Significant increase in XRP – but slight corrections on the crypto market

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In the past few days, the crypto market has been on the rise. Almost all major cryptocurrencies posted a plus on Wednesday. On Thursday (August 12th), however, there will be slight corrections. The value of Bitcoin has fallen by three percent and is now below 39,000 euros with a capitalization of 725 billion euros. Slight crashes were seen in almost all top currencies, only the Ripple token XRP shows a clear rise.

Ripple recently expanded its presence in the Asia-Pacific region, according to Coin Update . The South Korean remittance service provider GME Remittance has teamed up with Ripple to advance payments between the domestic market and Thailand. Meanwhile, the currency XRP has gained eleven percent in the past 24 hours. The value is now around 85 cents, the capitalization just under 40 billion euros. Over the past week, XRP has seen a whopping 37 percent increase.

The XRP chart for the last 24 hours. © CoinMarketCap

There was a significant correction in Internet Computer (ICP). The price has fallen by ten percent to 55 euros. The capitalization is thus 7.6 billion euros. However, ICP has had a very successful week. In the past seven days, the plus is still a proud 63 percent. There was also a slight correction of three percent for Ethereum. Here the price is now under 2,700 euros with a capitalization of 312 billion euros. The capitalization of the market as a whole remains stable at over 1.6 trillion euros.

Top stories

Hackers stole $ 600 million in crypto

One of the biggest crypto thefts of all time recently happened in the US. Hackers attacked the Poly Network financial platform, stealing deposits from tens of thousands of customers worth $ 600 million in cryptocurrencies. Poly Network has addressed the cyber criminals directly on Twitter and wants to contact them to find a solution. Meanwhile, according to Cointelegraph , the attackers have actually returned $ 258 million and are negotiating the rest of the assets with Poly Network.

Uniswap generates a billion dollars in fees

The leading decentralized exchange, Uniswap , will be the first DeFi protocol to generate more than $ 1 billion in platform fees for liquidity providers as of August 10, according to Cointelegraph . UNI, Uniswap’s digital token, has also had a strong week. Although there was a five percent decrease in the past 24 hours, the increase over the past seven days was 22 percent. The price is now 24 euros with a capitalization of 14 billion euros.

Venezuela is turning off the power to Bitcoin miners

In Carabobo, a state of Venezuela, the authorities have turned off the electricity, according to BTC Echo Bitcoin miners. Actually, the government of President Nicolas Maduro has a positive attitude towards cryptocurrencies. The possession, sale, mining and payment use of Bitcoin and other cryptocurrencies are legal. However, the government mainly promotes its own state crypto currency, the Petro Coin. The authorities may take action against Bitcoin because the top currency is getting in the way of Petro Coin’s success.

Find more crypto news and updates HERE.


This article is for informational purposes only. We do not recommend any actions based on this information. The material is not to be construed as an offer or recommendation to buy or sell any security, or as investment advice. Furthermore, this information does not represent a guarantee that the systems described here are suitable or useful for a person. Past performance is not an indicator of future price developments.

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