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Ethereum and XRP digital currencies take flight along with bitcoin
- Tuesday | 24th November, 2020
LONDON (Reuters) – Digital currencies Ethereum and XRP soared on Monday, gaining momentum as bitcoin powered on towards its all-time high. Ethereum, like bitcoin, is mostly popular among speculative traders. Third-biggest coin XRP soared 22% to its highest in over two years. “Bitcoin skyrocketed, profits were taken, profits went back into altcoins,” said Joseph Edwards, head of research at crypto brokerage Enigma Securities. With governments and central banks in full stimulus mode, investors have also sought out bitcoin for its perceived resistance to inflation.
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