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CPI gained 0.9% in October, higher than the estimated 0.6%. The reading marks an acceleration from the 0.4% gain seen in September.
The market has been quite bullish on Bitcoin. Despite more than 13,000 cryptocurrencies listed on CoinMarketCap, Bitcoin remains the dominant digital currency.
Ripple also put heavy investments into non-fungible token projects using the XRP ledger – a public blockchain. Many experts claim that this investment puts Ripple in the position to be an “Ethereum killer.”
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The cryptocurrency crane had continued trending higher this month after experiencing some volatility earlier on when they were trading at $0.0000065 but now hover around $0.0000045, which still makes it more profitable.
Released in 2012, Ripple (XRP) is noted for a “consensus ledger” system that dramatically speeds up transaction confirmation and blockchain creation times — there’s no formal target time, but the average is every few seconds.
In an inflationary environment, assets like Bitcoin appear more attractive to investors. The BTC price rallied to a new all-time high on Wednesday.
Bitcoin hit a high of more than $60,000 in April, and the ups and downs since then highlight the cryptocurrency’s volatility in a time when more and more people are interested in getting in on the action. In the weeks between the most recent July low point and its high points in recent weeks, Bitcoin has risen steadily. Again, Bitcoin is very volatile, so these ups and downs are par for the course.
WASHINGTON (AP) — The Justice Department has recovered most of a multimillion-dollar ransom payment made to hackers after a cyberattack that caused the operator of the nation's largest fuel pipeline to halt its operations last month, officials said Monday.
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Ethereum has increased by 1.8 percent to $4,806. Like Bitcoin, over the last week, Ethereum too has surged more than 10 percent.