Cryptocurrencies post gains on reports about new coin by Circle

Posted 17 May, 2018

Bitcoin prices have moved up in the second half of the week, driven by the reports about the development of new coin - Circle USD Coin. The new digital asset will be created by the new company run by Goldman Sachs. 

As a result, bitcoin was quoted on the Bitfinex at some $8,289, while Ethereum on this platform changed hands at $701.87.

Some upturn was also seen on the Poloniex, where Ripple gained about 2.5% to $0.69316. Price for Litecoin was at $138.69. 

According to the available data, the new coin –  Circle USD Coin – will be secured by the US dollar to avoid tight regulation faced by the majority of cryptocurrencies in the market. However, there are some players that go off on the company citing that their coin conflicts with the general cryptocurrency concept.

Circle is said to be one of the most well-funded start-up companies. Its capitalization reportedly can reach some $3 billion. The new coin is to be launched in summer 2018.
"It is difficult to use something like bitcoin if the volatility is so high, - said Circle CEO Jeremy Allaire. - Something like this makes it more possible."

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17 May, 2018 13:56

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CME Group considers ETH futures

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