Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $10,417.62 (+1.02%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $269.79 (+8.14%), while XRP has jumped by 12.25% and is now trading at $0.323.
Jerome Powell, the chairman of the US Federal Reserve, has recently said the central bank is actively working on a central bank digital currency (CBDC). However, Powell said the Fed has not yet officially launched the digital dollar:
"We haven’t decided to do this though. I think there are many questions that need to be answered around a digital currency for the United States including cyber issues, privacy issues."
FxPro's team of analysts say:
"Bitcoin keeps driving a positive mood in the crypto market. Since the beginning of the week, the reference cryptocurrency has not only managed to stay above $10,000, but has also grown beyond this mark. At the same time, the dominance index has dropped to 61.8%, which shows altcoins are also posting significant gains. Over the last week, Ethereum has jumped by over 30%, XRP has risen by 18%, while Litecoin has grown by 13%. During the same week, the total market cap rose by 12.5% to $307B.
The latest $500 jump in Bitcoin is related to the statements made by Jerome Powell, chairman of the Fed and 'the most prominent name in the world of finance', who has acknowledged digital currencies are a serious competitor to the dollar. Powell also suggested the Fed might be working on the development of a digital dollar. Even though Powell's statements have had a positive impact on the crypto market, this cannot be compared to the effects of the statements by Chinese president Xi Jinping about blockchain a few months ago."
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $306,812,712,310.
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