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While most digital currency prices are flat, Rise prices today climbed 22.33%. There doesn't seem to be any direct news pushing Rise prices higher, but trading volume has drastically increased over the last several days.
On Sept. 16, the trading volume was 759,313. By Sept. 19, it jumped to 3,007,140.
Bitcoin today is ticking below $4,000 as concerns about China's potential ban on the cryptocurrency still linger. Bitcoin Cash prices are up 1.30% today, as transactions in South Korea and Japan are picking up.
Below is a recap of the top cryptocurrency prices at 8:30 a.m. EDT
- Bitcoin: $3,993.57 , -1.66%
- Ethereum: $283.88, -0.95%
- Bitcoin Cash: $474.75, +1.30%
- Ripple $0.13, -1.00%
- Litecoin: $52.35, -3.64%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Ethereum Can't Break Through $300
The Ethereum price was unable to break back through the $300 level, even with markets keeping a close eye on expectation for the token's next hard fork. According to reports, Byzantium – the first part of Ethereum's Metropolis upgrade – is undergoing testing.
At least nine Ethereum improvement protocols will be introduced in the trial run.
The date for the hard fork is tentatively scheduled for around Oct. 9. Ethereum founder Vitalik Buterin said last week that he expected the testing period to require about four weeks of analysis and work.
Top 5 Cryptocurrencies to Invest in Today
A formal announcement for a date is expected in the coming weeks. In other bullish news, Buterin said Monday he expects that Ethereum's network will match the transaction speed and power of Visa Inc. (NYSE: V) within the next few years.
Litecoin Struggles to Top $55
The price of Litecoin again slipped Wednesday, as investors monitor the impact of China's ban on Bitcoin and sales of cryptocurrencies on local exchanges. Litecoin had been a popular asset within China in recent months.
Technical analysis indicates that Litecoin may find a floor of around $50 per token. While that may provide comfort for investors who bought in around this time last month, the price is still a far cry from the record $92 that it hit just a little more than two weeks ago
Digital Currency Regulatory Update
The U.S. government is about to pour some money into a study to determine the security and stability of the blockchain.
According to CoinDesk, the U.S. Senate has authorized the Department of Defense to conduct "a report on cyber applications of blockchain technology" if the Senate's $700 billion defense bill is signed into law. The report is expected to be turned in within six months of the bill's passage. The U.S. House of Representatives, which passed a similar law, will begin to hammer out a reconciled version of the bill. We will see if the study remains a part of the plans.