Coinbase valued at $8 billion – October 31

Current Bitcoin Price: $6349 (as of 10:00 AM PST)

There’s more sideways trading today, perhaps with a slight upwards movement in the majority of cryptocurrencies. Bitcoin has recovered about half a percent today, with Ethereum and XRP following suit.

Interestingly, a handful of top-20 coins are seeing less trivial growth — including Bitcoin Cash (up 1.5%), EOS (up 1.5%), Litecoin (up 1.5%), and Monero (up 2.5%).

Top Bitcoin & Crypto News Stories for 31st October 2018

Coinbase valued at $8 billion

Back in May we reported on Coinbase being valued at $8 billion, up from the previous figure of $1.6 billion. With the constant decline of the cryptocurrency market — both in spot prices and in volume — you’d have thought that valuation might drop.

However, yesterday Coinbase raised a further $300 million in investment, also at a valuation of $8 billion. They hope to use this funding for a matter we’d mentioned before: the introduction of hundreds of new coins onto the platform.

Binance’s first African exchange

Binance is making billions with its flagship cryptocurrency exchange of the same name. Naturally, they’re looking to expand their reach, and mentioned the possibility of a Ugandan fiat-crypto exchange as early as June this year.

Well, that exchange — which happen’s to be Binance’s first interest in the African region — is set to start trading this week, and already accepts deposits in Ugandan Shillings.

Bitcoin celebrates 10th birthday

The world’s most popular cryptocurrency — Bitcoin — is celebrating its tenth birthday today. It was on this day back in 2008 that the anonymous Satoshi Nakamoto published his whitepaper for Bitcoin, which now has a market cap of over $100 billion.