Bitcoin and cryptocurrency news round-up: 1 January 2018

Harry Tucker 1 January 2018 NEWS

Ethereum-Bitcoin

What you need to know

Raiblocks is the latest to surge, Ripple could be coming to Coinbase this month, and the Bank of England may issue its own cryptocurrency.

1. Raiblocks is up over 70% over 24 hours

Its price is now over US$20 after the currency began surging up on the back of major exchange Binance's vote to become the next coin to be listed. Currently Raiblocks is the 17th biggest cryptocurrency in market cap, worth a little over $2 billion. Raiblocks' growth is despite being listed on only two relatively small exchanges, BitGrail and Mercatox.

2. Coinbase leak shows Ripple could be live by end of the month

Take this one with a grain of salt, but someone on Twitter claims to have access to a beta Coinbase build which he claims will support Ripple (XRP) by the end of the month and has posted screenshots and videos using Coinbase with Ripple.

3. The Bank of England could launch its own cryptocurrency

A new report reveals that the UK bank has a small team set up to investigate the potential and could approve the currency as early as this year, and potentially have it directly linked to the pound sterling.

Potentially, English citizens could store their money in the digital currency with the bank, but also withdraw in sterling.

England's central bank says it has been exploring the use of blockchain technology in its currency since 2015. It says while it could be great for consumers, it also opens up the ability for instant settlements between banks, rather than days.

4. Bitcoin is starting to hit back again

Bitcoin is starting to rally again coming into 2018, with currency currently up a little over 7% in the last 24 hours. Its price is currently sitting at around US$14,000, up from its low of $US12,400 from a few days ago.

Most cryptos are up over the past 24 hours, with Ethereum also enjoying a 4% uptick, Bitcoin Cash 5% and Litecoin is also up 6% in the period.

Cardano is continuing to grow and is up 8% itself, too.

5. NiceHash has a new CEO following its recent hack

Cryptocurrency mining site NiceHash had over US$63 million stolen from it last month, prompting the site to shut down for 24 hours and its CEO Marko Kobal to resign. Kobal will be replaced by Zdravko Poljašević.

The site was hacked last month after stolen engineers' credentials were used to access NiceHash's payments systems and took 4,700 Bitcoin.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Latest crypto news

Latest crypto guides

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.
Ask a question
Go to site