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While Bitcoin futures have received the most attention in the crypto world, one UK-based startup has been operating an XRP futures market for almost 18 months, according to CoinDesk.com.
Crypto Facilities CEO Timo Schlaefer told CoinDesk.com, "We have pretty good order books. And we're in the process of working with some of the large market makers to draw that further."
According to the report, not many people outside of the firm's own pool of investors even knew the XRP futures were being traded.
But as Ripple has climbed to the third-largest crypto by market cap, it's drawing more interest.
In Bitcoin news today, prices climbed nearly 3% and remained steadily above $8,500. Markets are paying close attention to an executive order out of the White House and news that the G20 economies rejected efforts to regulate cryptocurrencies.
The optimism after the G20 decision puts $9,000 back in focus for Bitcoin after a tumultuous two weeks.
Here is a recap of the top cryptocurrency prices at 9:00 a.m. EDT (returns in last 24 hours).
- Bitcoin: $8,552.31, +2.96%
- Ethereum: $533.43, +0.42%
- Ripple: $0.591, +5.26%
- Bitcoin Cash: $979.52, +3.54%
- Litecoin: $160.35, +3.37%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Cryptocurrency News Today
On Tuesday morning, the market capitalization of the global cryptocurrency sector increased to $328.58 billion. Bitcoin comprised 44.1% of the total cryptocurrency market, with a market cap of $144.7 billion.
The top performer in the space was Qtum, which gained 29.04% on the day.
Other top performers from the top 50 cryptocurrencies included EOS (up 21.25%), NEM (up 16.36%), Cardano (up 13.66%), Ethereum Classic (up 13.53%), Steem (up 13.49%), Bitshares (up 12.74%), IOTA (up 10.84%), and Augur (up 10.53%).
The worst performers from the top 50 cryptocurrencies included DigixDao (down -1.47%) and VeChain (down -0.67%).
Bitcoin Recovers After Twitter Advertising Ban
The price of Bitcoin is rising after a difficult weekend.
Both Google and Facebook Inc. (Nasdaq: FB) had previously announced ad bans for ICOs, cryptocurrency research products, and more.
But some of the most important Bitcoin news this month will be after an important meeting today…
At the G20 meeting in Buenos Aires, Argentina, economic thought leaders will gather in a closed-door meeting to discuss the global cryptocurrency market.
Ahead of the meeting, a report emerged from the Bank of France that proposed the banning of insurance firms, banks, and trusts from taking deposits and loans in cryptocurrencies.
The Bank of France would like global regulators to establish "international-level" rules to oversee the cryptocurrency markets.
The revelation of that report comes a day after Bank of England Gov. Mark Carney said that cryptocurrencies do not pose any significant risk to the stability of the global financial markets.
In a letter published this week, Carney said that no significant oversight is required because cryptocurrencies "are small relative to the financial system."
Trump Takes Aim at Venezuela's Petro
We've been covering the efforts by the Venezuelan government to circumvent sanctions against the socialist dictatorship of Nicolas Maduro.
Earlier this year, Maduro's government introduced the "Petro," a sovereign cryptocurrency allegedly backed by the nation's vast oil and natural gas resources.
Naturally, we've been skeptical about the cryptocurrency given the state of the economy.
And on Monday, U.S. President Donald Trump signed an executive order that bars all American transactions in the new Petro cryptocurrency.
Multiple U.S. officials – including sitting congressional representatives – have called the Petro a "scam."
Venezuela's opposition party has also called the Petro illegal and an effort to undermine democracy across the nation to cement Maduro's rule.
While this is a surgical strike at the heart of the Maduro government, some analysts are wondering if Trump's executive order will create a framework for further crackdowns on cryptocurrencies in the years ahead.
Many are speculating that this rule could provide the U.S. government with the ability to crack down on the cryptocurrency markets under the guise of national security standards.
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Altogether, they'll give you an even stronger crypto "insider's edge."
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About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.