as shown by CoinMarketCap was 519.26 billion dollars, continuing to increase after overcoming the mark of 500 billion on Thursday. A month earlier, the total market cap was about 220 billion dollars. The first place in terms of capitalization is traditionally occupied by Bitcoin (BTC), with $291.36 billion or a share of almost 60%.
At the same time, on the South Korean exchange Bithumb, Bitcoin went up by 7%, to 20 million won, which is equivalent to about 18.4 thousand dollars. Investors reacted to news from South Korea that the South Korean blockchain association announced the strengthening of measures to increase transparency in trade with cryptocurrencies, Reuters reported. The measures were taken by 14 exchanges of the country, including Bithumb, and will come into force on January 1, 2018.
Ripple jumped in price on the news that SBI Ripple Asia, a consortium of 61 banks, will begin testing Ripple's blockchain for cross-border payments.
Ripple tweeted:
“The Japan Bank Consortium launched a Ripple pilot with two large Korean banks - the first time money moves from Japan to Korea over RippleNet.”
Two large South Korean banks take part in the pilot - Woori Bank and Shinhan Bank, with a total market cap exceeding $30 billion. As noted on the company's webpage, cross-border payments between South Korea and Japan through RippleNet network are being implemented for the first time.