Bitcoin, Ethereum and Ripple Form Joint Venture Launched by Coinbase and Circle

This was another 24-hour mixed trading period for the crypto market, with bulls and bears not taking control of the procedure. This led to market stabilization over the period, leaving it worth $ 209.3 billion according to Coin Market Cap. What happened? It's been 24 hours of silence that Bitcoin is trading in a relatively narrow range. Once again, the market has not been able to take advantage of off-risk trading, as investors are moving towards gold and the Japanese and Swiss currencies. However, a news that fell overnight …

This was another 24-hour mixed trading period for the crypto market, with bulls and bears not taking control of the procedure.

This led to market stabilization over the period, leaving it worth $ 209.3 billion according to Coin Market Cap.

What happened?

It's been 24 hours of silence that Bitcoin is trading in a relatively narrow range. Once again, the market has not been able to take advantage of off-risk trading, as investors are moving towards gold and the Japanese and Swiss currencies.

However, news that was published overnight came to the crypto giants Cornerbase and Circle.

According to CNBC, Coinbase and Circle have launched a joint venture called CENTER Consortium, which aims to accelerate the adoption of crypto-currencies backed by government currencies such as the US dollar.

Circle said, "Coinbase and Circle share a common vision of an open global financial system based on encrypted crypto-rail and encrypted rail infrastructure. To realize this vision, industry leaders need to work together to create interoperable protocols and standards. "

To achieve this goal, Coinbase enabled Circle's dollar coin to trade on its popular cryptocurrency exchange. This is the first time that the stablecoin has been allowed to trade on the foreign exchange market. The US dollar coin differs from ordinary cryptocurrencies because it is secured by a US dollar, which is held in an account and subject to regular public accountancy.

Some say that fixed parts are the future, time will tell if that's the case.

Here is the state of play in the market Wednesday compared to 24 hours ago:

the Bitcoin The price (BTC) fell 0.1% to 6,473.18 USD, leaving a market capitalization of 112.2 billion USD.

the Ethereum (ETH) increases 0.1% to 204.37 USD, bringing its market capitalization to 21 billion USD.

the Ripple (XRP) fell 0.5% to 45 cents US, bringing its market capitalization to 18 billion US dollars.

the Bitcoin Cash (BCH) the price is down 1.2% to 441.97 USD. This leaves Bitcoins with a market capitalization of $ 7.7 billion.

the EOS (EOS), the price is 0.4% higher at 5.41 USD. This gives EOS a market capitalization of 4.9 billion US dollars.

Outside the top five, things were a little more positive. Stellar (XLM) is up 0.2%, litecoin (LTC) increased by 0.35%, Attached (USDT) is 0.15% higher and Monero (XMR) increased 3.7%. Cardano (ADA) was the exception with a drop of 1.7%.

James Mickleboro, a contributor to Motley Fool, does not own any of the shares mentioned. Motley Fool Australia does not own any of the shares mentioned. We fools may not all have the same opinion, but we all agree that taking into account a diversity of ideas makes us better investors. Motley Fool has a disclosure policy. This article contains only general investment tips (under AFSL 400691). Authorized by Scott Phillips.